https://sg.news.yahoo.com/co-owner-firm-behind-record-144200363.html
Tue, 3 June 2025 at 10:42 pm SGT·4-min read
The Tampines clinic’s eye-popping rent recently caught public attention and ignited discussion about rising rentals and healthcare costs.
SINGAPORE – 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.
I-Health has three other clinics in heartland areas around the island, where it pays between $7,000 and $10,000 in rent.
It plans to open its Tampines clinic on June 26.
There were 13 bids in total for the Tampines clinic, which comes with a three-year lease. The stated winner, Mr Shaun Lum, is the other co-owner of I-Health. HDB did not disclose the bid amounts from the other tenderers.
The $52,188 rent came to public attention on May 31 after healthcare practitioner Hisham Badaruddin took to professional networking platform LinkedIn to say this was an “obscene” amount to pay for rent for a clinic in an HDB estate. Dr Hisham, who runs his own practice, Bartley Clinic, told ST on June 3 that he was concerned about the implications of such high rents, pointing out that it could translate to higher healthcare costs.
“It may have a ripple effect where other landlords raise their rents too. If it affects me, it will in turn affect my patients,” said the 54-year-old, who pays about $6,000 a month in rent for a shophouse unit in Paya Lebar.
Mr Nicholas Mak, chief research officer at property search portal Mogul.sg, said demand for the unit in Tampines GreenGem was high, considering that clinics in HDB estates usually attract fewer than 10 bids.
He added that private landlords could use the high rentals in HDB commercial spaces as a benchmark to raise their asking rents.
“This will either force some retail operators out of business or force them to raise prices. The higher rentals will eventually be passed on to consumers as higher prices of the goods and services,” Mr Mak said.
Asked if I-Health will increase prices at its Tampines branch, Mr Chim said that despite the high rental, consultation fees will range from $30 to $35, comparable with those of other heartland clinics.
“Our pricing will be commensurate with other clinic chains’ – it has to be because Singaporeans are value-conscious,” he said.
Mr Chim said he is confident that after a year, the Tampines branch will see between 70 and 90 patients a day. At that point, it will get a second doctor. He expects the clinic to make a profit in 1½ to two years.
It will be open from 8.30am to 3pm and 5.30pm to 10pm, including on weekends and public holidays, he said, adding that nearby clinics are open for fewer hours.
This is the first time I-Health has successfully tendered for an HDB unit. It tried submitting bids for four other tenders in areas such as Bidadari and Tampines North, but the company “did not have enough cash flow” then, said Mr Chim.
“Now that we have sufficient cash flow, we have confidence to go after the best locations,” he said.
About concerns that I-Health’s bid would cause rents for other clinics to rise, Mr Chim pointed out that landlords might not be able to find tenants willing to pay higher prices.
Other recent successful rental bids for GP clinics in HDB estates include a $40,088 bid for a unit at Block 235B Tengah Garden Walk. Bidding for that unit also closed in January and was awarded to Dr Daphne Lee.
The same month, Caring Medical Clinic placed a successful bid of $25,388 to rent a unit at Block 666 Tampines Street 64.
Co-owner of firm behind record $52k bid to rent Tampines HDB clinic says location justifies cost
Isabelle LiewTue, 3 June 2025 at 10:42 pm SGT·4-min read
The Tampines clinic’s eye-popping rent recently caught public attention and ignited discussion about rising rentals and healthcare costs.
SINGAPORE – 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.
I-Health has three other clinics in heartland areas around the island, where it pays between $7,000 and $10,000 in rent.
It plans to open its Tampines clinic on June 26.
There were 13 bids in total for the Tampines clinic, which comes with a three-year lease. The stated winner, Mr Shaun Lum, is the other co-owner of I-Health. HDB did not disclose the bid amounts from the other tenderers.
The $52,188 rent came to public attention on May 31 after healthcare practitioner Hisham Badaruddin took to professional networking platform LinkedIn to say this was an “obscene” amount to pay for rent for a clinic in an HDB estate. Dr Hisham, who runs his own practice, Bartley Clinic, told ST on June 3 that he was concerned about the implications of such high rents, pointing out that it could translate to higher healthcare costs.
“It may have a ripple effect where other landlords raise their rents too. If it affects me, it will in turn affect my patients,” said the 54-year-old, who pays about $6,000 a month in rent for a shophouse unit in Paya Lebar.
Mr Nicholas Mak, chief research officer at property search portal Mogul.sg, said demand for the unit in Tampines GreenGem was high, considering that clinics in HDB estates usually attract fewer than 10 bids.
He added that private landlords could use the high rentals in HDB commercial spaces as a benchmark to raise their asking rents.
“This will either force some retail operators out of business or force them to raise prices. The higher rentals will eventually be passed on to consumers as higher prices of the goods and services,” Mr Mak said.
Asked if I-Health will increase prices at its Tampines branch, Mr Chim said that despite the high rental, consultation fees will range from $30 to $35, comparable with those of other heartland clinics.
“Our pricing will be commensurate with other clinic chains’ – it has to be because Singaporeans are value-conscious,” he said.
Mr Chim said he is confident that after a year, the Tampines branch will see between 70 and 90 patients a day. At that point, it will get a second doctor. He expects the clinic to make a profit in 1½ to two years.
It will be open from 8.30am to 3pm and 5.30pm to 10pm, including on weekends and public holidays, he said, adding that nearby clinics are open for fewer hours.
This is the first time I-Health has successfully tendered for an HDB unit. It tried submitting bids for four other tenders in areas such as Bidadari and Tampines North, but the company “did not have enough cash flow” then, said Mr Chim.
“Now that we have sufficient cash flow, we have confidence to go after the best locations,” he said.
About concerns that I-Health’s bid would cause rents for other clinics to rise, Mr Chim pointed out that landlords might not be able to find tenants willing to pay higher prices.
Other recent successful rental bids for GP clinics in HDB estates include a $40,088 bid for a unit at Block 235B Tengah Garden Walk. Bidding for that unit also closed in January and was awarded to Dr Daphne Lee.
The same month, Caring Medical Clinic placed a successful bid of $25,388 to rent a unit at Block 666 Tampines Street 64.
- Isabelle Liew is a journalist at The Straits Times. She covers housing issues in Singapore, with a focus on public housing.
