New home ownership concept in Thailand
‘The Aspen Tree’ branded residences at The Forestias is offering both a home as well as a lifetime of healthcare and wellness services, and healthcare insurance.
Magnolia Quality Development Corp (MQDC), one of Thailand’s property developers, is introducing a new home ownership concept in Thailand under The Aspen Tree brand –MQDC’s 64-hectare, US$3.7 billion The Forestias mixed-use project. The Forestias is located in eastern Bangkok in the rapidly developing ‘Eastern Economic Corridor’ and is Thailand’s largest private sector property development project.
The new concept combines the offering of a home with the provision of a lifetime of healthcare and wellness services, 24/7 care support, housekeeping services, as well as health insurance and many facilities that will support residents aged over 50 years, all of which are covered in a one-time home buying payment as part of a new ‘Holistic Lifetime Care’ concept of home ownership.
Kittiphun Ouiyamaphun, project director, The Forestias, MQDC, said, “People want uncertainty taken out of their lives, especially as they get older and at a time when the world is living through multiple issues that make the future increasingly unpredictable. With a one-time investment in purchasing an Aspen Tree home, we are essentially removing all the worries and uncertainties of what will happen to many of the living costs that are constantly going up around us, year after year. It is a great value-for-money offer for true peace-of-mind.”
He said that as a part of assuring a worry-free future for homeowners, even common area fees that are liable to keep increasing are waived under the new home-ownership concept.
Hye June Park, president of The Aspen Tree at The Forestias, said, “We’re offering 290 Aspen Tree lifetime care residences ranging from 83 square metres to around 253 square metres that are located at the prime heart of The Forestias giving almost every home a refreshing view of the development’s 4.8-hectare forest.”
According to Park, The Aspen Tree targets a rapidly growing group of affluent over-50s who are looking for a home that is both right for them now, as well as being one that will “allow them to live independently and with full health, wellness, and professional care services readily accessible when they reach their ‘most golden years’ in decades ahead”.
The new home ownership concept includes, in addition to lifetime residency, a lifetime service package that provides healthcare and wellness services, housekeeping services and catering for special dietary needs, as well as access to communal dining areas and a clubhouse where social activities such as art and crafts workshops and regular physical and mental fitness programmes are organised. Many of these are provided without extra charge and on top of the health insurance programme that covers medical and nursing needs until the age of 99. The Aspen Tree also includes the Health & Brain Center where more specialised medical needs are provided for residents, if needed.
The unique design features being introduced in the homes are extra-spacious bathrooms, wider-than-usual corridors and doorways, and a special emphasis on safety and easy maintenance. The homes are offered fully-fitted, and semi-decorated.
Park said, “During the introductory period until May 31, 2022, we are inviting friends to book units together as part of a limited ‘Best Friends Forever’ package that gives each buyer up to US$62,000 (around S$84,213) in discounts and cash credits.”
She said that people who have purchased residences in other parts of The Forestias could also introduce their friends and relatives to The Aspen Tree and that buyers coming with such a reference also qualify for the discounts and the credits, while the referring resident will receive a special cash award of up to US$12,000 (around S$16,299).
The Forestias includes commercial space for offices, a sports complex, lifestyle and family entertainment facilities, retail and food and beverage outlets, and a town centre for community activities and cultural pursuits. There is also a family centre, a theatre, an event hall, multiple markets, and an extraordinary 4.8-hectare forest at the centre of the development with a 1.6-kilometre forest canopy walkway weaving through the forest.
(** PHOTO CREDIT: Magnolia Quality Development Corp)