Basic HTML Version
Annual Report 2013
KPJ HEALTHCARE BERHAD
145
Business
Review
Aged Care and Retirement Village
and with familiar people around residents,
be these their carers or fellow residents. This
gives residents the assurance that they can
live out their latter years comfortably among
people whom they know and can trust.
In line with Jeta Gardens’ long-term
development programme, there are plans to
develop up to 400 new retirement living villas
and inter-generational apartments to meet the
needs of a fast growing segment of retiring
and aging Australia. To maximise returns on
Jeta Gardens’ remaining land bank, and to
create the ultimate utopia for the retirement
community, several other plans are in the
of ng. These include the development of a
180-bed geriatric and rehabilitation hospital
with full support from university medical
and clinical science faculties with leading
Australian universities.
Also in the pipeline is a child-minding
centre for children of the staff and from the
community, which will provide a platform for
the older and younger generations to interact.
Down the line, community retail and service
amenities and 30 acres of riverside parklands
will be developed. Ultimately, it is envisaged
that the nal Jeta Gardens development
will house some 2,000 people (residents and
patients) and employ between 800 to 900 staff.
Demand Drivers and Demographics
We envisage that the demand for retirement
villages and aged care facilities in Australia
will continue to grow, given Australia’s
escalating aged population. Residents aged
70 to 85 years are expected to reach 6.3
million and 1.8 million respectively by 2050
(in comparison to 2.1 million and 0.4 million
respectively in 2010). At the same time, the
number of older people within Australia’s
culturally
and
linguistically
diverse
community is growing at a rate three times
faster than the total population. It is expected
that over the next 40 years, the number of
older Australians with an Asian heritage
will increase exponentially. In light of this,
there will be a progression toward a higher
proportion of much older and culturally
diverse Australians.
As such, the demand for retirement living
and aged care services from now till 2050 is
expected to increase. Of equal importance,
however, is the expected exponential
increase in aging morbidity, which will
severely affect acute care resources.
Australia’s aging population thus presents
a signi cant challenge to the Federal, State
and Local Governments as well as service
providers and the community. These factors
and demographics place Jeta Gardens in a
very strong market position and bode well
for the Group’s Aged Care and Retirement
business going forward.