At the end of 2022, Keppel Land announced the acquisition of a newly built senior care facility in Qixia District of Nanjing from China Overseas Land and Investment Limited (COLI). Upon renovation, the company will launch and operate its first high-quality enabling senior care facility under its banner, which has approximately 400 beds. As the starting point for Keppel's foray into China's senior care business, we harbor numerous curiosities about both this facility and Keppel itself as a new entrant to China's senior care sector.

As a provider of urban space solutions, Keppel Land has been present in the Chinese market for more than 30 years—so why did it choose to enter China's senior care industry in 2022? Furthermore, foreign-funded enterprises venturing into China's senior care sector is nothing new, yet as one of the few Singaporean players in this track, what eye-catching changes will Keppel bring to China's senior care service industry? Besides the ongoing Nanjing project, what future layout and strategic plans does Keppel have for its development in China?

With a series of such questions, we visited the China headquarters office of Keppel Land in Jing'an District, Shanghai, and interviewed Mr. Gao Tianli, General Manager of Senior Care Business at Keppel Land.

Interview Content

Journalist:The Several Opinions of the State Council on Accelerating the Development of the Senior Care Service Industry (Document No. 35 of the State Council) issued in 2013 proposed that a well-functioning, appropriately scaled and urban-rural inclusive senior care service system would be fully established by 2020. For this reason, 2013 is known as the "first year" of China's senior care industry in the sector. Nearly a decade later, Keppel Land is entering China's senior care market for the first time to renovate and operate a senior care facility in Qixia District of Nanjing. May I ask what strategic considerations have led Keppel to enter China's senior care market at this specific time?

Gao Tianli:Keppel Land has deep roots in the Chinese market for 30 years. In line with the Group’s Vision 2030, Keppel is transforming itself into a world-leading asset manager and operator with strong capabilities across the sectors of Energy & Environment, Urban Development and Connectivity. Keppel Land is also accelerating its transformation into an innovative provider of urban space solutions.

Our strategy to enter China's senior care market is fully aligned with this transformation strategy of Keppel Land. Keppel has designated senior care business as one of its key growth engines, and we are actively exploring development opportunities in the senior care service sector across China, Singapore and other countries and regions, aiming to become a world-leading operator of high-quality senior care facilities.

With the deepening of population aging in Chinese society and sustained economic development, people are paying increasing attention to the social life and spiritual fulfillment of the elderly, and the demand for enhanced physical and mental health and comprehensive care is growing ever stronger. In contrast, there is a severe shortage of beds in senior care facilities in many Chinese cities, especially a lack of high-quality and premium senior care facilities. Additionally, in February 2022, the State Council issued the 14th Five-Year Plan for the Development of National Aging Undertakings and the Senior Care Service System, which emphasizes implementing the national strategy of actively responding to population aging, with three core priorities: accelerating the improvement of the social security, senior care service and health support systems. Against this social and policy backdrop, Keppel believes that entering China's senior care industry at this moment presents an excellent market opportunity.

Journalist:Keppel Land has chosen Nanjing as the location for its first senior care project, and is entering the market with a heavy-asset model—what considerations lie behind this choice? Additionally, will Keppel continue to expand domestically with a heavy-asset model in the future, or will it also consider a hybrid model combining light and heavy assets?

Gao Tianli:With the continuous rise in residents' life expectancy and living standards, the development of China's senior care market holds great promise. As one of the most developed cities in the Yangtze River Delta, Nanjing also has a relatively high aging rate – it has a population of 9.42 million, with nearly 20% being people aged 60 and above. Therefore, choosing Nanjing as the city to launch Keppel's first senior care facility in China is also a market-driven decision.

In addition, as we have mentioned, Keppel’s goal is to transform into a global asset manager and operator. By launching our first senior care project in Nanjing, we aim to build it into a flagship project of Keppel to demonstrate our operational strength and innovative capabilities, thereby gaining the trust of customers and the market.

Looking ahead, Keppel Land will continue to actively explore new opportunities and develop new growth engines and operational platforms. We will also foster synergies through joint investments by private investors of Keppel Capital, a subsidiary of Keppel, as well as the real estate investment trusts (REITs) and business trusts managed by Keppel Capital. Meanwhile, we will create and add value through our light-asset operational model.

Renderings of Keppel Nanjing Enabling Senior Care Facility

Journalist: Could you talk about Keppel's overall development plans and layout for its senior care business in China going forward?

