Perennial Holdings Pioneers Singapore’s Luxury Assisted Living Sector Its Debut Private Project
Perennial Holdings recently debuted its first private assisted living project in Singapore in August. Shortly after, it received an inquiry from one of its first interested buyers, a 70-year old neighbor of the company’s executive chairman and CEO, Pua Seck Guan. The man was intrigued by the prospects of luxurious living accommodations with five-star hospitality services, medical care, rehabilitation, and a wellness center all within the premises.
Pua stated that the man is considering selling his home and moving into Perennial Living permanently. This way, he can avoid the hassle of hiring a full-time helper, chauffeur, and other staff. By checking into Perennial Living, all of his living and healthcare needs will be taken care of, and he will not have to worry about maintaining a house. If he were to hire a private live-in nurse, the estimated cost would be around $8,000 per month.
According to Pua, this neighbor is a prime example of Perennial Living’s target audience – upper-middle-class and affluent individuals, particularly those aged 65 and above, who own homes and are looking to transition to luxurious senior living with enhanced services.
Pua believes that this group places great value on the promise of high-end amenities and quality of life, even if the living space is smaller than what they are used to. He explains, “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 within the private Rosyth Estate, near Serangoon North, Perennial Living has 200 assisted living suites spread across 10 five-storey residential blocks and a 100-bed nursing home. 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. The suites range from studios, one- and two-bedroom units, with sizes ranging from 302 to 593 sq ft. The monthly rates start at $8,900 for a studio and go up to $17,000 for a two-bedroom suite under the basic package.
The basic package includes a pre-admission medical assessment and six-monthly reviews, consultations with Western or TCM specialists twice a month, bi-annual health screenings, and preventive health treatments such as strength training, mild hyperbaric oxygen therapy, and health monitoring devices.
Each suite comes with private lift access, high ceilings, floor-to-ceiling windows, kitchenettes, and senior-friendly features like remote-controlled curtains, video call tablets, emergency-equipped bathrooms, and 24/7 smart technologies such as emergency response, fall detection, and motion-sensor lighting.
Safety is a top priority at Perennial Living, and the property is equipped with facial recognition security, optional in-unit CCTV for next-of-kin access, and other safety features to ensure peace of mind for residents.
Aside from the medical care and amenities, residents also have access to 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 at Perennial Living 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, having owned, managed, and operated over 25,000 beds in medical and eldercare facilities over the past decade. Of these, 16,000 are currently operational, with over 9,000 beds in the pipeline across 14 cities in China. It also operates the world’s sixth dementia care village, Perennial Alzheimer’s Care Village in Xian, China. This expertise allows Perennial to offer specialized dementia care at Perennial Living in Singapore.
According to Pua, what sets Perennial Living apart is the extensive range of medical care services provided by the Perennial Wellness facility located within the residence. This includes an integrated approach that combines Western medicine and TCM, rehabilitative therapies, and urgent care support. Through partnerships with the Tianjin Academy of TCM and the Singapore Chinese Physicians’ Association, Perennial is able to integrate medical services seamlessly.
While Perennial has achieved success and scale in China, Pua notes that the Singapore private eldercare market is still in its early stages and is hindered by high land, operating, and manpower costs. In order to achieve operational efficiency, Pua estimates that an operator would need to have around 2,000 beds. Perennial has invested $260 million in its pilot project at Parry Avenue, including the $71.988 million paid for the site. However, Pua expects to achieve operational breakeven within three years.
The ongoing construction of the North-South Corridor (NSC) is set to revolutionize the daily commute for residents of Sembawang. With its completion, this major expressway will offer a direct link from the northern region to the city centre, significantly cutting down travel time for commuters. This will greatly benefit the residents of Sembawang, who will have easy access to the central business district and other key areas of Singapore. The convenience and efficiency of the NSC will undoubtedly enhance the overall living experience for those residing in Sembawang Road EC and surrounding areas.