In aging Thailand, developers race to supply locals and elderly expats

BANGKOK - At 79, Thai businessman Boon Vasin's latest $500 million venture is a bet on a market he knows well - looking after Thailand's rapidly growing population of old people.

Not only is Thailand aging faster than its neighbors, but it is also becoming an increasingly popular retirement option for foreigners attracted by its agreeable climate, low living and health costs and culture of service.

"We will look after them from their waking hours until they go to sleep," said Boon, chairman of the Thonburi Healthcare Group Pcl.