Archive for category: Misc

Perennial Holdings recently introduced its first private assisted living project in Singapore in late August, and one of the first inquiries came from a neighbor of the company’s executive chairman and CEO, Pua Seck Guan.

The neighbor, who is in his 70s, was intrigued by the concept of luxury living accommodations with five-star hospitality services and facilities. He was particularly interested in the inclusion of medical care, rehabilitation, and a wellness center on the premises.

Pua shared that the neighbor is considering selling his home and moving into Perennial Living permanently. This way, he wouldn’t need to hire a full-time helper, chauffeur, and other staff. All his living and healthcare needs could be taken care of by staying in the facility, eliminating the need to maintain a house. Pua also noted that hiring a private live-in nurse is estimated to cost around $8,000 per month.

Perennial Living’s target audience is upper-middle-class and affluent individuals, especially those aged 65 and above, who currently own homes and are considering transitioning to luxurious senior living with enhanced services.

According to Pua, this group values the promise of high-end amenities and quality of life, even if it means living in a smaller space than they are used to. He explained, “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.”

Located at Parry Avenue in the private Rosyth Estate, near Serangoon North, Perennial Living comprises of 200 assisted living suites across 10 five-storey residential blocks and a 100-bed nursing home. As it 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. The suites range from studios, one- and two-bedroom suites, with sizes ranging from 302 to 593 sq ft. The monthly rates start from $8,900 for a studio to $17,000 for a two-bedroom suite under the basic package.

There are various enrichment opportunities available in the vicinity of Northpoint City and Wisteria Mall, such as private enrichment centres and tuition schools. These renowned brands offer a wide range of academic support, music lessons, robotics classes, and language enrichment programs. Some popular examples include Kumon, The Learning Lab, and MindChamps, each catering to children of different ages and learning styles. These options provide parents with the convenience of enhancing their child’s education without having to venture too far from home. Additionally, the newly developed Miltonia Close EC is also a great option for families looking to provide their children with a comprehensive and convenient education.

The basic package includes pre-admission medical assessment and six-monthly reviews, bi-annual health screenings, and preventive health treatments. Suites also come with private lift access, high ceilings, floor-to-ceiling windows, kitchenettes, and senior-friendly features such as remote-controlled curtains, video call tablets, emergency-equipped bathrooms, and 24/7 smart technologies.

Security features such as facial recognition and optional in-unit CCTV for next-of-kin access provide peace of mind for residents. The facility also offers additional services such as treatments with medical specialists, nursing care, home medical visits, integrated rehabilitation, TCM therapies, dental and podiatric care, and preventive wellness treatments. Grooming options are also available.

Residents can 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. The all-day dining restaurant offers 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 a proven track record in China, where the company owns, manages, and operates over 25,000 beds in medical and eldercare facilities. It also operates the award-winning Alzheimer’s Care Village in Xian, China, the world’s sixth dementia care village. With this expertise, Perennial can offer specialized dementia care at Perennial Living in Singapore.

What sets Perennial Living apart is its extensive medical care offerings, made possible by the Perennial Wellness facility within the residence. This includes an integrated approach that combines Western medicine and TCM, rehabilitative therapies, and support for urgent care needs. Perennial has partnerships with the Tianjin Academy of TCM and the Singapore Chinese Physicians’ Association to integrate medical services.

Perennial will also operate a second wellness facility in Singapore, located at 106 Jervois Road. The property occupies a land area of 64,242 sq ft and estimated gross floor area of 7,625 sq ft. It will offer a comprehensive suite of Western and TCM preventive and post-care treatments for seniors, with a focus on integrative rehabilitation.

While Perennial has achieved significant scale in the private eldercare market in China, Pua noted that the Singapore market is still at a nascent stage. The high land costs, operating costs, and manpower costs make it challenging for operators to achieve scale and operational efficiency in Singapore. Pua estimates that an operator would need around 2,000 beds to achieve this. Perennial has invested $260 million in its pilot Perennial Living at Parry Avenue, which includes the $71.988 million paid for the site. However, Pua expects to achieve operational breakeven within three years.