BEIJING: The western world has stuffed up its initial foray into seniors housing and care in China.
The most outstanding disaster is the integrated retirement community/continuous care retirement community (CCRC).
One CCRC in Shanghai is occupied but outsources all services, meaning it’s entirely reliant on outside vendors – a model that has not yet been profitable. Other CCRCs face occupancy rates below 5 per cent, while smaller projects that focus on assisted living, nursing care, or memory care are also struggling because…