SINGAPORE – Singapore’s pilot private assisted-living project with senior-friendly features in Parry Avenue has been awarded to a subsidiary of Perennial Holdings, which submitted two concept proposals and beat two other developers with the highest bid of $71.988 million.

The award of the Parry Avenue site marks “a giant step towards the next stage of maturity for the senior living market”, said Mr Lam Chern Woon, head of research and consulting at property consulting firm Edmund Tie.

“All four concept bids for the site were deemed acceptable by the authorities, which suggests that there is no lack of expertise and creativity by market players to grow this niche segment,” he added.

Spanning 195,000 sq ft, the project will comprise 200 assisted-living apartments, a 100-bed nursing home, a wellness clubhouse, a geriatric care centre and a new 1.5ha community park, Perennial said in a release on Tuesday night.

The private project – a new housing-cum-care model that the Ministry of Health and the Urban Redevelopment Authority are co-creating with industry players – comes more than a year after public assisted-living developments, or community care apartments, which integrate senior-friendly housing with care services, were introduced.

It represents an option for independent seniors who do not want to live in a nursing home but still require some form of assistance.

Mr Pua Seck Guan, executive chairman and chief executive officer of Perennial Holdings, said: “This unique opportunity will allow us to leverage our track record as one of the largest private integrated eldercare operators in China to create a model of eldercare and community care suited for locals to age-in-place.”

Perennial has more than 60 eldercare and medical facilities in 16 cities in China, with 12,000 beds in operation currently.

The agencies adopted a concept and price revenue tender, where tenderers were required to submit their concept proposals and tender prices separately.

The Perennial unit, Pre 20, which submitted bids at $71.988 million and $71.938 million for two different concept proposals, trumped a consortium that includes Allium Healthcare Holdings, which operates a residential aged-care accommodation development, and United Medicare Development, an operator of private nursing homes.

The winning bid was about 10.4 per cent higher than United Medicare’s bid of $65.188 million, while a consortium consisting of Allium Healthcare, Evia Real Estate, Yuan Ching Development and YK Realty submitted a bid of $48.889 million.

Perennial’s second bid, which was 0.7 per cent lower than its top bid, “reflects its intent to gain first-mover advantage to build a sizeable project in the private senior living market”, Mr Lam said.

He noted that this private project, as well as robust take-up for the first two public assisted-living projects – community care apartments in Harmony Village @ Bukit Batok and Queensway Canopy – will help generate more awareness and interest among market players, care providers and seniors.

Huttons Asia’s senior director of research, Mr Lee Sze Teck, said the private assisted-living concept may be extended to more sites.

Residents of Perennial’s maiden healthcare project here will have a choice of one- or two-bedroom units ranging between 366 sq ft and 666 sq ft, with private lifts and access to balconies, sky terraces and green areas.

Perennial said its development will cater to healthy residents, those with mild dementia, and seniors requiring assisted daily living and nursing needs. There will also be a dedicated dementia-friendly zone where residents with dementia can move around safely.

The geriatric care centre will help manage common chronic diseases such as high blood pressure and diabetes, and pain and stroke management. There is also a hydrotherapy pool.

Perennial will also partner its sponsor, Wilmar International, to provide food catering services. The meals, which cater to different healthcare needs, will be prepared by Wilmar’s central kitchen and culinary institute.

The developer said its proprietary WeCare App will connect all service offerings for residents and help them stay connected with their families. The app enables remote monitoring of vital signs and safety, care and medical services bookings, as well as meal ordering.

According to the authorities, Pre 20’s concept proposal was “comprehensive and well conceived in terms of its care model, programmes and services, as well as design features”.

The proposal includes a range of care and social services or programmes that can be tailored to residents’ needs and preferences. It also features an integrated health and social care hub that creates opportunities for social bonding.

In addition, it offers a variety of communal areas with green sanctuaries, sky terraces and a park to encourage interaction and bonding between residents and the community, the agencies said.

Mr Lam noted that the winning concept aims to “prevent the isolation of the senior living community”.

Located within Rosyth estate, the Parry Avenue site will be adjacent to a new park to be developed by Perennial, as well as near dining and shopping amenities such as Serangoon North Neighbourhood Centre and Heartland Mall.