With 20 percent of Thailand’s population expected to be aged 60 or older by the end of 2021, property developers are looking at ways they can better serve this segment. Nye Estate is the latest Thai developer to focus on senior living after announcing plans to renovate an existing condominium building in Nonthaburi.
The plans will see the homebuilder revamp 70 units at Riverine Place, a three-tower condominium completed in the 1990s. Nye Estate had previously teamed up with Livwell to provide senior living solutions to residents at the project. According to the developer, more growth in this segment is likely.
“This segment will be a huge demand. Many elderly people are healthy, active and able to take care of themselves,” CEO Ornruedi Na-Ranong told the Bangkok Post. “They are seeking a residential unit where they can spend an active life for as long as possible.”
MQDC supports senior living through an intergenerational experience
One of the first developers in Thailand to realize the senior living trend was MQDC. The firm created a unique brand, Mulberry Grove, designed for intergenerational families where older relatives could live along everyone in comfort.
“An interesting example of how the crisis is accelerating trends already under way is in ‘intergenerational’ living,” MQDC Chief Executive Khun Visit Malaisirirat explained. “MQDC is pioneering intergenerational living with its brand Mulberry Grove, dedicated to reviving multi-generational living in extended families. Our research found this need and desire in Thailand. The outbreak is set to further drive this trend as families further recognize the value of living together with older relatives.”
Related: Developer MQDC prepares for the future of Thai property
SC Asset provides comfort to elderly residents
SC Asset’s Grand Bangkok Boulevard luxury housing brand continues to focus on elderly residents. Homes in these developments are equipped with a number of unique innovations that are designed to improve the multi-generational living experience.
For example, on the bottom floor of houses in Grand Bangkok Boulevard Sukhumvit, a housing estate in suburban Bangkok, is a special bedroom that caters to the elderly. Innovations include soft flooring that is easy on joints and bathroom safety features.
Read More: SC Asset adapts and innovates to become Thailand’s leading developer in 2020
