Lendlease enters aged-care market in Shanghai
Print Edition
Sydney-based Lendlease, the largest owner, operator and developer of retirement communities in Australia, has unveiled plans for its first project in China.
Located in Zhujiajiao in the Qingpu District, Ardor Gardens will comprise 850 apartments capable of accommodating some 1,300 residents. It will open in 2021, senior executives of Lendlease said in Shanghai recently.
“The project marks Lendlease’s strategic expansion into the growing senior living market in China,” said Tony Lombardo, chief executive officer of Lendlease, Asia. “We are excited to combine our global experience in senior living with our over 25-year presence in China to offer new senior living options in Shanghai and the rest of the Yangtze River Delta region.”
Ardor Gardens will provide a complete range of facilities, including recreational areas, health and well-being facilities, a spa, swimming pool, restaurant and a community clubhouse.
Scheduled to open its visitor and sales center later this year, the company said the project will be operated on a membership model, with a 45-year membership fee starting at 2 million yuan (US$290,343).
Lendlease is an international property and infrastructure group. In Australia, the company operates more than 70 retirement communities housing 17,000 residents.
The company said it plans to expand to other areas of China if the Shanghai project is successful.
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