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Business Strategy

Perennial Real Estate Holdings Limited ("Perennial") is an integrated real estate and healthcare company. As a real estate owner, developer and manager, Perennial has a well-diversified portfolio of large-scale integrated developments which are well-positioned for growth, and complemented by operational properties with a steady income stream. Perennial is also a healthcare services owner and operator with a growing portfolio of holistic medical and healthcare-related services, which delivers an additional income stream.

Perennial aims to maximise shareholders' returns by leveraging on its unique integrated real estate and healthcare business platform, strong major sponsors and adopting a defined set of strategies in its three main geographies of operations, which it will actively adapt as each of the markets matures and develops over time.

Integrated Real Estate And Healthcare Business Platform

Perennial has an established and fully integrated real estate and healthcare business platform which is well-supported by an internalised management team with real estate management, capital management and healthcare management capabilities.

The integrated platform enhances Perennial's ability to gain access to strategically located prime land plots which are designated for mixed-use developments or healthcare/ medical usage. In addition, it facilitates the extraction of value across the entire real estate value chain for different asset classes, ranging from sourcing, designing and developing projects, to managing them upon completion. Further, the integrated platform seamlessly incorporates Perennial's healthcare business' physical and operational requirements, resulting in the maximisation of the value of both the real estate portfolio and the healthcare and medical services business.


CHINA

Acquire and develop large-scale mixed-use development projects in first-tier and second-tier provincial capitals and major cities

Perennial targets large-scale mixed-use greenfield development projects encompassing different asset classes strategically positioned in high growth cities in China, and in close proximity to transportation hubs, including High Speed Railway stations.

These large-scale iconic mixed-use projects allow Perennial to distinguish itself from its competitors, provide complementary advantages between different asset classes and enhance Perennial's resilience against any future policies for specific asset classes.

Adopt strata-sale / long-term hold strategy to better manage fund flows, while benefiting from operating long-term assets

Perennial will adopt an active strata sales strategy in relation to projects located in China, whose proposed designs are such that up to 50% of the gross floor area of such developments comprise asset classes which allow for strata sub-division of the developments for sale (such as residential and strata retail units) for capital recycling purposes, with the remainder to be held for the long-term.

This will allow Perennial to:

  • tap on an additional source of funds, recycle capital and reduce its external financing requirements; and
  • retain an interest in long-term assets, hence benefiting from any uplift in asset valuations which will enhance its net asset value, as well as enjoy future income from these operational assets.

SINGAPORE

Acquire assets or land which can be repositioned and redeveloped to extract embedded value

Perennial intends to acquire properties or land plots which can be repositioned or redeveloped to create value. In addition, Perennial will selectively acquire completed operational assets which will augment the stream of recurring income and provide further income stability.

OTHER MARKETS

Achieve first-mover advantage in high-growth and untapped emerging markets

Perennial will selectively pursue real estate opportunities in other markets with a focus on emerging markets by:

  • leveraging on its Sponsors' extensive network of relationships and experience in the emerging markets;
  • focusing on acquiring urban renewal or rejuvenation projects which require international expertise; and
  • optimising its capital structure through a combination of onshore and offshore funding.

Introduce healthcare real estate as an asset class in large-scale integrated developments

Perennial will introduce healthcare real estate within its large-scale integrated developments to create synergy between the various components so as to enhance the value of the entire integrated development.

Form strategic partnerships with established local and foreign healthcare or medical-related operators to scale the business

Perennial will partner with reputable local and foreign healthcare or medical-related operators with extensive local and international networks and strong operating track records with the aim to provide a holistic range of healthcare and medical services.


PRINCIPLES FOR REALISING PERENNIAL'S STRATEGIES

Perennial continually explores new investment opportunities in China, Singapore and other markets and implements its acquisition strategy for both its real estate and healthcare businesses by adhering to the following principles:

Strategic Location
Acquire, own and develop mixed-use real estate assets and healthcare/medical assets in high growth cities (including first-tier, second-tier provincial capitals and major cities) which are in close proximity to transportation hubs.

Disciplined Acquisitions and Investments
Assess investment opportunities based on a disciplined process to ensure development projects, asset acquisitions and business acquisitions generate attractive returns by leveraging on Perennial's integrated real estate and healthcare business platform.

Proactive Value Creation
Identity embedded value creation opportunities and extract value through the execution of asset enhancement, redevelopment or repositioning works.

Active Asset Management
Actively manage the planning and design phases of development real estate and healthcare/medical projects and proactively manage the completed and operating assets to maximise income and capital values.

Optimise Cashflow Management
Focus on large-scale integrated developments with different asset classes, with the intention to trade the strata components of the developments to generate cash flow and hold the non-strata portions as investment properties for yield, so as to optimise capital efficiency.

Prudent Capital Management
Prudent capital management to optimise shareholders' returns over time.

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