The trend in population ageing has promoted a rapid growth in retirement village industry. However, a significant capital investment is required for developing retirement villages. Applying the concept of public private partnership (PPP) in retirement village can satisfy the increased market demand and provide affordable living options. This paper investigates the challenges associated with the development of retirement village projects through PPP. A questionnaire survey was conducted with experienced practitioners across the globe. Results show that three out of the seventeen challenges emerged as the most significant challenges in the development of PPP retirement villages. These are: ‘limited understanding of developers on older people’s requirements’, ‘complex revenue and payment model’, and ‘misallocation and incomplete transfer of risks’. Furthermore, the seventeen challenges are regrouped into five major categories: ‘complicated contractual process and arrangement’, ‘poor land acquisition mechanism for projects’, ‘ineffective risk management’, ‘inadequate demand for aged care services’, and ‘lack of experience and knowledge in delivering retirement village PPPs’. The outputs of this study inform both government authorities and retirement village developers of the key hindrances to the successful growth of the global PPP retirement village industry.

人口老龄化趋势推动养老村产业快速发展。然而，发展退休村需要大量的资本投资。在退休村应用公私合作（PPP）的概念可以满足日益增长的市场需求并提供负担得起的生活选择。本文探讨了通过 PPP 开发养老村项目所面临的挑战。对全球经验丰富的从业者进行了问卷调查。结果表明，17 个挑战中有 3 个是 PPP 退休村发展中最重大的挑战。它们是：“开发商对老年人需求的了解有限”、“复杂的收入和支付模式”以及“风险分配不当和不完全转移”。此外，十七大挑战被重新归纳为五类：“复杂的合同流程和安排”、“项目征地机制不健全”、“风险管理不力”、“养老服务需求不足”和“经验不足”。提供退休村 PPPs 的知识。本研究的结果告知政府当局和退休村开发商全球 PPP 退休村产业成功发展的主要障碍。