Promisia Healthcare Limited has updated the market on their Ranfurly Development, a project involving the expansion of their Ranfurly Manor Facility in Feilding.
10 care suites are completed and all 32 villas are under construction or completed, with 7 of the villas having sold and been occupied.
The independent directors have decided to increase payments to the construction company, Colspec, in exchange for a shorter timeframe to complete the project, with the current expectation being it will be completed by mid-2023.
The Board believes this is in the best interests of the company, as it will still benefit from the long term revenue generated from subsequent ORAs.
See more
