BUTTERWORTH – The Jayamas Property Group has ambitious plans to transform Butterworth into a haven for retirees, with specialised healthcare facilities located in commercial towers.
The local developer sees Butterworth as a niche location for senior citizens as the Statistics Department has noted that Malaysia will have an ageing population in the next decade.
In July, the department predicted that the country may become an ageing nation by 2030, with people aged 60 years and over surpassing 15% of the working population.
Jayamas managing director Ooi Wei Chong said Jayamas sees this trend as an opportunity for development.
“There must be financial and healthcare planning to avoid problems during retirement,” he told The Vibes.
According to the department’s report, the percentage of the working-age population (15 to 64 years) increased from 52.1% in 1970 to 69.3% in 2020, and this is projected to gradually decrease to 66.9% of the total population by 2040.
Due to an increase in life expectancy, the population is projected to grow to 41.5 million by 2040.
Malaysia’s population totalled 32.4 million in 2020, with Kuala Lumpur and Putrajaya having the highest population density at 8,157 and 2,215 people per sq km respectively.
In view of this, Ooi said that Jayamas has set up its Bagan Suite, located strategically near the Bagan Specialist Centre.
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Medical tourism boost
Earlier this year, Jayamas collaborated with the Jasper Healthcare Group to expand Butterworth’s medical tourism potential by leasing space in one of its hotels as accommodation for elderly patients.
The centre allows short or long-term stays for senior citizens recovering from medical procedures.
Jayamas also plans to work with a French hospitality group to construct a senior residency project in Butterworth.
Ooi added that its recent agreement with the INK Hotel Management Group to operate a boutique hotel here was a step in the right direction.
The hotel offers traditional short- to long-term stays for travellers, nursing care, and confinement services for mothers.
“Raja Uda and Jalan Permatang Pauh in Butterworth are both equally the oldest towns on the mainland before the existence of Seberang Jaya,” Ooi said.
“The latent potential of Butterworth is still there. Based on statistics, there were almost 7,000 Google searches for hotels in Butterworth in Malaysia every month in 2022. However, there are not many suppliers of good, valued hotels.
“Furthermore, Butterworth is well-known for its variety of food selections, from hawkers to restaurants, which most importantly are always available from early morning to late night.”
INK, which inked the deal with Jayamas earlier this month, was represented by its managing director Tan Yen Hong during an agreement signing ceremony earlier this month.
Ooi also said Jayamas will develop a commercial stretch along the Raya Uda commercial area by bringing in a hypermarket concept with new opportunities for investment by traders.
Another advantage of Butterworth is its lower cost of living compared with Penang island, Ooi said, adding that this would have an impact on medical fees.
He said that the Bagan Suite aims to provide flexibility and suitability, with Jasper’s help to aid the recovery of its guests.
Ooi said Jayamas will also target the small-medium industries by providing short stays to their business associates or employees at affordable prices.
Jayamas, a housing developer for the past 11 years, has completed four landed residential projects, three high-rise residential projects, and one landed commercial project.
The company is in the midst of completing one high-rise service apartment project, followed by two high-rise affordable projects, a luxury service apartment, and hotels.
Although there is a property overhang in the market, Ooi said he believed demand for housing will continue to grow despite the rising costs of labour and materials. – The Vibes, December 27, 2022
