Japanese firm unveils SRP retirees haven plan

By: Doris C. Bongcac February 07,2014 - 08:06 AM

Kazuhito Matsuda, president of I Land Way Philippines Inc. shows to the media a ground floor plan of the proposed retirement facility. (CDN PHOTO/JUNJIE MENDOZA)

A Japanese investor laid out his company’s plans to build a retirement facility at the South Road Properties (SRP) in Cebu City, considered as a first in the country.

Kazuhito Matsuda, president of I Land Way Phils. Inc., said they chose Cebu  as the venue of their P1.4 billion investment because of its peaceful environment, skilled workforce and the availability of direct flights to Tokyo.

“We have been trying to develop the industry in the last 10 years… If this happens in Cebu, this could also happen in other parts of the country,” said SRP manager Roberto Varquez.

During a media briefing held at the SRP management office in the Sugbu building yesterday morning, Matsuda said they hope to build more retirement facilities that would also cater to Filipino retirees.

Speaking through his interpreter, Matsuda said their proposed retirement facility is intended to address the growing demand for health care and nursing facilities for elderly Japanese.



Matsuda said while Cebu City earns from the lease of the SRP land where they want their facility built, the city will also be paid taxes and regulatory fees from their operations.

The construction stage will employ 1,000 workers while the full operation of the facility in 2019 will need another 2,000 health care providers, office and maintenance personnel.

Having Japanese retirees is also expected to boost Cebu’s tourism “because retirees will not just be staying at the facility.”

“They will also travel around (Cebu).  Shop around,” said Matsuda who added that visits by their family and friends will bring in more Japanese tourists to Cebu.

Matsuda said they want their Cebu City project to start during the second quarter of 2015.

This will include the construction of a Japanese zen garden and three buildings equipped with 855 rooms to accommodate 1,125 Japanese retirees.

The facility will be fully operational in 2019 with a P100,000 per month rate for each retiree which will already include the cost of their accommodation and meals.



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TAGS: Cebu, foreigner, investors, Japanese, Philippines, SRP, Vice Mayor Edgardo Labella

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