Wednesday, April 19, 2006
Government shortlists potential sites to build retirement village
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| SINGAPORE : The government has shortlisted a few potential sites for the construction of a retirement village, and the National Development Ministry is currently studying the details. The sites are on a 30-year land lease. And one of them will be picked to test market demand for such villages. In an exclusive interview with MediaCorp's Channel 8, Health Minister Khaw Boon Wan said in the past, the idea of building retirement villages was put on the back burner as Singapore's problem of an ageing population was not as serious as that in Europe and America. The Singapore market was also too small for retirement villages to be commercially viable. But the prospects have since changed. With a rapidly ageing Singapore population, Mr Khaw said in five years' time, retirement villages will become economically viable. One obstacle is the high costs of land in Singapore. "My personal view is, our land is expensive. But we have nearby neighbours in Johore, Batam and Bintan. The elderly want to reach their doctors within half to one hour. So retirement villages in neighbouring countries is possible, barring the cross-border hassle. It is best to find cheap land on short leases," said Health Minister Khaw Boon Wan. |
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// posted by Shajahan @ 10:31 AM 