Former Axa Tower by Alibaba Singapore and Perennial Holdings | Singapore Condo Review

Former Axa Tower Developer

Alibaba Singapore

Alibaba has agreed to acquire a 50 percent stake in Singapore’s AXA Tower in a deal that values the landmark office property at S$1.68 billion ($1.2 billion) in one of the few major transactions the city has seen this year.

Perennial Holdings Private Limited

Perennial Holdings Private Limited ("Perennial") is an integrated real estate and healthcare company headquartered in Singapore. As a real estate owner, developer and manager, Perennial focuses strategically on large-scale mixed-use developments and has a presence in China, Singapore, Malaysia, Indonesia, Myanmar and Sri Lanka with a combined portfolio spanning about 80 million square feet in gross floor area.

Perennial is also a healthcare services owner, operator and provider in China with three core business segments, being hospitals and medical centres, integrated healthcare hubs, as well as eldercare and senior housing. Perennial’s integrated eldercare services include eldercare, medical care, rehabilitation care and dementia care, and it has a presence in ten Chinese cities with approximately 10,000 operating beds and a committed pipeline of over 5,000 beds.

In China, Perennial is a dominant commercial developer with large-scale mixed-use integrated developments. Five of Perennial's developments, Chengdu East High Speed Railway ("HSR") Integrated Development, Xi’an North HSR Integrated Development, Perennial Tianjin South HSR International Healthcare and Business City, Perennial Kunming South HSR International Healthcare and Business City and Hangzhou West HSR Integrated Development, are situated adjacent to five of the country’s largest HSR stations, majority of which are regional healthcare and commercial hubs which comprise medical, healthcare and eldercare facilities. Other notable projects in Perennial’s portfolio include Beijing Tongzhou Integrated Development and Shenyang Longemont Integrated Development.

In Singapore, Perennial has invested in and/or manages prime iconic properties, such as Capitol Singapore, CHIJMES, AXA Tower, Chinatown Point, House of Tan Yeok Nee, Perennial Business City and Caldecott Hill site, located in the Civic District, Central Business District, Orchard Road precinct, Jurong Lake District and premium residential areas.