St. Luke’s Medical Center, Inc. (SLMC) is planning to open its third hospital in Metro Manila and has signed a Contract of Lease with D.M. Wenceslao & Associates, Inc. (DMW) for a 13,896 square meter parcel of land in Aseana City.
In a disclosure to the Philippine Stock Exchange, DMW said the lease period is 50 years commencing in June 2022.
St. Luke’s Medical Center is recognized as the leading and most respected healthcare institution in the Philippines. Its two facilities in Quezon City and Global City, Taguig have a combined total of 1,146 rooms, with over 60,000 average in-patient admissions and 2.7 million outpatient consultations annually.
In 2003, it was the first hospital in the country and the second in Asia to be accredited by the Joint Commission International (JCI)—the world’s leader in healthcare accreditation and quality improvement. In 2016, it was also the first in the country to be accredited by JCI as an Academic Medical Center Hospital.
Meanwhile, the land lease will bring D.M. Wenceslao’s total leased out land to 164,895sqms and will augment its recurring income.
“An integral part of holistic estate development is anticipating the needs of our locators. Immediate access to world-class healthcare institutions is a fundamental need that we have identified at the onset,” said DMW Chief Executive Officer Delfin Angelo Wenceslao.
He added that, “To have St. Luke’s Medical Center, the country’s leading healthcare institution, fill this need is an important milestone for Aseana City.” “St. Luke’s Medical Center Aseana City solidifies Aseana’s status as a top mixed-used CBD destination of major brands and best-in-class institutions in the country,” Wenceslao noted.
St. Luke’s Medical Center President and Chief Executive Officer Arturo De La Peña said “The rapidly growing Aseana City provides a compelling platform for St. Luke’s Medical Center to expand and scale operations to capture the robust healthcare growth in the country and in Southeast Asia.”
“With proximate critical infrastructure connecting Aseana City to other Metro Manila CBDs, growing population centers south of Metro Manila, and to the Ninoy Aquino International Airport, St. Luke’s Medical Center Aseana City will be at the forefront of delivering high-quality patient-centered care and improving health outcomes through advanced technology,” he added.