Perennial opens S$260 million assisted-living facility with monthly rates from S$8,900 to S$17,000
Parry Avenue pilot project, targeted at luxury market, houses 200 fully furnished apartments, a nursing home, and a rehabilitation, medical and wellness centre
[SINGAPORE] The senior living market in Singapore stepped up a notch this week, with the launch of healthcare and real estate group Perennial Holdings’ assisted-living pilot project at monthly rates starting from S$8,900.
Perennial Living, which is Singapore’s first private assisted-living development, blends “luxury living and five-star hospitality services with comprehensive care”, the company said.
Perennial has invested S$260 million in land and construction costs for the project, which has 200 fully furnished apartments, a nursing home with 100 beds, as well as a rehabilitation and wellness centre. Amenities include a swimming pool and karaoke lounge-cum-movie theatre.
Rates for the apartments start at S$8,900 a month for a studio and go up to S$17,000 a month. Perennial is offering an early-bird discount of between 10 and 20 per cent off the basic occupation package for the first 40 suites booked.
The assisted-living project has 70 studio units, 81 one-bedders, and 49 two-bedroom apartments, ranging from 302 to 593 square feet.
Located in Parry Avenue in Upper Serangoon on a 60-year leasehold site acquired at a government tender in 2023, the pilot project has a land area of 12,912 sq metres with a gross floor area of 18,077 sq m. Perennial acquired the site for S$71.9 million, beating three other bids.
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One to two of the development’s 10 blocks will be dedicated to residents living with mild to severe dementia. These blocks will be in a secure compound with specialised dementia care.
The entire facility, designed for seniors aged 65 and up across a spectrum of care needs, also sits next to a 1.5-hectare public therapeutic park being developed by Perennial.
At the opening ceremony on Thursday (Aug 28), Perennial’s chief executive officer Pua Seck Guan said: “With over 25,000 beds across 15 cities in China, we are one of the largest private eldercare operators in China today.”
He added: “Backed by this expertise of having an established and well-integrated eldercare platform, we are bringing this success back home to Singapore with the aim of redefining and elevating the standard of private eldercare.”
A basic package at Perennial Living covers accommodation, regular cleaning, housekeeping and linen service, core meals at an all-day dining restaurant, as well as access to amenities and activities ranging from wine-tasting and painting to yoga and tai chi. Food at the restaurant will be prepared by chefs and dieticians from Wilmar International, which holds an indirect 16.9 per cent stake in the Perennial group.
Additional services are available at an extra cost, such as a la carte menu options, concierge services, medical or rehabilitation treatments, and even grooming services like manicures and pedicures.
Some units can be shared with a second occupant for an additional S$4,000 plus a month, or house a live-in caregiver for around S$3,000 a month – a lower surcharge since they will not receive the full package of meals and amenities like other residents.
Pricing details were not available for the nursing home, where there are 69 one-bedders and 15 two-bed suites of 215 to 376 sq ft. It is expected to open in the second quarter of next year. The rest of the development is targeted to be completed by late 2025, with move-ins starting in the first quarter of 2026.
Apartments will be leased for up to a year initially, with a three-month minimum.
A comprehensive health hub
The facility also includes a healthcare hub called Perennial Wellness, with a medical diagnostic centre staffed by specialists, an urgent-care centre, and X-ray facilities. It has tie-ups with external radiology partners if CT scans or MRIs are required.
The group has partnered China’s Tianjin Academy of TCM – one of six state-approved national traditional chinese medicine research institutes – and Singapore Chung Hwa Medical Institution to run TCM centres at the Parry Avenue facility and the group’s upcoming wellness centre in Jervois Road.
Services at Perennial Wellness are open to the public on an outpatient basis.
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