Retirement housing in the spotlight
Leading real estate experts from around the region will examine the pressures and opportunities of the Asia's senior housing market at the Retirement Living and Senior Care Southeast Asia 2014 event in Kuala Lumpur, Malaysia, which is set to take place from June 17 until June 19.
Southeast Asia's attractiveness as a retirement hub is growing, with Malaysia securing third place out of the Global Annual Index's Top 15 Best Countries to Retire in 2014. Joining Malaysia on the list is Thailand, which came in 11th. While Indonesia and the Philippines are not listed in the top 15 this year, they are likely to join Malaysia and Thailand with the onset of several up-and-coming senior housing projects.
Retirement facility projects are on the rise in Southeast Asia, as the region anticipates a rapid increase in both local and foreign seniors over the next decade. Southeast Asia expects to see its over 60 population rise to 183 million by 2050, a 345 percent leap from the 53 million aged 60 and above in 2012. The region is under pressure to build and provide professional senior housing and services for both its residents and foreign retirees seeking a better climate for their sunset years.
Chong Heng Kiong, co-founder of Total Investment Group and retirement village GreenAcres, said in a media interview last year: "We've seen retirement villages overseas many years ago and thought that it was a good solution to address the lifestyle needs of the retirees here in Malaysia. There is certainly a gap in the marketplace, so we decided it was the right time to go ahead with developing a proper retirement village for Malaysians so that the needs of the retirees are catered for."
Dr Chua Hong Teck, Director of NKEA Healthcare, PEMANDU, added: "The impending demographic shift will exacerbate current challenges such as capacity and access to healthcare, funding of long-term care and the provision of adequate facilities for the retired,"
Retirement Living & Senior Care Southeast Asia 2014 will bring the region's most experienced senior care professionals together, who will share real-life experiences and best practices when dealing with issues specific to Southeast Asia's senior housing and care industry.
The high-level industry gathering will showcase various projects across the region, including Baan Kamlangchay, the German-based Alzheimer's care village in Thailand, Life Care Residences from the Philippines, Optimum-Eden Healthcare from Malaysia, Summerset Villages from New Zealand and many more.
The event will feature speeches by key senior housing players including Total Investment, MKH Berhad, Life Care Residences, Ashiana Housing, HSB Development Sdn Bhd, as well as keynotes by government bodies and regulators such as PEMANDU, the Director General of Social Welfare and Malaysia Property Incorporated.
The event will include more than 18 hours of networking and knowledge sharing opportunities, more than 150 Southeast Asian aged care representatives on site, and more than twenty presentations.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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