Japanese firm to build highend retirement village in Tagaytay

A Japanese company, Sanyo Emeritus Corp. plans to build a high-end, retirement village in Tagaytay City.

Trade and Industry Secretary Cesar Purisima who left yesterday for an investment mission in Japan, will be meeting with Sanyo company officials to hear the details of the proposal.

Purisima will also be visiting the Mitsubishi Corp.’s office and view the clay model of the new sports utility vehicle (SUV) model which the auto firm will produce exclusively in the Philippines. Mitsubishi is investing P10 billion for the project.

Sanyo officials were recently in Manila to look at potential sites for the proposed retirement haven which also targets elderly Japanese looking for a suitable retirement home.

"The Japanese are very much interested in setting up the facilities here because we have an abundance of caregivers and medical professionals in the country. Instead of these professionals going to Japan, it will be more convenient for Japanese elderly to stay here because we have a temperate climate," Purisima said.

Sanyo was formed in 1998 to provide a residential-based health care alternative for Japan’s growing elderly population. The Japanese government expects that by 2020, 27 percent of the Japanese population will be over 65 years of age.

The company operates residential-style assisted-living communities and currently holds interests in 133 communities representing capacity for about 12,700 residents in 26 states in the US and Canada. – Rocel Felix