STS Development and CAREDOC Join Hands for Senior Care Real Estate Business

Commercial real estate developer STS Development and Caredoc, a senior care service provider, are expanding their real estate business in the senior care sector. STS Development and Caredoc announced on the 19th that they had signed a business agreement for real estate development and operations built around care services. Founded in 2004, STS Development is a mid-sized Korean real estate development company with a track record of more than 50 commercial real estate developments nationwide, including large discount stores, mixed-use retail facilities, lifestyle power centers, officetels, and logistics centers. Caredoc, which provides senior care services, offers a range of life-care services designed to support seniors' positive and healthy living, including caregiver and nurse-matching services and daily living support. STS Development and Caredoc plan to create the services and facilities needed in the right locations, based on the demand of customers who require care. To this end, the two companies agreed to jointly build a broad range of business models spanning real estate development, leasing, and trust management. An STS Development representative said, "As the aging population accelerates, life care that supports seniors' positive and healthy living has become increasingly important," adding, "We will continue to expand our real estate and operations business, including silver towns and nursing hospitals."