US senior housing operators have been active in Canada and Europe but they have also set their sights on Asia.
The continent’s rapid economic growth and resulting wealth in recent years is changing the way many in Asia – from India and China to Vietnam and Malaysia – are growing old. As working-age children move to cities or abroad in search of better-salaried jobs, this has spurred a rethink about the traditional multi-generational family unit.
US companies as well as India’s Tata Housing Development, Malaysia Pacific Corp and Singapore’s ECON Healthcare Group in Asia among others have spotted an opportunity to construct lifestyle-oriented retirement communities for the wealthy. Facilities from cafés and tennis courts to yoga studios and medical care are on offer.