IPOH, Nov 24 — Total Investment Sdn Bhd (TI Homes) launched its first retirement village GreenAcres in a tranquil part of Ipoh with a ground breaking ceremony today.

John Chong, TI Homes executive director, said, “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.

“As Malaysia’s ageing population is increasing rapidly, the need for an environment for fellowship and social interaction while enjoying the support services and amenities is becoming critical for retirees.”

According to the Department of Statistics Malaysia, the life expectancy for both men and women has increased dramatically since 1960. For men, the life expectancy was 52 years in 1960 compared to 72 years in 2014. Smilarly, female life expectancy was 55 years in 1960 compared to 77 years today. By 2020 the number of Malaysians aged 60 years and older is projected to increase to 3.4 million, 9.9 per cent of total population.

GreenAcres is situated in Ipoh, a place recognised as the third most affordable in the world in April 2014 by US News. The city enjoys a low cost of living, clean air, a relaxing lifestyle and foreigner-friendly environment. All these factors make Ipoh ideal for retirees.

GreenAcres, scheduled for completion by 2016, is inspired by retirement villages in Australia. It is aimed at active retirees – people who are still mobile and fairly healthy.

Chong also described the changing landscape of elderly care in Asia that has moved from seniors living at home and being reliant on their children to them wanting to be more independent.

“Societal demands on working adults mean more and more households rely on dual incomes, leaving very little time for full-on or committed elderly care where one spouse stays at home to attend to the needs of the aging parent,” he pointed out.

“It is not just about building and selling houses, we are offering a lifestyle for a specific target market. The units are not for investment because you cannot buy them. What we are doing is providing our tenants a lifetime lease. In ensuring continuous quality throughout the lease, we retain control of the development and its environment.”

To lease a unit, potential residents would pay a lifetime lease deposit ranging from RM300,000 to RM452,000 (this is in Phase 1). There will be two recurring fees — maintenance charges and contributions to a sinking fund.

This gated and guarded 10-acre retirement site comprises about 170 homes and a clubhouse sertving as the activity and social centre of the community. Another three acres have been set aside for a future aged care residence component, the next phase meant for less independent residents.

TI Homes has been a developer in Ipoh for over 20 years starting with a small project of 10 shops and 31 residential homes. It has expanded to four locations around Ipoh.

The launch of Uplands in 2008 signalled the arrival of TI Homes in the luxury homes segment, featuring 111 semi-detached homes and bungalows in a gated community. In total TI Homes has had a successful track record of delivering over 3,000 residential and commercial properties around Ipoh.