When Perennial Holdings unveiled its first private assisted living project in Singapore in late August, one of the first enquiries came from a neighbour of executive chairman and CEO Pua Seck Guan.
His neighbour, who is in his 70s, was intrigued by the prospects of luxury living accommodations with five-star hospitality services and facilities, including medical care, rehabilitation, and a wellness centre within the premises.
According to Pua, he is contemplating selling his home and moving into Perennial Living permanently. This way, he does not need to engage a full-time helper, a chauffeur, and other staff, relates Pua. By checking in, all his living and healthcare needs are taken care of, and he would not need to maintain a house. If he were to hire a private live-in nurse, the estimated cost is about $8,000 per month, notes Pua.
Pua’s neighbour exemplifies Perennial Living’s target audience — upper-middle-class and affluent individuals, particularly those aged 65 and above, who own homes and are considering transitioning to luxurious senior living with enhanced services.
Pua believes this group values the promise of high-end amenities and quality of life, even if the living space is smaller than what they are accustomed to. “While we may not be able to offer the same housing size they are used to, we can provide a level of service and quality of life that is better than what they could enjoy in their own home,” he says.
Situated at Parry Avenue within the private Rosyth Estate, near Serangoon North, Perennial Living has 200 assisted living suites across 10 five-storey residential blocks and a 100-bed nursing home.
The entrance of Perennial Living (artist’s impression). (Picture: Perennial Holdings)
As the property is developed on a government land sale (GLS) site with a 60-year lease and is zoned for residential use, 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, twice-monthly consultations with Western or TCM specialists, bi-annual health screenings, and preventive health treatments, including strength training, mild hyperbaric oxygen therapy, and health monitoring devices.
Suites come with private lift access, high ceilings, floor-to-ceiling windows, kitchenettes, and senior-friendly features, including remote-controlled curtains, video call tablets, emergency-equipped bathrooms, and 24/7 smart technologies such as emergency response, fall detection, and motion-sensor lighting.
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Facial recognition security, optional in-unit CCTV for next-of-kin access, and other safety features enhance peace of mind for residents.
Additional services include treatments with partner medical specialists, nursing care, home medical visits, integrated rehabilitation, a variety of TCM therapies, dental and podiatric care, and preventive wellness treatments. Grooming options are also available.
There will be 10 low-rise assisted living blocks connected by sky terraces and link bridges (artist’s impression). (Picture: Perennial Holdings)
Residents enjoy personal concierge services, sky terraces, a clubhouse, swimming pool, a karaoke lounge-cum-movie theatre, a multipurpose room for games, and direct access to a 1.5ha park.
Within the all-day dining restaurant, residents get to enjoy a variety of nutritious meals crafted by award-winning chefs and in-house dieticians from Wilmar International’s central kitchen in consultation with its Culinary Institute in China.
Perennial has an edge over other players in Singapore, given its track record in China over the past decade, where the company now owns, manages, and operates over 25,000 beds in medical and eldercare facilities. Of these, 16,000 are operational, with over 9,000 beds in the pipeline across 14 cities in China.
Perennial also operates its eponymous Alzheimer’s Care Village in Xian, China, the world’s sixth dementia care village. Given the expertise, it is able to offer specialised dementia care at Perennial Living in Singapore.
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The assisted living development will feature a swimming pool and hydrotherapy pool (artist’s impression). (Picture: Perennial Holdings)
What sets Perennial Living apart is the extent of medical care made possible by the Perennial Wellness facility located within the residence. This includes an integrated approach that combines Western medicine and TCM, rehabilitative therapies, and support for urgent care needs. Perennial is able to integrate medical services through its partnerships with the Tianjin Academy of TCM and the Singapore Chinese Physicians’ Association.
Perennial will also operate a second wellness facility in Singapore. In February, the company won the Singapore Land Authority (SLA) tender for a two-storey colonial house at 106 Jervois Road. The SLA price and quality tender closed last October.
The property at Jervois Road occupies a land area of 64,242 sq ft with an estimated gross floor area of 7,625 sq ft. Perennial will operate the property as Perennial Wellness, offering a comprehensive suite of Western and TCM preventive and post-care treatments for seniors, with a focus on integrative rehabilitation.
While Perennial has achieved a certain level of scale in China as one of the largest private eldercare operators there, Pua notes that the Singapore private eldercare market is still at a nascent stage. It is also hampered by high land costs, operating costs, and manpower costs.
To achieve scale and operational efficiency in Singapore, Pua estimates that an operator would need to have approximately 2,000 beds. Perennial has invested $260 million in its pilot Perennial Living at Parry Avenue, which includes the $71.988 million paid for the site. However, he expects to achieve operational breakeven within three years.