Aveo-China Board visit Shanghai Campus

Shanghai campus success reinforces Aveo-China commitment Aveo Group is well underway in providing a new model for retirement care in China with the progress of the Shanghai Tide Health Land Campus.

Aveo CEO Geoff Grady and CFO David Hunt were among the seven Aveo-China Group Board members to tour the Shanghai Tide Health Land Campus, and inspect the exciting progress of the unprecedented campus earlier this month.

Mr Grady said the campus’s quality of accommodation, and care offering available to residents far surpassed the alternatives currently available to the older Chinese community looking for support and care.

“The consumer uptake is proof of its growing success with 70% of the independent living units sold, and great demand for the serviced apartments, which are now on sale.” he said.

Although a short visit, the trip came at an exciting time, as the campus is now filling with residents The continuum care retirement community (CCRC) located at Zhujiajiao, will soon become home to 2,500 seniors.

“We offer residents in our 868 independent living units active lifestyle programs; we have a retail precinct, two gyms, three pools, and 38,000 sqm of clubhouse facilities. As well as this, the site holds six neighbourhood centres and a hotel for visiting friends and family to stay in,” General Manager Aveo-China Group, Julie Jackson said.

“In our 270 serviced apartments, residents receive increased care with day to day living; meals, housekeeping, exercise, entertainment and medical support is all taken care of. We also have 300 nursing beds available with a comprehensive aged care support program. All of this is fully run by our 150 operational staff,” said Ms Jackson.

“This was our fifth visit to the campus since inception and a valuable opportunity to see how the village was progressing, to hear from residents and to look at ways of capitalising on the learnings to date,” Mr Grady said.

“We launched a product that was designed for market entry, now we can refine the product offering and how it is bundled,” he said. “This might include introducing a deferred management fee (DMF) that reduces the upfront cost to future residents; this is in-line with our Australian financial and care modelling.”

“By introducing a DMF in the future we can open up the opportunity to a greater number of the ageing Chinese population, who would otherwise rely on family or nursing care.” Informed on the progress of the Aveo Group in China, the Board endorsed the exciting proposal to launch a Resident Cultural Immersion Program, which would encourage Australian residents to visit China, and get to know residents at the Aveo-China Campus.

In busy Shanghai, the brand new Tide Health Land Campus provides a haven for older Chinese residents and families. The campus includes such amenities as luxurious living apartments, a shopping village, river gardens, tennis courts, indoor swimming pool, gymnasium and community recreational areas.

This development surpasses other national attempts at retirement care in China.

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