Canada Senior Living Market Analysis News

Recent industry report about Canada Senior Living Market Analysis company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Canada Senior Living Market Analysis industry experts.

Canada Senior Living Market Analysis News

Oct 2022: Optima Living and joint venture partner Axium Infrastructure have purchased eight seniors' supportive-living homes in Alberta and British Columbia from H&H Total Care Services for more than USD 300 million. With this sale, the joint venture now has 18 care facilities in British Columbia and Alberta. Optima operates over 2,200 beds, providing congregate living options for seniors.

Oct 2022: Enquire, Glennis, and Sherpa have joined forces to create the senior living industry's market-leading software platform, uniquely positioned to improve the lives of older adults and those who care for them by delivering the first comprehensive, scalable end-to-end software solution designed by and for senior living providers. The merged firm will service more than 50 of the top 150 senior housing operators, as well as over 800 clients representing 5,700 locations in the senior living, post-acute, and home care sectors.

Feb 2022: Sienna Senior Living announced an agreement to acquire a 50% ownership interest in a portfolio of 11 senior living assets in Ontario and Saskatchewan, consisting of 1,048 high-quality, private-pay suites. Sienna will acquire the portfolio in partnership with Sabra, which is acquiring the other 50% interest, with Sienna as the manager of the portfolio. Sienna and Sabra will acquire the portfolio from Extendicare Inc., with the portfolio representing the entirety of Extendicare's currently owned private-pay retirement properties in Canada.

