The government's senior housing complex is expected to begin construction next year, with reservations starting this year, says the Treasury Department.
The 3-billion-baht senior complex, a must as the country becomes an ageing society, is located on 72 rai in Bang Phli district, Samut Prakan province.
This is the first project by the Treasury Department using state land to develop an elderly home, in line with the government's policy, said director-general Yuthana Yimkarun.
Funding for the project will come from three state-owned financial institutions -- Government Savings Bank, Krungthai Bank and GH Bank -- which are all offering loans for project construction, Mr Yuthana said.
The project will be divided into three main zones, with the first zone designated as a hospital. Ramathibodi Hospital will be the operator of the facility on 32 rai.
Ramathibodi Hospital is requesting an additional 10 rai to expand the hospital by 1,000 beds.
The second zone of 20 rai is designed as a residence for the elderly, and the third zone is designated as an accommodation area for elderly patients.
The first phase of development of the senior complex will cover 900 units with units of 35 square metres, priced at 1.8-1.9 million baht for a lease period of 30 years or longer.
To qualify, the minimum age is 55 and subscribers are expected to identify as middle-income earners.
There will be a maintenance fee for upkeep of common areas and various recreational activities, excluding medical expenses and meals.