After years unsuccessfully searching for the right joint venture partner in China, Lendlease is going it alone. But the focus is not on the signature urban regeneration projects it is taking to other parts of Asia. The focus is on aged care as Lendlease seeks to tap into opportunities created by China's ageing population and shift away from the traditional model where children look after the elderly in their homes.
In April, Lendlease signed a $400 million deal to build a retirement village with 900 units in Shanghai, making it one of the first foreign companies to break into China's aged care sector without a local partner.
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