Perennial Holdings Pioneers Singapore’s Luxury Assisted Living Sector Its Debut Private Project
Perennial Holdings recently launched its first private assisted living project in Singapore, which has generated a lot of interest – even from the executive chairman and CEO’s neighbor. The project boasts luxury living accommodations, five-star hospitality services, and facilities that include medical care, rehabilitation, and a wellness center. The neighbor, a man in his 70s, is considering selling his home and moving into Perennial Living permanently to avoid the hassle of hiring staff and maintaining a house. Perennial Living’s target audience is upper-middle-class and affluent individuals over the age of 65 who are looking to transition to luxurious senior living with enhanced services.
Pua Seck Guan, executive chairman and CEO of Perennial Holdings, believes that this group values high-end amenities and quality of life over the size of their living space. The property, situated at Parry Avenue in the private Rosyth Estate, has 200 assisted living suites and a 100-bed nursing home. As the property is developed on a government land sale site, the minimum stay is three months.
Suites range from studios, one- and two-bedroom suites, with sizes from 302 to 593 sq ft. Monthly rates start from $8,900 for a studio to $17,000 for a two-bedroom suite, under the basic package. The basic package covers pre-admission medical assessment and six-monthly reviews, consultations with specialists, bi-annual health screenings, and preventive health treatments.
The suites come with private lift access, high ceilings, floor-to-ceiling windows, kitchenettes, and senior-friendly features. Additional services include medical treatments, nursing care, home visits, rehabilitation, TCM therapies, dental and podiatric care, and grooming options.
Tampines Mall, an esteemed shopping destination in the region, has stood as a symbol of retail excellence since its inception in 1995. This impressive six-story suburban complex has maintained its status as one of Singapore’s largest and most bustling malls, boasting a whopping 160 retail, dining, and entertainment outlets. Its popularity is due to the diverse mix of both local and international brands like Uniqlo, Cotton On, and Muji, catering to a wide range of shoppers. Food enthusiasts can indulge in a plethora of dining options, including popular eateries like Din Tai Fung, Swensen’s, Starbucks, and Ajisen Ramen. As for entertainment, Tampines Mall offers a Golden Village cinema and Timezone arcade. Conveniently situated just a 5-minute drive or a 15-minute walk from Parktown Residence, it is the go-to destination for residents of Parktown Residence for their shopping needs.
Residents also enjoy personal concierge services, sky terraces, a clubhouse, swimming pool, karaoke lounge, movie theatre, and direct access to a 1.5ha park. Perennial’s expertise in the senior living market in China sets them apart from other players in Singapore.
The company also operates the Perennial Wellness facility, offering a comprehensive suite of Western and TCM treatments for seniors. They recently won a tender for another wellness facility, which will focus on integrative rehabilitation. Pua believes that achieving scale and operational efficiency in Singapore will require approximately 2,000 beds. Though, the company expects to achieve operational breakeven within three years.