The Business Times
business-time-50

From China to Singapore: Perennial banks on eldercare for growth

Rates at its new assisted-living facility are high, but the group’s CEO hopes to refine the model and lower them over time

Summarise
google-preferred-sourceAdd BT as a preferred source
Ry-Anne Lim

Ry-Anne Lim

Published Thu, Aug 28, 2025 · 12:00 PM
    • Perennial Holdings CEO Pua Seck Guan says: "Singapore is a very difficult place to make money. Our main business is outside (the country), but we have done so much, learned so much. What we hope to do is bring the skill set and create (a similar model here).”
    • Perennial Holdings on Thursday launched its first private assisted-living development in Singapore at Parry Avenue.
    • Perennial Holdings CEO Pua Seck Guan says: "Singapore is a very difficult place to make money. Our main business is outside (the country), but we have done so much, learned so much. What we hope to do is bring the skill set and create (a similar model here).” PHOTO: ST
    • Perennial Holdings on Thursday launched its first private assisted-living development in Singapore at Parry Avenue. ILLUSTRATION: PERENNIAL

    [SINGAPORE] Perennial Holdings on Thursday (Aug 28) made its move into Singapore’s eldercare sector with the opening of Perennial Living, a pilot project in assisted living which chief executive officer Pua Seck Guan hopes will pave the way for a new growth market. 

    The Parry Avenue project will comprise 200 assisted-living apartments, a nursing home with 100 beds in either private one-bed or two-bed suites, and a rehabilitation, medical and wellness centre.

    Pua told The Business Times that the group hopes to achieve an occupancy rate of 70 to 80 per cent in the project’s first year. 

    Perennial HoldingsHealthcareHealthcare costsChinaAsia-PacificSingaporeReal estate

    TRENDING NOW

    Why is Apac poised to become such a significant market for aviation?

    Asia-Pacific aviation: is up really the only way?

    Russian President Vladimir Putin (right) meeting Myanmar President Min Aung Hlaing (left) at the Grand Kremlin Palace in Moscow on Aug 18.

    Russia’s ‘pivot to Asia’ takes a turn as it prioritises ties with isolated regimes over bigger economies

    Professional oversight can help investors avoid emotion-led decisions, shares Chew Mun Yew, managing director and head of UOB Private Bank.

    Why disciplined stewardship matters when managing wealth in uncertain markets

    The programme aims to equip accountancy and corporate finance workers with practical skills to use AI effectively and responsibly.

    More than 15,000 sign up for national accounting body’s AI programme in two months

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More