The foreign chambers-led Retirement and Healthcare Coalition (RHC) advised Philippine developers to start graduating towards the development of full-fledge retirement villages.
The RHC, led by the European Chamber of Commerce of the Philippines (ECCP), said that property developers should look beyond mere “sleeping quarters” as other countries in the region have already went ahead with their own infrastructure build-up to get a bigger share in the ballooning silver market.
RHC executive director Marc Daubenbuechel said developers in the country should not just sit back and take foreign retirees for granted because by 2030, 25 percent of the world’s population will be comprised of the silver market.
“The increasing numbers of retirees that are looking for homes outside their own countries are increasing each year. The Philippines must be able to cater to their needs for retirement communities that fit their lifestyle,” Daubenbuechel said.
Daubenbuechel lamented that property developers are currently contented in offering “sleeping quarters” that do not have vital components that pertain to leisure, entertainment, health, and wellness of foreign retirees.
To further promote and assist in the development of the country as a prime retirement destination, the RHC has been holding a series of seminars and forums with key players in the industry including the upcoming “Senior Residences in Asia: The Fundamentals” slated November 27 in Makati City.
“There should be a deeper understanding of how the players in the local industry should move forward,” Daubenbuechel said.
In partnership with the Philippine Retirement Authority and endorsed by the Australian-New Zealand Chamber of Commerce, the forum will discuss return on investments, various business models, and the key concepts within the retirement industry.
Among the resource persons confirmed include CB Richard Ellis chief executive officer Frederick Santos, Hotel Resort Development Corp – Managing Director Jean Luc Kebers, and Palafox Associates president Felino “Jun” Palafox Jr.
Aside from the ECCP, the RHC also counts the American, Japanese, and Korean chambers of commerce as its members.