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Tiong Seng makes foray into China’s ‘Silver Economy’ with opening of Watermark Tiong Seng Lifestyle Centre
Transactions - OCTOBER 30, 2024

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Tiong Seng makes foray into China’s ‘Silver Economy’ with opening of Watermark Tiong Seng Lifestyle Centre

by Kali Persall

Construction group and property developer Tiong Seng Holdings has opened its flagship Watermark Tiong Seng Lifestyle Centre in Tianjin, China. This is being carried out by Tiong Seng Silvercare (TSSC), which was established in 2024 as the firm’s vehicle for developing senior living facilities in China.

Tiong Seng said this is part of the group’s efforts to leverage robust growth opportunities in China’s “Silver Economy” and address accelerating demand for assisted living and care facilities.

As both Singapore and China grapple with rapidly aging demographics, the respective governments are actively responding to the needs of their seniors. In 2023, nearly 297 million people in China were aged 60 and above — a figure set to exceed 400 million by 2035. To address the challenges posed by its aging population, China has introduced 26 key measures.

In Singapore, national initiatives such as Age Well SG and Healthier SG seek to promote active aging and cre

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