⌛ Marc - The Retirement Guy :)

I will now finally introduce myself!

I am Marc from Germany but actually I am working in Manila for the European Chamber of Commerce (ECCP) as well as for the International Chamber of Commerce Retirement and Healthcare Coalition Inc.(ICCRHC). Yaap you are right, too long names

We are looking at the Retirement market in the Philippines and how locals can benefit from it.

Right now I am in the process of writing an Business Plan for an integrated retirement village. As for now, the ideal place I found is Dumaguete and Valencia .
My main concern right now is to find out, if Dumaguete is really suitable and if there is a need for an integrated village. I am not looking at the foreigner who is married to a Filipina/o as these people want to live independent. The project is more for people who r not that familiar with the Philippines and are not able to own land here.

What makes the project interesting is that it will be based on long term lease (lifetime) with an Easy Inn - Easy Out contract. Meaning the retiree can own land, but he can also anytime get out of the contract and get his money back. Let's say he pays P 3.000.000 and he decides to leave the village after 5 years he will still get 70% of his capital back.

What do you think? would this work? I opened an own Thread for it. You can find it under City of Dumaguete "Retirement in Dumaguete. Please reple there. I am looking forward to read you various answers.

Thanks!

 

i have this a bit of thought too

pros :
1.) works for the korean market, which is a market that needs home comforts and culture, i have read about one european development like this that worked
2.) inhouse health care can be offered very affordably

cons : on a whole western people do not buy into the village/community mentality, they want independence, whether it is good for them or not.

there is a market out there, but from my dumb @ss perception, it is quite small and would have to be marketed well.

but what do i know

 

it seems like many, many people including myself are looking for basic housing. imo you are overthinking it. if i were you i would build an apt block and let flats at about 7500-10000 plus utilities. have a pool, garden, meeting area and an area for eating. you could employ a dozen or so locals.

since i have been lurking on this baord seems like this is what many are after - imo your concept is overly complicated and ties up my money on a potentially useless investment which is not the least bit liquid.

my 2 pesos -

 

You work for ECCP? ICCRHC? Someone please do a background check on this guy. No offense. Marc from Germany? Oh, ok, that Marc! Please!

Business plan for a retirement village? Waste of time and money. Look, I dont mean to by cynical. This is just a simple 'apartment complex'. A small time developer's dream. There are many of these places all over the Philippines, take for instance; Pampanga; Patio 1 through 5. (for disabled or not disabled with libraries, swimming pool. generator, etc) Each Patio has like 55 furnished efficeincy apartments. Angeles City Hotels>Patio Inn>Apartments>Apartelle>Balibago> I might add that there is nothing wrong with this 'small time developers dream' its just that please dont try to pass this on as somekind of 'new concept.'

You state that 'as for now the ideal place is dumaguete and valencia.' How the heck do you know this? As far as I can decipher, you have not even been to dumaguete or valencia!

I agree with savetheseamonkeys. Who's money is this that will be used for this idea?

 

Retirement

Why don't you do the background research on your own?? This might help brighten up your horizon

Anyway, that is your personal opinion and you might be partly right. Actually the BP is not directly for a developer, first we will benchmark against Thailand to see if we can compare with the facilities which have been build there so far. We want to understand the market and assist PRA and PRI in marketing the Philippines for retirement. Our strong believe is, that the Global Aging can be a benefit for the Philippines and help us to keep the workforce in the country.

You don't think a project like this could work? Than you might check out the Lotuswell resort in Thailand, Hua Hin.

Anyway no one said that a retirement village is a "new concept" the new thing is just the part how it can be owned. Furthermore as it is also a GTZ project (company who helps developing countries) we want to include local SME's.

And I did research 2 weeks in Dumaguete. Talked to LGU and SME's in Valencia and Dumaguete. Out of my findings I say that Dumaguete is quite suitable for retirement...

Tubigboy, no offend, but do me a favour the next time, first ask people before you start judging them..Ask me what you want to know and I will answer it...Thanks...

