Retirement village operator Arvida Group has reported a record profit of $131 million on the back of the rise in value of its properties in a year impacted by Covid-19. READ MORE:* Retirement units likely to rise 'modestly' in price after housing market bonanza* Arvida Group, another retirement village operator, reports strong sales post-lockdown. * Half-year profit down for retirement village operator Arvida, but unit values rising“Underlying profit” which does not include the movement in property values was $51.9m in line with the 2020 financial year. That highlighted a positive trend towards retirement village living, Arvida chief executive Bill McDonald said. Supplied Arvida delivered 114 new care suites and 29 apartments at its Copper Crest retirement village in Tauranga in the March 2021 year.

Source: Stuff May 24, 2021 22:07 UTC