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Perennial enters eldercare and retirement home space in China with new MOU

PERENNIAL Real Estate Holdings Ltd has entered into a Memorandum of Understanding (MOU) for a joint venture, to operate a premium eldercare and retirement home in Chengdu, China.

It announced on Thursday that the MOU is with Shanghai Summit Property Development and Shanghai RST Chinese Medicine, to establish a 40-40-20 joint venture management company to run the home.

The inclusion of eldercare and retirement home operations in China is a first for Perennial.

The home will be at Chengdu East High Speed Railway Integrated Development Plot D2.