Thakral to expand Australia retirement resort portfolio with site acquisition

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MAINBOARD-LISTED Thakral Corporation has acquired 13.4 hectares of land in New South Wales, Australia, through its GemLife joint venture for an undisclosed sum. Read more at The Business Times.

The resort is said to be near shopping centres, medical facilities, public transport and entertainment venues.

Thakral Corp's group chief executive and executive director, Inderbethal Singh Thakral, said the group's investment in GemLife remained"robust" despite the Covid-19 pandemic and is expected to deliver"sustainable and positive returns over the long term". "Research shows that the number of persons aged 65 and above is set to almost double in Australia over the next two decades. Baby boomers are now not just looking for a home, but a lifestyle for them to spend their golden years," he added.

Greggory Piercy, director of GemLife and joint managing director of Thakral Capital Australia, said the new resort is an"attractive and unique investment opportunity in beachside living in a subtropical environment".For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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