MARKETS & INVESTING | Staff Reporter, Singapore

GIC eyes stake in rival of its Australian retirement village firm

Gateway Lifestyle Group is Australia’s largest operator of land lease communities.

Deal Street Asia reports that GIC is thinking of bidding for Australian residential community Gateway Lifestyle Group, which is a rival of its own retirement village National Lifestyle Villages in Australia.

GIC is known to have expressed interest in investing in the Australian retirement residential sector in the past, with Gateway believed to be one of its investment targets.

Gateway is said to be the largest operator of land lease communities in Australia and envisages being the creator and operator of Australia’s largest portfolio of residential land lease communities that inspire a better lifestyle for independent active over 50s.

The company was listed on the ASX in 2015 and has since expanded ACT and South Australia.

It is reported that US-based manufactured home company Hometown Corporation is the leading bidder for Gateway’s shares after it recently raised its bid by 12% to A$2.35 (€1.5) for each share.

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