Lendlease to open facility for senior citizens

Australia's largest owner, operator and developer of senior living communities Lendlease Corp is poised to build and manage its first senior living community in Shanghai, tapping the demand from the large and growing aging population in the area.

The project, based in Qingpu district, is scheduled to start construction by early next year and the development will be completed in three or four years, the company said.

Shanghai has the most sharply aging population in China. By 2020, more than 30 percent of the city's residents will be over 60 years old.