A HOSPITAL-cum-hotel complex that was slated to open next year at Farrer Park has been delayed till the end of 2011, but this has resulted in lower costs for the developer and doctors who bought its medical suites.
Planning for Connexion started well before the financial crisis, resulting in high initial estimates for building costs.
However, piling work took longer than expected because it was being built above the Farrer Park MRT station.
The targeted completion date had to be pushed back, said Dr Maurice Choo, cardiologist and chairman of Singapore HealthPartners, which is behind the project.
Forty local doctors own half of the Singapore HealthPartners stakes, while the rest is owned by architect Lim-Tan Suat Hua, families linked to Malaysia’s Berjaya Group and little-known Indonesian firm Wharton Scott.
The $600 million project standing on a 1.36ha site in Race Course Road was initially scheduled to open in October next year.
Dr Choo said the delay resulted in construction costs coming down, and this lowered prices of the medical suites by a third. Continue reading
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