Marc, the German

 

Marc, can you explain the abbreviations you used ?
I know what's the PRA (Philippines Retirement Authority).
But what is PRI, BP, LGU, SME's ?
Are you an official advisor for the PRA ?

Note:
I'm a member of their SRRV program (Special Resident Retiree's Visa).
I know that the PRA is using several westerners as advisors for improving their approach, programs and services.

 

Retirement

Hallo Jellyfish,
sorry for all the abbreviations I am simply too used to it...

PRI= Philippine Retirement Incoroporated (an organization assembled by different private organizations facilitating PRA)
BP= Business Plan
LGU= Local Government Units
SME's= Small and Middle Enterprises
PRA= Philippine Retirement Authority

I am working for the International Chamber of Commerce Retirement & Healthcare Coalition, Inc. (ICCRHC). The organization was formed by the American-, European-, Japanese-, and the Korean Chamber. We are a non stock, non profit organization that would guide the retirement sector in the Philippines. We focus on standards, foster international accreditation and cooperation, get involved in human capacity building, provide a seal of good housekeeping and protect the interest of foreign retirees and patients. The reason why it was formed is that the Chamber understand the needs and wants of there clients best, wants to ensure a quality standards and has a good connection to potential international partners. Furthermore we are also working with PRA to help them improve there services.

Meaning I am not looking here for any profit or something like this Thanks for asking, I appreciate that.

I would be deligthed if you could send me the likes and dislikes of your RSSV (Private Message) and what problems did occur, as right now some people seem unsatisfied with how they work. The only way of improving is to know why the clients are unsatiesfied.

Have a great day ahead

 

Thanks Marc.
I will send you my experiences with my SRRV membership in a PM to you.
But I can state here already that in general I'm satisfied with my membership.
Certainly since some time ago, after they improved their communication with the SRRV members.
As you will know there are now special forums on the internet where the different groups of members (one forum for European and Americans, one for Japanese, one for Korean) can put there questions and remarks/complaints.
Forum members react on them and a special PRA representative is responsible for providing feed back from the PRA.
PRA European and American association - Index is the forum website for European and Americans.
Since then more items/problems are openly discussed and helps SRRV holders a lot and gives the PRA a good opportunity for feed back which they can use for improvements to reach their goals to get more retired foreigners to move to (and invest into) the Philippines.

 

I looked up those two different websites (lotuswell resort and GTZ) lotuswell resort is just a resort as far as I could decipher and GTZ is somekind of computer company and did not mention anything about helping developing countries on their website? So, I am a little confused on this. I also went to the website of ECCP and the ICCRHC. No information about you. Do you have a company name? ICCRHC did somekind of presentation on retirement villages a while ago but, this is all I could find for the time being. Just trying to enlighten myself and as you stated,'brighten up your horizon!'

I DO think that a project like this can work and is already working in the Philippines. I know of some people on this site that have small secured developments right on the beach in the Philippines. 'A seal of good housekeeping' would be nice I guess. Other than that, I do not see where your idea is anything different. Maybe the healthcare has some possibilities, but then again, most families hate having to put their loved ones into old folks homes and also if they have to, they like the idea that they can visit their loved ones at the old folks homes whenever they desire. Awfully hard to do if your family lives in Europe or the USA to visit every weekend your loved one in a healthcare or old folks home here in the Philippines!

Many Filipinos are leaving the Philippines to work in healthcare over seas. As nurses or healthcare providers at 'old folks homes', hospitals, etc.

Also, the reason that most of these Filipinos are working overseas OFW's is that the money made over seas is so much more than what can be made here in the Philippines. ' Global aging can be a benefit to the Philippines and help us keep the workforce in the country.' You have a tough hill to climb! Think about it. $60k a year starting as a nurse in the US or $3,000 a year to stay and work in the Philippines!

I hate to take the 'wind out of your sail' but, I just think that this 'dog wont hunt!' Good luck!