KUALA LUMPUR: Property developer Bina Darulaman Bhd
(BDB) has embarked on a new business venture in partnership with the Seterra group to meet the increasing demand for elder care services in Malaysia.
BDB executive director, Raja Shahreen Raja Othman, announced that the initiative, named Aman Seterra Sanctuary, is set to launch in two years in Langkawi.
The 5.26-hectare development will be located in Kuala Temoyong, Langkawi.
He said BDB had previously explored opportunities in the hospitality sector, such as hotels and resorts in Langkawi.
"However, we realised that our partner, the Seterra group, is more focused on elderly care services.
"After reassessing, we decided to shift our focus. We considered whether Langkawi could offer something more aligned with elderly care concepts," he told Bernama in an interview.
Raja Shahreen noted that Langkawi's demographic includes many foreigners from Europe, the Middle East, Russia, Japan, and other countries who stay for extended periods to escape harsh climates.
"Langkawi offers a unique appeal for such visitors, and we wanted to capitalise on this. So, we analysed the market and developed a concept catering to these international visitors who want to stay longer in Langkawi.
"For the international market, we are focusing on the Japanese and European markets as they tend to live longer and have the budget to spend. Thus, there is a market for this in the elder care segment. However, our overall target market will include both local and international clients," he said.
He said BDB is close to launching the initiative near the navy base in Langkawi.
"If everything goes as planned, we intend to have a soft launch in May 2025 during the Langkawi International Maritime and Aerospace Exhibition 2025 (LIMA 2025).
"This venture with the Seterra group is about offering a unique blend of ageing care and lifestyle services, catering to those who seek relaxation and care in a tropical setting.
"We aim to provide not only elderly care but also tailored experiences that suit the preferences of long-term visitors, such as gardening or golfing," Raja Shahreen added.
Regarding investment, he said BDB has significant land assets in Langkawi and plans to develop and utilise these properties further.
"We are also evaluating how to balance insurance, medical care and other essential services for our target market.
"In the future, we hope to collaborate with various agencies and partners to ensure a comprehensive care model. We are keen on working with insurance providers and exploring partnerships to address the needs of our clients effectively," he said.
Raja Shahreen noted that the ageing care sector in Malaysia is evolving, with a growing demand for such specialised services.
"We believe that our approach will fill a niche in the market and contribute positively to the company’s revenue stream," he added. - Bernama
