The Aspen Tree, a Bangkok-based specialist in communities for older adults, has signed a letter of intent (LOI) for Toronto-based Baycrest to manage operations and set global standards at its launch community at The Forestias in Bangkok.
Caption (from left): Mr. Gabriel Laflamme, Second Secretary and Vice-Consul The Embassy of Canada; Ms. Munkhtuya Dimitrov, Assistant Vice President of The Aspen Tree; Mr. Raj Tanta-Nanta, Group President of DTGO Corporation Limited and Chairman of the Executive Committee of MQDC; H.E. Madame Donica Pottie, Ambassador of Canada to the Kingdom of Thailand; Dr. William E. Reichman, President and Chief Executive Officer of Baycrest Health Sciences; Ms. Hye June Park, President of The Aspen Tree; and Ms. Weerawan Suwannachat, Vice President of The Aspen Tree, attended the signing of a letter of intent (LOI) between The Aspen Tree Corporation Limited and Baycrest Global Solutions at Research & Innovation for Sustainability Center (RISC), 4th floor, Magnolias Ratchadamri Boulevard.
The Aspen Tree, a Bangkok-based specialist in communities and services for older adults, has signed a letter of intent (LOI) with Baycrest Global Solutions under which the renowned Canadian company will oversee operations at its launch community, bringing world-leading standards to Thailand’s eldercare sector.
Under the LOI signed at Research & Innovation for Sustainability Center (RISC) at Magnolias Ratchadamri Boulevard, Baycrest Global Solutions, a subsidiary of the Toronto-based Baycrest Centre, will manage operations at The Aspen Tree’s first project, a luxury community at The Forestias in Bangkok where 290 midrise condominiums along with services, facilities, and activities will help older adults stay happy, healthy, and active.
The Forestias is a 119-acre green district being built at Bangna by The Aspen Tree’s parent company, international developer Magnolia Quality Development Corporation Limited (MQDC).
Baycrest is a global leader in geriatric residential living, healthcare, research, innovation and education, with a special focus on brain health and aging. Baycrest’s excellence was recently recognised as one of the best specialised geriatric care organisations in the world by Newsweek Magazine’s World’s Best Hospitals 2019 Report.
The Aspen Tree President Ms. Hye-June Park said the agreement would bring a level of excellence to spark a revolution in the market amid Thailand’s rapid shift to an aging society and the region’s gathering ‘grey tsunami’.
“Baycrest is globally renowned for its eldercare expertise, having served older adults in Toronto for over 100 years, uniquely combining research and care to develop pioneering evidence-based approaches,” she said.
“Baycrest’s first collaboration in Southeast Asia marks a new level of professionalism to propel the sector here and across Asia. The Aspen Tree and Baycrest will look to bring ‘aging-in-place’ model to other Asian markets, offering a winning combination of lifestyle and healthcare to address the challenges of aging societies.”
Dr. William E. Reichman, President and CEO of Baycrest, said the collaboration heralded new opportunities for successful aging in Asia.
“The Aspen Tree’s vision to combine global best practice in eldercare with its lifestyle expertise in design and services represents a compelling new offer in Asia,” he said.
“Baycrest and The Aspen Tree are united in our dedication to bringing ‘successful aging’ to the region, giving older adults control over their own care. We look forward to ensuring the highest quality of life at a community where every element – from green surroundings to residences with ‘universal design’ for older adults, wellness programs, a Health & Brain Center, and other facilities – will enable residents to ‘age in place’ happily and healthily.”
Signed by Mr. Raj Tanta-Nanta, Group President of DTGO Corporation Limited and Chairman of the Executive Committee of MQDC, and Dr. Reichman, the LOI establishes a collaboration to create an upscale community with international standards that can provide a model to be adapted for other income segments and international markets.
