The Aspen Tree brings Canadas Baycrest to Thailand to manage world-leading eldercare at The Forestias

Real Estate Press Releases Monday December 2, 2019 16:56
Bangkok--2 Dec--MQDC

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 today 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 recognized as one of the best specialized geriatric care organizations 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.

About Baycrest

Through its strategic relationship with Baycrest Health Sciences, one of the world's top academic health sciences centers in aging and brain health, Baycrest Global Solutions Inc. helps healthcare providers deliver the best in geriatrics programming, therapies, education, and technologies.

Founded 100 years ago and located in Toronto, Canada, Baycrest is a global leader in geriatric residential living, healthcare, research, innovation, and education. Baycrest provides care daily to over 1,500 older adults. The center also trains 1,500 students annually from over 50 colleges and universities.

Baycrest was recognized as one of the world's best specialized geriatric care organizations by Newsweek Magazine's World's Best Hospitals 2019 Report. Baycrest is an advisor to governments, educational institutions, and the private sector on healthcare policy and geriatric care. In 2018, the federal government of Canada appointed Baycrest's President and CEO, Dr. William E. Reichman, as co-chair of the newly established Ministerial Advisory Board on Dementia.

About The Aspen Tree
The Aspen Tree is a Thailand-based specialist in services and living communities for older adults dedicated to achieving global best practice.

Established by international property developer Magnolia Quality Development Corporation Limited (MQDC), The Aspen Tree has a founding commitment to 'lifetime care' and 'aging in place', giving older adults the security of continued support.

Through collaborations with global leaders, The Aspen
Tree's 'full-spectrum' services will combine specialist care and lifestyle amenities to provide the highest quality of life along with the finest healthcare.

The Aspen Tree's launch community will be at The Forestias, a 119-acre mixed-use development at Bangna in Bangkok, where residents will live amid extensive green spaces in a neighborhood with a multitude of on-site leisure healthcare, retail, work, and cultural facilities.

Under MQDC's commitment 'for all well-being', The Aspen Tree operates with concern for human and environmental well-being.
The Aspen Tree also embraces the MQDC principle of 'sustainnovation', applying insights from psychology and other research fields to supply unmet social needs through innovative technology.
About Magnolia Quality Development Corporation Limited (MQDC)

Magnolia Quality Development Corporation Limited (MQDC) is a property developer that develops, invests in, and manages residential, mixed-use, and 'theme' projects, including retail and hotels, with a corporate commitment 'For All Well-Being'.

MQDC brands include Magnolias, Whizdom, The Aspen Tree, and Mulberry Grove, catering for a range of healthy, sustainable lifestyles.
The company provides an industry-leading 30-year warranty on its residential units in line with its exceptional construction standards.

Under its philosophy of 'sustainnovation' MQDC aims to lead its sector in sustainability. The company supports the Bangkok-based Research & Innovation for Sustainability Center (RISC), Asia's first research base for sustainable building with a focus on well-being.

MQDC is determined to operate with concern for all life on Earth, advancing this agenda through sustainable development for the wider benefit of society.
For more information, visit www.mqdc.com.

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