Nam Long and Thrive Partner to Revolutionize Senior Living in Vietnam
Nam Long Commercial Property and Thrive have formed a strategic partnership to develop a comprehensive senior living ecosystem in Vietnam, beginning with a 400-unit project in the Waterpoint township to address the nation's rapidly growing demand for professional elderly care. (Photo courtesy: Name Long Group)
In a landmark move for Vietnam’s real estate and healthcare sectors, Nam Long Commercial Property has officially signed a strategic partnership with the international operator Thrive to develop a comprehensive senior living ecosystem. The agreement, announced on April 23, 2026, signals a major expansion for Nam Long Group into specialized housing and professional care services, moving beyond traditional residential development to address the evolving needs of Vietnam’s aging population.
Addressing an Urgent Demographic Shift
The partnership arrives at a critical juncture for Vietnam. According to data from the General Statistics Office, the nation’s elderly population (aged 60 and above) stood at approximately 14.2 million in 2024. This demographic is projected to surge to 20.9 million by 2034, creating an "urgent need" for specialized infrastructure.
Currently, Vietnam’s senior care landscape is significantly underserved. There are only 218 elderly care facilities nationwide, which together serve roughly 15,000 people. This creates a widening gap between the limited supply and the rapidly increasing demand for high-quality care. Jeremy Ragsdale, Founder and Group CEO of Thrive Senior Living LLC, emphasized that the partnership aims to fill this void by providing modern, community-based living environments.
International Expertise Meets Local Development
Thrive brings a wealth of international experience to the venture, with 25 years of operation and a portfolio of 59 senior living communities across the United States, United Kingdom, and South Korea. As a strategic partner, Thrive will contribute its global expertise in specialized design, professional operations, and advanced care models.
The collaboration focuses on creating integrated projects that combine accommodation, healthcare, and community amenities. Unlike traditional models that may focus solely on residential housing, this partnership prioritizes a holistic ecosystem where professional operations are embedded into the lifestyle of the residents.
The Flagship Project: Waterpoint Township
The partnership’s inaugural project will be located within the Waterpoint integrated township in Ben Luc, Tay Ninh. Designed to harmonize with the township’s natural surroundings, the development will feature low construction density and will be integrated with existing green spaces, park systems, and waterways.
The scale of the project is ambitious, with plans for approximately 400 units and 600 beds. The service model is designed to be flexible, offering multiple tiers of care to support seniors at different stages of life, including:
Adult day care and in-home care services.
Long-term residency options.
Specialized medical support and health management.
To ensure peace of mind for families, the facility will utilize 24/7 health monitoring and provide digital updates on residents' well-being. Beyond medical needs, the project will emphasize community-based activities to foster social connection among residents.
A New Vision for Vietnamese Real Estate
For Nam Long Commercial Property, this venture is a core component of a broader strategy to diversify its portfolio and enhance the long-term value of its integrated townships. Nguyen Hoang Vinh Vien, Managing Director of Nam Long Commercial Property, stated that the partnership reflects a shared commitment to the future of healthcare and real estate in Vietnam.
As family structures change and expectations for quality of life rise, the Nam Long and Thrive partnership represents a proactive step toward building a sustainable healthcare infrastructure. By blending international standards with local township development, the two companies aim to set a new benchmark for senior living in the region.
Article source: Nam Long Group and VNExpress International
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