{"id":11635,"date":"2021-03-17T11:47:27","date_gmt":"2021-03-17T04:47:27","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=11635"},"modified":"2021-06-04T16:09:46","modified_gmt":"2021-06-04T09:09:46","slug":"thai-developer-offers-an-end-of-life-package-for-seniors","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/thai-developer-offers-an-end-of-life-package-for-seniors\/","title":{"rendered":"Thai developer offers an ‘end of life’ package for seniors"},"content":{"rendered":"

Thailand\u2019s senior population is expected to hit 20 percent of the total population in<\/span>\u00a0five\u00a0<\/span>years’ time<\/span><\/p>\n

\"\"
The senior package includes the unit fee, service fee, as well as health and wellness programme. AfricaStudio\/Shutterstock<\/figcaption><\/figure>\n

According to Bangkok Post<\/a>, property developer Magnolia Quality Development Corporation (MQDC) has collaborated with Muang Thai Life (MTL) Assurance to offer senior citizens an\u00a0<\/span>end of life<\/span>\u00a0pac<\/span>kage that includes health insurance, lifetime care, and a non-transferable lease on a house or condo for THB35 million (USD1.1 million).\u00a0<\/span>\u00a0<\/span><\/p>\n

Aspen Tree, a senior residential community, is a 30-year leasehold right for people aged 50 and above. Residents here <\/span>are allowed to<\/span>\u00a0<\/span>stay until<\/span>\u00a0death with health\u00a0<\/span>insurance<\/span>\u00a0protection up to 99 years of age.\u00a0<\/span>\u00a0<\/span><\/p>\n

Visit\u00a0<\/span>Malaisirirat<\/span>, MQDC chief executive, mentioned that the project<\/span>\u00a0is the country\u2019s first in Southeast Asia\u2019s finest healthy living community with holistic lifetime care, part of The\u00a0<\/span>Forestias<\/span>, a<\/span>\u00a0398-acre forested development project in\u00a0Bangna.\u00a0<\/span>\u00a0<\/span><\/p>\n

Visit said, \u201cthe country\u2019s senior population, age over 60, is expected to reach 20 percent of the total\u00a0<\/span>population<\/span>\u00a0in the next five years, from 13 percent estimated today.\u201d<\/span>\u00a0<\/span><\/p>\n

MQDC is an award-winning developer, and its Chairperson\u00a0<\/span>of Executive Committee at MQDC and DTGO, as well as Chairperson of\u00a0<\/span>Buddharaksa<\/span>\u00a0Foundation, Khun\u00a0<\/span>Thippaporn<\/span>\u00a0<\/span>Ahriyavraromp<\/span>\u00a0(<\/span>Chearavanont<\/span>) won last year\u2019s <\/span>PropertyGuru<\/span> Icon Award at the PropertyGuru Asia Property Awards Grand Final. <\/span>\u00a0<\/span><\/p>\n

\u201cK.\u00a0<\/span>Thippaporn<\/span>\u00a0sets an example for the real estate industry to follow. Her\u00a0<\/span>long term<\/span>\u00a0vision for sustainable, resilient, community-focused development is supported by exemplary research, and with MQDC\u2019s latest project, The\u00a0<\/span>Forestias<\/span>, she is creating a model for the future of healthy, compassionate, multi-generational living,\u201d said\u00a0Jules Kay, the managing director of\u00a0<\/span>PropertyGuru<\/span>\u00a0Asia Property Awards & Events Jules Kay.<\/span>\u00a0<\/span><\/p>\n

The senior package includes the unit fee, service fee, as well as health and wellness <\/span>programme,<\/span> featuring daily activities and leisure opportunities in collaboration with Baycrest Global Solutions, a health insurance provided by MTL; and elite health, a premium <\/span>package insurance protection provided by MTL.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sara\u00a0<\/span>Lamsam<\/span>, president and chief executive of MTL, said during<\/span> the construction period, the coverage is up to THB20 million per policy year, and is expected to\u00a0<\/span>rise<\/span> to THB40 million per policy year following the construction and leasehold right transfer completions.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Utopia Corporation plans to launch Phuket\u2019s new luxurious icon<\/strong><\/a><\/p>\n

The insurance covers general disease, critical illness, and epidemics, including accidents. Moreover, it covers outpatient care for cancer treatment with targeted therapy, MRI or CT scans, as well as hospitalisation in ICU for up to 365 days.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sara said the company is looking to focus on various senior citizen segments, as well as seeking to grow insuranc<\/span>e premium from health businesses by double digits this year.\u00a0<\/span>\u00a0<\/span><\/p>\n

The Aspen Tree project commenced construction in January 2020 and is scheduled for completion in Q3 2021. The development has 290 units, including 250 units of\u00a0<\/span>active-living<\/span>\u00a0starting from THB35 million, and\u00a0<\/span>40 villa units with residential areas of up to 200 square <\/span>metres<\/span>\u00a0for THB70 million.\u00a0<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Thailand\u2019s senior population is expected to\u00a0hit 20 percent of the total\u00a0population\u00a0in\u00a0five\u00a0years’ time<\/p>\n","protected":false},"author":12,"featured_media":21081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1157,1156,292,133],"class_list":["post-11635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-insurance","tag-residential-community","tag-senior-living","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"\nThai developer offers an 'end of life' package for seniors | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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