Retirement villages development business model in Malaysia

Abstract

The retirement village market in Malaysia is still considered a blue ocean due to having low supply. Following the developments of retirement villages in Malaysia, it can be observed and stated that there is no single uniform business model being implemented. Evidently, there are a number of different business models being adopted in these retirement village developments. Therefore, this article aims to identify the types of business models being adopted in the development of retirement villages in Malaysia. This qualitative study was obtained through reference materials, books, past journals, past theses, newspapers, internet sources as well as past research related. As a result, there are three distinct types of business models that can be found in Malaysia, which are the sale outright model, lease for life model and rental model. The involved parties in providing and developing the retirement homes have been so mindful and creative with the implementation of their respective business models in order to come up with a formula that is successful in Malaysia.