Singapore-based Perennial Holdings is to invest RBM128m (€18.5m) to develop China’s first one-stop healthcare development offering care for seniors with dementia in China.

Perennial said the project would be the “largest” dementia care facility in the country, which will include four components – a dementia home, a nursing care hospital, a rehabilitation hospital, and an international eldercare research institute.

Perennial will convert its existing properties on the leased site to house the four arms of the business under the known of Perennial Alzheimer’s Care Village Xian will house a total of close to 700 beds.

Khoo Chow Huat, Perennial’s healthcare CEO, said: “Eldercare and senior housing is one of Perennial’s core healthcare business segments in China.”

Khoo said the company was focused on “the seamless integration of eldercare and medical care as well as western and traditional Chinese medicine” to better meet the needs of seniors.

With the latest project, Perennial will have close to 50 healthcare and eldercare facilities with approximately 11,000 operating beds and a committed pipeline of over 4,000 beds across more than 10 cities in China.

To read the latest edition of the latest IPE Real Assets magazine click here.