Evergreen Lifestyle is changing the way people retire
I n its Emerging Trends in Real Estate in Europe report last year , Price Waterhouse Cooper highlighted retirement real estate as the second best investment opportunity after logistics facilities . A report by the Property Council of Australia , meanwhile , predicts that demand for retirement living will double between 2015 and 2025 .
In South Africa , the situation isn ’ t much different . Statistics show that in just over a decade , by 2030 , the country ’ s retired population of those aged 60 and older will surge to 6.8 million people . As in other countries , this market has been chronically underserved in terms of living solutions .
This increase in the size of the aging population group has led to an increased need for suitable retirement accommodation , which is emerging as a growing real estate opportunity , both globally and locally . Property developers are responding by seeking innovative ways to meet the lifestyle needs and requirements of today ’ s retirees , needs that differ considerably from those of past generations .
One such developer is Evergreen Lifestyle . Established in 2008 , Evergreen Lifestyle is South Africa ’ s premium retirement brand . The business began with a vision to change the retirement landscape in South Africa , offering a partnership for life based on five key pillars : physical security , financial peace of mind , continuous care , a sense of community and exceptional hospitality .
Evergreen currently has seven operating villages in the Western Cape and Gauteng , and a further six in the
development pipeline . The Group ’ s long-term intention is to grow its stable to approximately 20 villages , comprising 10 000 units , with a collective value of R30 billion .
Evergreen Lifestyle is a subsidiary of the Amdec Group , South Africa ’ s leading developer of new urban lifestyles . The Group ’ s prestigious portfolio of leading real estate brands include Melrose Arch in Johannesburg , Harbour Arch and The Yacht Club in Cape Town , Val de Vie and Pearl Valley in the Cape Winelands , Sitari Country Estate outside Somerset West , and Westbrook in Port Elizabeth .
In 2017 , PSG Alpha Investments , a subsidiary of the JSE listed PSG Group , acquired a 50 % stake in Evergreen Lifestyle . With investments such as Curro Holdings ( private education ) PSG has been instrumental in transforming the industries in which it invests .
The partnership with Evergreen marked PSG Alpha ’ s first move into the retirement sector . “ I don ’ t think we ’ ve ever made an investment that ’ s hit the ground running as hard as Evergreen ” remarked Piet Mouton , CEO of the PSG Group , recently .
Backed by these two powerful shareholders , Evergreen Lifestyle has been able to take a long-term view of incorporating international best practice and bringing to market innovative building and healthcare design as well as first-to-market sales enablement products .
4 OCTOBER / NOVEMBER 2020 SA Real Estate Investor Magazine