Banking on Senior Living

The percentage of Malaysians above the age of 60 is steadily rising, according to the Malaysian Healthy Ageing Society. It was 6.2% in 2000, and is expected to hit 13.6% by 2030.

This trend is spurring ever greater interest in the the niche market of property development catered to senior citizens.

Pelaburan Hartanah Berhad together with UEM Group and Medical Care Services Inc have a joint venture to establish senior living developments here in Malaysia. Medical Care Services Inc was established back in 1999 in Japan to provide nursing care for the elderly.

What is a senior living development and how does that differ from an old folks’ home?

We discuss this as well as the rising demand for senior living here in Malaysia.