First Bank Partners With Lixing Asset to Expand Senior Care Trust Services

As Taiwan's population ages, older people often face overlapping challenges involving idle real estate, rental management and asset security. First Bank's partnership with Lixing Asset combines the asset-control functions of real estate trusts with master leasing and property management services. The arrangement is intended to help older people and property owners seeking to rent out their homes put real estate to productive use while reducing the risks of asset misappropriation, fraud and inheritance-related management problems.

First Bank and Lixing Asset signed a letter of intent on March 25 to develop a one-stop service spanning real estate trusts, tenant sourcing and ongoing property management. They also plan to extend the model to senior care and inheritance trusts. The companies have not disclosed the value of the partnership, the number of properties to be managed or a formal launch date. Its impact will depend on the eventual scale of operations and progress in integrating the services.