Retirement village breaks ground in Ipoh
Date：2014/11/29
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Total Investment Sdn Bhd (Tl Homes) recently held the ground breaking ceremony for its integrated retirement village in Ipoh known as GreenAcres.
Spanning 10 acres, the gated and guarded project comprises 170 homes and a clubhouse that heart of the community. And another 3 acres has been allocated for future aged-care facilities.
“GreenAcres will be Malaysia’s premier retirement village, a purpose built community that provides a superior lifestyle for citizens entering the golden years of their life. It is a place where senior citizens can enjoy good quality living while remaining active and independent, where they can age gracefully and with full dignity,” said Tl Homes’ Executive Director John Chong.
The project is also timely due to the growing number of elderly residents. Based on figures from the Department of Statistics, the number of Malaysia age 60 and above is forecasted to surge to 3.4 million, accounting for 9.9 percent of the country’s population.
The life expectancy of Malaysians has also increased significantly since 1960. For men, the average life expectancy rose to 72 in 2014 from just 52 previously, while that of women climbed to 77 from 55 in 1960.
Aside from that, the retirement village is targeting foreigners, given that Ipoh was recognised by US News in April 2014 as the world’s third most affordable place to retire in. Aside from its low cost of living, relaxing lifestyle, clean air and foreigner-friendly environment, the city is a great place to live for those who are tired of the bustle and hustle of major metropolises.
“GreenAcres will be much like a traditional residential community. However, it is much more than just a housing estate. GreenAcres will offer senior citizens, aged 55 years and above, the opportunity to enjoy a better quality of life,” Chong explained
However, these units are only available for leasing on a lifetime basis, with rental fees ranging from RM300,000 to RM452,000 for Phase 1. There will also be two recurring fees, namely contributions to a sinking fund and maintenance charges.
The development is expected to be completed by 2016.