retirement living

SYDNEY-based developer Stockland is continuing to ramp up its potentially lucrative retirement living division, appointing former management consultant David Pitman to the new role of group strategy head.

Mr Pitman said he wants to double the group’s retirement portfolio to about 8,000 units over the next five to six years, which would boost department earnings from the current 7 per cent it contributes to Stockland’s total coffers.