PHB, UEM, MCS To Develop Senior Living Residences

Last update: 09/03/2018KUALA LUMPUR, March 9 ( Bernama) -- Pelaburan Hartanah Bud (PHB), UEM Group Bhd (UEM Group) and Japan's Medical Care Service Inc. (MCS) will jointly collaborate to provide care services for the senior citizens community via a new development known as the Rei Seraya Residences.

To be located on Jalan Ampang, Kuala Lumpur, the project would be constructed on a 0.60 hectare site owned by PHB, said Group Managing Director/ Chief Executive Officer Datuk Kamalul Arifin Othman.

He said Rei Seraya would be designed by an Australian architect who specialised in senior living lifestyles and would be operated by MCS upon its completion.

"The project is fundamentally a rental development and residents will not be permitted to purchase the units," he told reporters after unveiling the Rei Seraya property showcase gallery here today.

Kamalul said Rei Seraya offered two types of residence, namely, 'assisted living' and 'independent living' units, with built-up areas of 300 sq ft and 900 sq ft, respectively.

"We are now conducting a market feasibility study to gather feedback from the public on necessary facilities before proceeding and finalising the numbers in terms of gross development value and average rental per square ft.

"We are expecting to complete the findings by year-end," said Kamalul Arifin, adding that the project was slated for completion by end-2021 and operate by 2022.

Meanwhile, UEM Group Managing Director and Chief Executive Officer Datuk Izzaddin Idris said the gallery would be a senior citizen friendly building, showing off care services offered by one of Japan's leading senior living care provider.

"The project is very different and we are very positive about it, given the strong demand.

"We have conducted market research and the result is convincing. We would like to obtain additional feedback so that we can further fine-tune our services based on local demand," he added.