Parry Avenue attracts healthcare providers amidst demand for private elderly care
A total of four bids were received with one tenderer putting in two bids.
With a total of three bidders, the Parry Avenue site lured healthcare providers and other tie-ups between developer and healthcare provider due to increasing demand for elderly support.
According to Huttons, Parry Avenue opens up more options for seniors who are independent and have no preference for nursing homes but still require some form of care.
Another property expert, Edmund Tie, noted that some of the bidders are Allium Healthcare Holdings, which operates residential aged care accommodation development. Next bidder was United Medical Development, which offers private nursing homes.
This tender also showed that the ageing population grows demand for private medical support, said Edmund Tie.
“Whilst ageing-in-place is still preferred by many, the costs can be prohibitive as medical needs rise with age. Breaking down societal stigmas and refining our housing typology would go a long way to allow more to age gracefully with adequate community and medical care support,” read the statement.
Over 20% of the development can be allocated to health and medical care use, including building of 100 nursing beds. Four bids were made, with one bidder submitting two bids, said Edmund and Tie.