Private capital in housing for elderly
Print Edition
NEY International Group will start construction soon on a new elderly housing project in Minhang that will be the first of its kind in Shanghai — with the developer retaining the ownership of the land and sole management rights.
Happy Home, as the project is called, is expected to be completed in 2016 and will provide high-end services to 1,200 wealthier senior citizens.
“Our expectation is that we will employ 1,200 staff, including cooks, doctors, nursing workers and drivers,” said Shen Huiqin, president of the group. “One-to-one service will be the highlight of our promotion for the new facility.”
According to planning documents, the 150,000-square-meter facility will dedicate 70 percent of its space to common areas, such as canteens, sitting rooms and rehabilitation centers. The facility will offer both physical and mental health care services.
Priority for Minhang residents
Residential areas won’t be the dormitory-style commonly seen in homes for the elderly. Rather, they will be small apartments with a living room and bedroom. The facility will serve organic fruit and vegetables to residents.
“Although the home will be open to seniors from all over the city, those living in Minhang will get top priority,” said Shen. Cost for the units has yet to be determined, he added.
The Minhang District Senior Services Promotion Office said the new ownership and management arrangement of Happy House is one model in a multitude of solutions aimed at providing more accommodation for the elderly. The model encourages private investment in elderly care. A similar project is also scheduled to be built in the Junlian Community of Zhuanqiao Town.
Han Yongqiang, director of the office, said Minhang wants to be a pioneer in China’s reform of elderly care.
“We will set up small day-care centers in neighborhoods, and we are considering selling apartments with senior care facilities and services,” said Han. “We hope that the three different types of facilities will address the divergent needs of older residents.”
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