Korea Land Trust and Haean Architecture Sign Business Agreement for Collaboration on Senior Housing Development and Operations

Cooperation on Senior Residence Product Planning and Investment Attraction

Korea Land Trust announced on April 22 that it has signed a business agreement with Haean Architecture Office to collaborate on senior residence projects. The aim is to proactively respond to rapid population aging and to develop premium residential models tailored to the needs of seniors.

Officials from Korea Land Trust and Haean Architecture Office are taking a commemorative photo after signing a business agreement on the 21st. Photo by Korea Land Trust

The two companies plan to invigorate the private senior residence market, which is currently experiencing a supply shortage, by building a differentiated senior housing platform. Korea Land Trust expects to create synergy by combining its accumulated expertise in real estate development and asset management with Haean Architecture's know-how in senior-friendly architectural design and planning.

Through this agreement, the two companies will cooperate on senior residence product planning, collaboration on investment attraction, and the establishment of strategies to strengthen operator partnerships and brand value.

Korea Land Trust, a real estate trust company, has supplied housing for approximately 280,000 households nationwide over the past 30 years, as well as commercial and office facilities. The company manages real estate investment trust (REITs) assets worth about 3.5 trillion won, demonstrating stable asset management capabilities across a wide range of sectors including residential, commercial, and mixed-use developments.

Haean Architecture has gained international recognition for its competitiveness, having ranked among the top companies on the "2024 World Architecture Top 100" list published last year by the UK-based architectural media outlet Building Design. Over the past few years, the company has reviewed more than 50 senior residence projects and has expanded its business scope beyond design to include early-stage project planning and consulting.

Notably, Haean Architecture coordinated all phases of the 'VL Lauer, Latib' senior complex project in Busan and is currently undertaking senior housing projects in Hannam-dong, Seoul and Dongin-dong, Daegu. The company also recently participated in the government's Silver Stay project.

Through this partnership, the two companies plan to actively respond to the growing demand for senior housing and provide integrated solutions that encompass both architectural approaches and improvements in quality of life.

A Korea Land Trust official stated, "Our entry into the senior residence business is a strategic decision to diversify our portfolio into new growth industries, based on our long-standing experience in trust and asset management," adding, "We expect to provide stable business opportunities for landowners and offer practical solutions to the growing societal demand for senior housing."