to JV between Perennial and Far East

Perennial Holdings has won the tender for a private assisted-living development site at Parry Avenue, which was launched by URA in collaboration with MOH. Through its indirect wholly-owned subsidiary PRE 20, it won the site by submitting a winning bid of $71.99 million. This is the first private assisted-living development site released by the government.

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A Concept and Price Revenue Tender approach was adopted to ensure the winning project aligned with the governments’ vision for the private assisted living development. All four submitted concept proposals satisfied the initial evaluation criteria. Perennial submitted two concept proposals, and the other tenders were United Medicare Development, and a joint concept tender by Evia Real Estate, Allium Healthcare Holdings, Yuan Ching Development, and YK Realty.

The land parcel is in the Rosyth Estate in proximity to neighbourhood amenities such as Serangoon North Neighbourhood Centre and Heartland Mall. “The award of the assisted living site marks a giant step towards the next stage of maturity for the senior living market in Singapore,” remarked Lam Chern Woon, head of research and consulting at Edmund Tie.

Perennial submitted a second bid for the site, and the tender price was just 0.1% lower than its winning bid. According to Lam, this reflects Perennial’s “earnest intent to gain the first-mover advantage to build a sizeable project in the private senior living market.”

The new housing-cum-care model development that Perennial plans to build comprises a 200-unit assisted living apartment project, a 100-bed nursing home, a wellness clubhouse, and a geriatric care centre. The site will also integrate a new 1.5-ha community park and promote the senior living community’s socialisation with the wider community, preventing isolation.

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Perennial has a successful track record in China, managing more than 60 eldercare and medical facilities across 16 cities, and managing more than 22,000 beds. Its Executive Chairman and CEO, Pua Seck Guan, commented, “We are delighted to have won the tender for Parry Avenue which marks Perennial Holdings’ maiden healthcare project in Singapore. We will create an innovative model of eldercare and community care suited for locals to age-in-place and in the community.”

In addition, the company has partnered with Wilmar International to provide ‘delicious and nutritious meals’ to the residents of the new assisted-living development. This partnership has already been implemented at Perennial’s eldercare facilities in China, and Wilmar’s Central Kitchen and Culinary Institute will cater for the project in Singapore.

Golden Mile Complex sold for $700 mil to Perennial, Sino Land, and Far East Organization joint ventureFar East Organization, Perennial Holdings make $700 mil offer for Golden Mile ComplexHistoric House of Tan Yeok Nee sold for about $85 mil to JV between Perennial and Far East

Perennial Holdings has won the tender for a private assisted-living development site at Parry Avenue with a winning bid of $71.99 million. This is the first private assisted-living development site released by the government, and a Concept and Price Revenue Tender approach was adopted to ensure the winning project aligned with the governments’ vision.

The land parcel is in the Rosyth Estate in proximity to neighbourhood amenities. Had 1.5-ha community park will also be built, and the new housing-cum-care model development will comprise a 200-unit assisted living apartment project, a 100-bed nursing home, a wellness clubhouse, and a geriatric care centre.

Owners of Altura EC can look forward to top-notch features and amenities. Its strategic locationAltura EC in Bukit Batok West Avenue also makes it easily accessible to various parts of Singapore.

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Perennial’s successful track record in China matters, as the company manages over 60 eldercare and medical facilities across 16 cities, managing more than 22,000 beds. Lam Chern Woon, head of research and consulting at Edmund Tie, praised Perennial’s winning concept, as it not only provided for an integrated care model for residents revolving around programmes, socialisation and care services, but also have kept in mind the wider community to prevent the isolation of the senior living community.

Perennial’s Executive Chairman and CEO, Pua Seck Guan, remarked, “We are delighted to have won the tender for Parry Avenue which marks Perennial Holdings’ maiden healthcare project in Singapore. We will create an innovative model of eldercare and community care suited for locals to age-in-place and in the community.”

The company has partnered with Wilmar International to provide ‘delicious and nutritious meals’ to the residents of the new assisted-living development. This partnership has already been implemented at Perennial’s eldercare facilities in China, and Wilmar’s Central Kitchen and Culinary Institute will cater for the project in Singapore.

Golden Mile Complex sold for $700 mil to Perennial, Sino Land, and Far East Organization joint ventureFar East Organization, Perennial Holdings make $700 mil offer for Golden Mile ComplexHistoric House of Tan Yeok Nee sold for about $85 mil to JV between Perennial and Far East

Perennial Holdings, through its indirect wholly-owned subsidiary PRE 20, has won the tender for a private assisted-living development site at Parry Avenue for $71.99 million. This is the first private assisted-living development site released by the government, and the land parcel is in the Rosyth Estate in proximity to neighbourhood amenities.

Head of research and consulting at Edmund Tie, Lam Chern Woon, praised Perennial’s winning concept for providing an integrated care model for residents revolving around programmes, socialisation and care services, and for ensuring touch points with the wider community to prevent the isolation of the senior living community.

The new housing-cum-care model development that Perennial plans to build comprises a 200-unit assisted living apartment project, a 100-bed nursing home, a wellness clubhouse, and a geriatric care centre. The site will also integrate a new 1.5-ha community park.

Perennial’s Executive Chairman and CEO, Pua Seck Guan, commented, “We are delighted to have won the tender for Parry Avenue which marks Perennial Holdings’ maiden healthcare project in Singapore. We will create an innovative model of eldercare and community care suited for locals to age-in-place and in the community.”

In addition, the company has partnered with Wilmar International to provide ‘delicious and nutritious meals’ for the residents of the new assisted-living development. This partnership has already been implemented at Perennial’s eldercare facilities in China, and Wilmar’s Central Kitchen and Culinary Institute will cater for the project in Singapore.

RELATED NEWS
Golden Mile Complex sold for $700 mil to Perennial, Sino Land, and Far East Organization joint venture
Far East Organization, Perennial Holdings make $700 mil offer for Golden Mile Complex
Historic House of Tan Yeok Nee sold for about $85 mil to JV between Perennial and Far East

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