retirement villages


PHOTO: SUPPLIED Qestral executive chairman John Ryder says the company has a strong base of shareholders including Direct Capital, the country’s leading private equity fund manager.

Christchurch richlister John Ryder has announced the development of a $160 million retirement village in Halswell, south west Christchurch, taking his company’s development programme to $750m.

It will be Qestral Corporation’s third retirement village development in Christchurch along with development of four other villages including two in the North Island.

Ryder was a co-founder 35 years ago with Kevin Hickman of the very successful retirement village operator, Ryman Healthcare.

He left the business and sold his shares in 2002. The NBR Rich List estimates his wealth at about $105m.