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  • June 2024: In collaboration with Ladun Investment Company, Cheval Collection planned to introduce its opulent serviced apartments in Riyadh, Saudi Arabia. The construction of the Cheval Ladun Living is slated to kick off this year, with an anticipated completion date of 2027.
  • December 2023: In Jeddah, Saudi Arabia, the National Housing Company rolled out 757 new residential units across two projects: Med Sadeem and Khayal Hostel. These projects have modern amenities, featuring villas, townhouses, and apartments. Both projects are being developed under the National Housing Company’s public-private partnership initiative.
  • February 2024: The Mississippi Small Business Development Center, in cooperation with the DeSoto County Economic Development Council, opened a satellite office. In DeSoto County and Northwest Mississippi, the alliance aims to improve access to critical funding sources and support for entrepreneurs. The newly set up office of the DCEDC will serve as a focal point for entrepreneurs seeking guidance, experience, and resources to deal with complex development and growth issues.
  • October 2023: CBRE's Trammell Crow Co., a real estate development business, acquired Candour, a London-based office developer. With the acquisition, Trammell Crow expanded into additional property sectors in the United Kingdom. According to CBRE, the acquisition was part of a plan to expand Trammell Crow Co.'s focus on manufacturing in Europe and developing office assets throughout the continent.
  • June 2023: Yardi, a leading provider of real estate software, announced the acquisition of CloudVO, a San Francisco-based online retailer of virtual offices, meeting spaces, and other office services. With this acquisition, Yardi's customers will have access to a greater inventory and better options, especially for their online reservations and purchases of office services, including meeting rooms, private offices, and virtual offices.
  • May 2023: Wezoo, a company that offers solutions for flexible workspaces, announced that it had acquired Affic, an Amsterdam-based startup that aids flexible workspaces in attracting new clients and increasing reservations. With the acquisition of Affic, Wezoo looks forward to growing its visibility, clientele, and revenue.
  • January 2024: Sansiri Public Company Limited, a Thai real estate developer, designated Phuket as a strategic location to launch 16 new projects with a total value of THB 15 billion (USD 416.6 million) over the next five years. Sansiri is also expected to establish a new regional headquarters in Phuket to provide excellent after-sales services, reaffirming its commitment to serving both local and international customers.
  • December 2023: Saudi Arabia and Thailand collaborated to enhance innovation and entrepreneurship, strengthening their bilateral ties. The bilateral trade relationship witnessed an uptick, with Riyadh hosting a four-day trade show in August featuring over 100 manufacturers and entrepreneurs from Thailand showcasing products across various sectors.
  • October 2023: The Instant Group (a leading global platform for flexible workspaces) secured a three-year managed office agreement with Arvato Systems Malaysia. The existing office space of Arvato Systems Malaysia in Kuala Lumpur, a pivotal development center for the Arvato Systems Group, is expected to undergo renovation and expansion. Expected to be finished in 2024, the total office space of Arvato Systems Malaysia will be 26,720 sq. ft, with 15,963 sq. ft undergoing refurbishment and an additional 10,757 sq. ft being custom-fit for the company's needs.
  • January 2023: TAM Group, a GSSA (general sales and service agent) based in Hong Kong, expanded its presence in Southeast Asia by opening three new offices. Responding to the increased demand in the region, TAM Group partnered with Thailand’s GP Group and Vietnam’s TP Cargo Transport Services to establish offices in key strategic areas, including Bangkok, Ho Chi Minh City, and Hanoi.
  • February 2024: Global flex office provider Mindspace made its debut in Düsseldorf, with operations commencing in March 2024. Spanning 4,000 m² in the renowned "design destination" and commercial complex, stilwerk, on Grünstraße, the new Mindspace location boasts 600 workstations, catering to companies and teams of all sizes. Mindspace Grünstraße offers private offices, meeting rooms, lounge areas, and unique amenities like a podcast room and event space. This launch in Düsseldorf marks Mindspace's 12th location in Germany, following the expansion into nine new sites across Europe and the United States in the previous year. Also, the company has plans to unveil another Mindspace location in Berlin's Hausvogteiplatz in Mitte later this year.
  • July 2023: WeWork, the leading global flexible space provider, announced a franchise partnership with Garnier & Garnier, one of Costa Rica’s best-known and most reputable real estate development companies, giving Garnier the exclusive right to grow and operate WeWork’s existing locations in Costa Rica.
  • May 2024: Sotheby's International Realty, under the leadership of George Azar, Chairman and CEO of Dubai and Saudi Arabia Sotheby’s International Realty, unveiled a novel service tailored for ultra-high-net-worth individuals and multifamily offices. This service offers a comprehensive suite encompassing premier real estate luxury assets like fine art, jewelry, and automobiles alongside holistic wealth management, investment, and legal counsel.
  • April 2024: Marriott International Inc. announced a strategic agreement with Palm Hills Developments to launch The Ritz-Carlton Cairo, Palm Hills. This move underscores Marriott's dedication to bolstering its luxury brand presence in Egypt. Set to debut in 2027, The Ritz-Carlton Cairo, Palm Hills, will boast 150 guestrooms, along with 50 serviced apartments ranging from one to three bedrooms. Nestled in West Cairo, the property will embody The Ritz-Carlton's renowned service and sophisticated design. Envisioned amenities encompass five distinct dining venues, a spa, fitness center, pool, children's club, and cutting-edge meeting and event spaces.
  • June 2024: Knight Frank, a prominent global property consultancy, in collaboration with Bayleys, New Zealand's premier full-service real estate firm, successfully acquired McGrath Limited, a key player in the Australian residential real estate market. This acquisition, achieved through a controlling stake purchase via a scheme of arrangement, marks a significant milestone for both entities.
  • June 2024: REA Group disclosed its complete acquisition of Realtair, an Australian proptech firm. In 2020, REA Group made an initial investment in Realtair, securing a 37% stake in the company. This acquisition is set to bolster REA Group's agency services strategy, ensuring customers have access to top-tier digital tools at every stage of their property transactions.
  • June 2024: Real Brokerage Inc., North America's fastest-growing publicly traded real estate brokerage, reported a significant expansion, surpassing 19,000 agents after a robust month of recruitment.
  • April 2024: Compass finalized its acquisition of Latter & Blum, a prominent brokerage firm based in New Orleans. Latter & Blum, known for its strong foothold in Louisiana and other Gulf Coast metros, has now become a part of Compass. This strategic move not only solidifies Compass' presence in the region but also propels it to a significant market share, estimated at around 15% in New Orleans.
  • May 2024: Compass Inc., the leading residential real estate brokerage by sales volume in the United States, acquired Parks Real Estate, Tennessee's top residential real estate firm that boasts over 1,500 agents. Known for its strategic acquisitions and organic growth, Compass's collaboration with Parks Real Estate not only enriches its agent pool but also grants these agents access to Compass's cutting-edge technology and a vast national referral network.
  • April 2024: Compass has finalized its acquisition of Latter & Blum, a prominent brokerage firm based in New Orleans. Latter & Blum, known for its strong foothold in Louisiana and other Gulf Coast metros, has now become a part of Compass. This strategic move not only solidifies Compass' presence in the region but also propels it to a significant market share, estimated at around 15% in New Orleans.

Canada Senior Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)