A Macau conglomerate is targeting Hong Kong’s affluent retirees with a new luxury senior housing project in the Greater Bay Area, capitalising on a shortage of high-end retirement options for the city’s affluent retirees.
Advertisement
“There is a lack of high-quality lifestyle retirement [options] in Hong Kong,” said Amber Li, founder of Serensia Woods, a 13,500-square-metre (145,313 sq ft) retirement community in Zhuhai’s Hengqin district.
The community, on an island largely in the Guangdong city neighbouring Macau, includes a 133-room hotel, four residential towers with a total of 300 units, two wellness centre towers and a spa centre. The 2 billion yuan (US$278.4 million) project is part of HN Group, a century-old Macau conglomerate that began importing Portuguese products in 1920 and has since diversified into retail, engineering and other sectors.
“For Hongkongers who have the financial means to retire, you do not have a choice,” Li said, adding that most people will live at home, which lacks a guaranteed level of professional care.
The development aims to tap into a growing demographic: by 2046, 36 per cent of Hong Kong’s population will be over 65, up from 23 per cent last year, according to an Our Hong Kong Foundation research report published in April. Currently, 80 per cent of seniors prefer living in their own homes to moving into a care facility, the report found.
Advertisement