New-generation senior living developments are set to replace SA's outdated retirement village model
Unlike the US and Australia, where retirement property is regarded as a lucrative asset class in its own right, the sector has been largely ignored in SA. Now that’s changing, as more private equity investors and developers bring innovative senior living products to the market.
Gidon Novick, former Comair CEO who last year launched new domestic airline Lift, is one such investor. Novick’s Lucid Ventures, the hospitality investment company he co-founded in a bid to redefine the boutique hotel space in SA, is now also betting on the retirement sector...