Chinese traders plan to invest in dev’t of retirement destinations in RP

A group of Chinese investors are looking at developing a retirement destination for Chinese elderly in the country.

“The Chinese would like to develop a retirement destination in the Philippines. They would like to build first class amenities in a beachfront property for their elderly,” Susan Barlin, co founder of the CEO Club Philippines said in an interview. 

She said in two years time, the country has the opportunity to earn $40 billion from the retirement industry which include income from tourism.”The children of the retirees will want to visit their parents and then take some time off themselves,” she said.

Barlin, who was responsible for bringing the 13 Chinese investors in the country, said aside from retirement, the tourism sector will likewise benefit from the potential Chinese investment. 

According to her, the infrastructure needed for the Chinese Village will take two years to build. However, the benefits from tourism will accrue immediately.

The amenities for the Chinese Village will be strictly first class. The island will have its own airport, hospital, hotel, nursing home and other facilities to make the retirees comfortable.

Jing Ping Li, founder and CEO of Global CEO Clubs for his part said they are still uncertain where the island for retired Chinese will be. 

“We are still looking at possible locations but definitely it has to be an island exclusive to the Chinese,” Li said. 

According to him, the island will be 2,000 acres big in order to accommodate all the fixtures including a hospital.

He said a big part of why they decided to build a retirement village here was the people. “Filipino nurses are the best in the world. We feel welcome here because the people are friendly and accommodating,” the investor enthused.

Li said there is a need to build a Chinese Village outside China because the only beachfront island in the country is already sold out.

Hainan, the smallest province of China, consists of islands but Li said it is very expensive. An acre of beachfront property costs $1 million.

When asked if the Chinese are concerned about their security while in the country, Li said no. “I feel very safe here. I don’t think it’s a consideration at all,” he noted.

The Chinese only island will cater to the parents of the Chinese elite which makes up 10 percent of the entire population.

Beijing Capital City Real Estate Development Co. Ltd. is interested in building the project with a Filipino partner.