GEORGE TOWN – MTT Group of Companies Sdn Bhd has entered into a joint-venture agreement with nursing home specialist Eden-On-The-Park Sdn Bhd (EOP) to develop an integrated senior living resort on the island.
MTT’s subsidiary Botanica Hills Sdn Bhd and EOP will undertake the construction of the RM180 million project, named Eden at Botanica.CT, on a 32-acre parcel in Balik Pulau.
The integrated resort, touted to be the first of its kind in the state, will feature a nursing care residence and a low-density active living resort comprising villas and condominiums in two tower blocks.
The joint venture was inked yesterday between MTT executive chairman and Botanica Hills chairman Datuk Seri Kenny Ong and Eden-On-The-Park Sdn Bhd chairman John Chin at Evergreen Laurel Hotel in Gurney Drive today.
Chief Minister Chow Kon Yeow and state Housing, Local Government, Town and Country Planning Committee Chairman Jagdeep Singh Deo were also present at the event.
Ong said while there might not be clear guidelines on such integrated resorts, he believed such projects would make up a new trend as retirees and the elderly were seeking a better lifestyle.
“I want to play mahjong with my similar aged friends. We want to socialise, hit the recreational trail and also enjoy quality wellness initiatives. Our resort hopes to provide that.”
Ong said he decided to partner with EOP as the latter had developed, among others, the award-winning Kuching Care Residence in Sarawak.
About 10% of the state’s population of 1.7 million are considered senior citizens, said Chow.
The chief minister said he expected this figure to double by 2030 and the state needed to make preparations to accommodate an aging society.
Jagdeep seconded this call and said the state had the potential to develop quality retirement resorts in lieu of the country becoming an aging society in the near future.
To grow the sector, Penang would work with relevant federal agencies to draft clear guidelines for such resorts, he added.
This could also spark spill-over effects as the economy was still reeling from Covid-19, Jagdeep said.
But developers should also ensure that such resorts were affordable to senior citizens, he added. – The Vibes, September 23, 2020.
Reporting by Ian McIntyre and Rachel Yeoh
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