THE NEST, a project by OASIS SENIOR LIVING, has been shortlisted in the finals for the "Best Independent Senior Living Facility" of the year.

Ageing Asia has announced its finalist for the 4th Asia Pacific Eldercare Innovation Awards. Held in conjunction with the 7th Ageing Asia Innovation Forum, the awards ceremony was held on 27th April, 2016 at the Marina Bay Sands Convention Centre, Singapore.

THE NEST, of Bhopal, the latest project of OASIS SENIOR LIVING, has been shortlisted in the top 5 as the "Best Facility of the year, Independent Living category".

There are 5 finalists; the others are from Hong Kong, New Zealand, Philippines and Malaysia. There were 150 entries from 15 countries of the Asia- Pacific region.

This is for the first time that an Indian Project in this sector has made it to the finals, in an International Forum vying for an Award, which is known as the Oscars of the Senior Living Industry.

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Senior Living India.. A Need Whose Time Has Come !!

The senior living sector in India is at the cusp of an epic start. With nearly 100 million seniors, (almost equal to entire population of some countries) there exists an absolute untapped and grossly overlooked opportunity for investment and development, not withstanding the acute need in this sunrise sector for aging seniors.

A significant section of these seniors are independent, financially stable, well-travelled and socially connected. India provides an opportunity to developers, service providers, healthcare players and operators to create solutions specific to India, while leveraging learning from across the globe.

A large stumbling block for senior living in India is the social stigma attached to the concept of Senior Living communities because such communes are commonly referred to as "Old Age Homes"

While Independent and active senior living projects that are currently being offered in India have been accepted whole heartedly by some section of the targeted population, a lot more ground needs to be covered to make this concept acceptable universally.

The immediate need is for reputed corporate and professional developers to also enter this industry apart from pure real estate players. The entry of players with a passion and commitment for developing such projects with a strong emphasis on service will change the perception of such projects being labelled as "Old age homes". CSR initiatives that offer life style oriented homes for seniors and give them an opportunity to live in dignity and independence will also change the face of the industry.

THE BUSINESS OF AGEING COMES OF AGE IN INDIA

In India currently only 1 Senior in every 10,000 is engaged in some form of Senior Living, compared to 12 seniors in every 100 in the USA and 4 seniors in every 100 in Australia.

India, is a relatively a younger country demographically in relation to the USA and Australia, though by 2025 it is estimated that India will have 173 million seniors above the age of 60 compared to the 76 million today. The current demand for senior housing in India is about 312,000 units.

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