Gao Tianli:Our goal is to build a world-leading high-quality enabling senior care facility, offering a lifestyle that transcends the traditional model. We empower seniors to live in accordance with their own wishes, and enable them to lead a fulfilling and wonderful later life.

Backed by technology and innovation, Keppel delivers a high-quality life for seniors with different physical conditions by creating a joyful living atmosphere and providing more personalized, refined comprehensive care services. Over 100 social and recreational activities enrich seniors’ physical and mental well-being; the green, natural Singaporean garden-style spatial design fosters a pleasant environment; the prime location in the city’s core area facilitates the daily lives of seniors and their family and friends; and the Singaporean quality control system plus an international professional team ensures stringent oversight of service quality. Through the seamless integration of these services, we not only ensure that seniors enjoy a more comfortable and fulfilling retirement, but also enable them to maintain close connections with their former social circles and beloved family and friends. In doing so, we empower seniors to regain a sense of control over their lives and unlock their inner potential.

Looking ahead, our Nanjing project will serve as a showcase of Keppel’s professional strength in senior care, and as a flagship launch project, it will drive our further expansion into the senior care markets of China and other countries and regions.

Renderings of Keppel Nanjing Enabling Senior Care Facility

Journalist:Post-operation services for senior care projects are also of great importance. As a renowned Singaporean multinational corporation, does Keppel have any special resources or advantages in these areas?

Gao Tianli:First and foremost, when it comes to senior care operations, the key to success lies in talent. We have built a professional and highly experienced management team for our senior care business, whose members have served at leading senior care facilities in China, Singapore, Europe and the United States, boasting years of successful operational and managerial experience. We are also striving to further expand our network of partners in caregiving, scientific research, talent development and technology, to jointly empower the sustainable development of our senior care business.

Furthermore, while Keppel is entering China's senior care market for the first time, this does not mean we lack service experience in related fields. Keppel Capital, a subsidiary of Keppel, holds a 50% stake in Watermark Retirement Communities, one of the largest senior care operators in the United States. The company manages more than 65 senior care communities across the US with a total of over 11,000 beds, and provides a diverse range of services including active aging care, general care and memory care.

Last but not least, in line with Keppel's commitment to sustainable development, our Nanjing project will be developed into a new-type low-carbon, energy-efficient and eco-friendly senior care facility, creating a green and smart living environment where our residents can breathe fresh air at all times.

Based on all this, we are fully confident that Keppel Land has the ability to seize opportunities and achieve the development goals we mentioned earlier – to build a world-leading high-quality enabling senior care facility, offer a lifestyle that transcends the traditional model, empower seniors to live in accordance with their own wishes, and enable them to lead a fulfilling and wonderful later life. We are also actively exploring a broader partner platform and building a more integrated senior care operation platform.

Journalist:Could you provide more specific details about Keppel's senior care project in Qixia District, Nanjing?

Gao Tianli:The senior care project we acquired in Nanjing is scheduled to open at the end of this year, with a total of approximately 400 beds. It is designed to provide high-quality institutional senior care services for the elderly in Nanjing. In addition to offering comprehensive care services to our residents, our Nanjing facility will also provide day care and home care services, benefiting residents in the surrounding communities.

As I mentioned earlier, here, we will provide the elderly with a beyond traditional lifestyle.

First and foremost, the Nanjing project is located in Yanziji New Town of Qixia District, Nanjing, adjacent to the Muyan Riverside Scenic Area. It is surrounded by Grade A tertiary hospitals (such as Jiangsu Province Hospital of Integrated Traditional Chinese and Western Medicine, and the Maigaoqiao Campus of the Second Affiliated Hospital of Nanjing Medical University), as well as parks, schools, and commercial and entertainment facilities. This prime location allows the elderly to maintain close connections with their original social circles. Joy is a core focus of our services. At our Nanjing facility, we will offer a rich activity calendar covering the nine dimensions of health, with more than 100 recreational and wellness activities in total. These include cultural and recreational activities, therapeutic and preventive wellness programs, intergenerational integration activities, and social events, ensuring that the elderly with different physical conditions, backgrounds and hobbies can find their own joy in life here. In addition, the Nanjing project features a Singaporean garden-style spatial design, abundant interactive activity spaces, outdoor and rooftop gardens. We have created an immersive living "paradise" for the elderly, building a Singaporean-style green living environment.

