The company’s CEO and executive chairman Pua Seck Guan said the facility can provide wellness and rehabilitation services for elderly patients.
Apart from eldercare, the firm is also looking at medical wellness, sports wellness and other concepts aimed at affluent customers.
Perennial Holdings, which has experience running hospitals and rehabilitation facilities abroad, said zoning regulations and high manpower costs here are major challenges for private sector entrants to the market.
Mr Pua said that in well-regulated countries like Singapore, the zoning and planning for such sites is determined by the government.
He added that difficulty in securing these sites is one of the reasons affecting the growth of the wellness sector, adding he hopes authorities can relax certain regulations.
He said working with regulators like the Singapore Tourism Board (STB) can further develop the wellness industry by attracting wealthy travellers.
“Singapore is very well-positioned to be a wellness centre if we can create and develop this industry properly,” said Mr Pua.
In July 2024, the STB called for proposals for a new wellness centre at the Marina South Coastal site, but the deadline has since been extended twice.
Huttons Asia’s senior director of data analytics Lee Sze Teck said he believes there is a lack of big or renowned companies which have the capability to develop the site, located near Marina Barrage.
The site is intended to house a “world-class” wellness attraction, announced in May 2024 by Singapore’s Minister-in-charge of Trade Relations Grace Fu.
Mr Lee said many countries are facing new uncertainties due to the ongoing tariffs imposed by the United States.
He added that some companies are evaluating their investments and assessing the impact of tariffs on eventual consumer demand.
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Apart from eldercare, the firm is also looking at medical wellness, sports wellness and other concepts aimed at affluent customers.
CHALLENGES IN GROWING WELLNESS INDUSTRY
Perennial Holdings, which has experience running hospitals and rehabilitation facilities abroad, said zoning regulations and high manpower costs here are major challenges for private sector entrants to the market.
Mr Pua said that in well-regulated countries like Singapore, the zoning and planning for such sites is determined by the government.
He added that difficulty in securing these sites is one of the reasons affecting the growth of the wellness sector, adding he hopes authorities can relax certain regulations.
He said working with regulators like the Singapore Tourism Board (STB) can further develop the wellness industry by attracting wealthy travellers.
“Singapore is very well-positioned to be a wellness centre if we can create and develop this industry properly,” said Mr Pua.
In July 2024, the STB called for proposals for a new wellness centre at the Marina South Coastal site, but the deadline has since been extended twice.
Huttons Asia’s senior director of data analytics Lee Sze Teck said he believes there is a lack of big or renowned companies which have the capability to develop the site, located near Marina Barrage.
The site is intended to house a “world-class” wellness attraction, announced in May 2024 by Singapore’s Minister-in-charge of Trade Relations Grace Fu.
Mr Lee said many countries are facing new uncertainties due to the ongoing tariffs imposed by the United States.
He added that some companies are evaluating their investments and assessing the impact of tariffs on eventual consumer demand.
Continue reading...