As the years go by, there are more older people and fewer births. In Colombia, it is expected that by 2031 there will be 10 million people over 60 years of age, which represents an opportunity for growth in the senior living industry.
This market focuses on meeting the needs of older adults with specific products and services.
In Colombia, the senior living market is gaining recognition as a housing and lifestyle option for older people.
Casa Nua, led by its CEO Bernardo Asuaje, is a leading company in this industry in the country. Since its inception in 2017, it has worked in this segment and is currently highlighted by two new projects.
To date, the company has managed to raise close to $100 billion in investments and investment commitments.
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Senior living sector in figures
The company’s first project, located in San Lucas, Medellín, is a building that has reached 97% occupancy. This project was financed by more than 50 private investors, of which 70% are Colombian and the remaining 30% are foreigners.
Asuaje expects the project to generate about $9 billion in revenue and operating profit of about $3.3 billion this year.
These figures could attract more foreign investment and consolidate Colombia as a leader in the senior living industry.
“Senior living rooms, framed within the Silver Economy, are more than a trend or an opportunity, they are a necessity, since the population of older adults is growing exponentially and urgently requires housing, products, and services,” explained Bernardo Asuaje.
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The US senior living facilities market was worth $91.8 billion in 2022 and is expected to grow at an annual rate of 5.53% between 2023 and 2030, due to an aging population.
The businessman has extensive experience in investment banking and venture capital in renowned entities such as Morgan Stanley and TC Latin American Partners, and has worked in the real estate and financial sector for more than 14 years, executing projects and agreements for more than US$2 billion.
The CEO points out that for this 2023 he is behind the development of two new projects, one that will be in the city of Medellín and another in Chía. In addition, he emphasizes that this is just the beginning of a great industry and that it is currently working to reach more cities in the country.
The senior living industry is experiencing rapid growth and this trend is expected to continue due to the increase in the elderly population around the world. As a result, the demand for services in this sector is expected to grow considerably in the coming years.