Furthermore, personalized and refined fully integrated care is another of our distinguishing features. Through research-backed multi-dimensional intelligent assessment tools, we gain a comprehensive understanding of the elderly's physical, mental, psychological and social conditions. Based on their preferences, aspirations and past living habits, our multidisciplinary team will customize and implement highly personalized comprehensive plans for each elderly person—including a full care plan and personal life goals—and conduct regular evaluations to optimize these plans. Our aim is to always keep a stone's throw away from our elderly residents: guarding them without disturbing them. We empower the elderly with different physical conditions to live in accordance with their true wishes, to enjoy the present moment in a happy, healthy and fulfilling way, and to enhance their sense of autonomy and control over life. The Nanjing facility provides comprehensive services ranging from active independent living support to general care and memory care, empowering the elderly with all types of physical conditions.

Technology also empowers our services and care teams in a more effective way. Here, we continue to pursue independent innovation and develop an intelligent operation and care system. Leveraging advanced intelligent health assistance equipment, we apply a refined system for health assessment, monitoring and risk prevention, and build an online-offline integrated family connection platform. With technology as the foundation, we drive innovation in the senior care industry, improve the health of the elderly and strengthen the emotional bonds between them and their families.

Journalist: The cultivation of professional senior care talent is a key priority for the industry at present. Could you tell us about the actions and initiatives Keppel will take in this regard going forward?

Gao Tianli:We firmly believe that talent is the core of the senior care service industry. We focus on attracting and retaining high-caliber senior care professionals to ensure the quality of our services and the standards of our premium operations. Therefore, providing them with better incentives and a broader development platform is the top priority of our talent development efforts.

We deliver internationally leading theoretical and practical training, and work closely with our frontline nursing teams to refine our practices. This not only ensures that our employees can provide higher-quality services, but also supports them in achieving their professional goals and aspirations.

Furthermore, leveraging the advantages of Keppel's own large platform as a multinational corporation, we offer our employees a more extensive career development and promotion system. In addition to the aforementioned professional senior care training, Keppel also provides specialized courses covering international care and operations, smart operational innovation, and sustainable development.

We will also provide stronger support for our employees' personal development and a care mechanism for their families. By virtue of Keppel's diversified platform, we strive to foster a corporate culture of unity and collaboration.

Renderings of Keppel Nanjing Enabling Senior Care Facility

Through our interview with Mr. Gao Tianli, we can feel the professionalism and passion Keppel has poured into its first senior care facility project in Nanjing. As a Singaporean multinational corporation, Keppel has integrated its large platform resources with its professional strengths in senior care, aiming to build a high-quality senior care facility that is senior-friendly, family-friendly, eco-friendly and even talent-friendly. Keppel's Nanjing project is set to open officially at the end of this year, and we sincerely hope that Keppel can bring newer and better possibilities to the elderly in Nanjing, and even to the future development of China's senior care service industry.

In addition, Keppel Land will participate in the 2023 Shanghai International Exhibition on Senior Care, Assistive Devices and Rehabilitation Medicine held in Shanghai from May 30 to June 1 this year, at Booth No. W4A12. It will also launch its own brand of enabling senior care facilities during the exhibition.

Together, we make the elderly's tomorrow more promising.

Interviewee Profile

Mr. Gao Tianli (Nathaniel Farouz) has served as General Manager of Senior Care Business at Keppel Land Singapore since 2021, overseeing the expansion and management of Keppel Land’s senior care business in Asia.

Mr. Gao Tianli (Nathaniel Farouz) has served as General Manager of Senior Care Business at Keppel Land Singapore since 2021, overseeing the expansion and management of Keppel Land’s senior care business in Asia.

Mr. Gao also once served as Deputy Chief Executive Officer (Deputy CEO) of Pacific Orpea Company, a joint venture established by Orpea and Pacific Insurance. He also participated in the planning, construction and operation of several senior care facilities in China.

Before entering the senior care industry, Mr. Gao was engaged in strategy and mergers and acquisitions work at several well-known multinational companies in Beijing and Kunming.

Mr. Gao graduated from Sciences Po Paris (Institut d'Études Politiques de Paris), holding a Bachelor’s degree in Political Science and a Master’s degree in Public Administration. He also holds a Master of Business Administration (MBA) degree from HEC Paris. He received training in gerontology and geriatric care at Sorbonne University in Paris, France, and studied anthropology at Harvard University. He is proficient in three languages: French, English and Chinese.