Firm behind $52k clinic rental says cost worth it

Co-owner says bid for rent for HDB unit is based on attractive attributes of the area

- Isabelle Liew

The co-owner of a healthcare services firm that placed a record high bid of $52,188 in monthly rent for a unit in a Tampines HDB estate, has come out to explain that his bid was based on the attractive attributes of the area.

Mr Andrew Chim, 37, co-owns I-Health Medical Holdings — the firm that won the tender to operate the 50 sq m ground-floor unit at Block 954C Tampines Street 96.

Bidding on the unit had closed in January, and the results were announced by the Housing Board in March, said Mr Chim.

But the clinic's eye-popping rent recently caught public attention and ignited discussion over the last few days about rising rentals and healthcare costs.

Mr Chim told The Straits Times on June 3 that the unit in question had the most attractive attributes among recent HDB units for general practitioner (GP) clinics.

He pointed out that the unit is in the middle of Tampines West where there are five Build-To-Order projects with 5,000 households, as well as other upcoming developments like a new mixed-use project and a shopping mall.

"Our assessment is based on our understanding of the number of units in the area and the surrounding competition," he said, adding that there are around five other clinics in the vicinity.