NEW YORK: The four hundred and ninety-sixth entry for the seniors housing Global Awards 2016 has been received.
The Subic Bay Metropolitan Authority (SBMA) has given the go signal for a Japanese company to develop a world-class golf course and a retirement community targeting Japanese senior citizens in Subic Bay.
In a statement on Wednesday, SBMA Chairman Roberto Garcia said the agency awarded the $30-million project to a company led by Japanese businessman Masafumi Miyamoto.
Mr. Miyamoto is the founder of Smart Community Co., Ltd., described as the first and largest continuing-care retirement community in Japan and digital entertainment firm Square Enix Co., Ltd.
“This project is a game-changer for Subic,” he said, noting Mr. Miyamoto’s proposal was based on a market study showing how the aging population has become a financial burden for Japanese people and its government.
