Evergrande to tap into China’s ‘silver hair’ market

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Evergrande Group office building in Shenzhen. Photo: AFP

Evergrande Health, the healthcare arm of Evergrande Group, the second-largest property developer by sales in China, is marching into the elderly care sector with its Health Valley project, Yicai.com reported.

The project is an experiment to combine the so-called “silver hair economy” with real estate development. The Valley, which features commercial housing, is also equipped with 852 healthcare facilities and 867 all-rounded health management services, covering the entire life cycle from pregnancy to centenarians.

The project also includes a 3A hospital as well as cooperation with more than 600 3A hospitals in 67 cities to build up a booking platform for doctor visits and a green channel for hospitalization.

So far, China is the only country in the world that has more than 200 million elderly people, accounting for 16.7% of the total population. Though China’s silver hair market has great potential to be tapped into, there is no prominent business model yet.

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