KUALA LUMPUR (Oct 14): Tan & Tan Developments Bhd today signed an agreement with Meaningfull Life Sdn Bhd to jointly venture into the operations of convalescent/post-hospitalisation and senior living facilities.
Tan & Tan Developments is a wholly owned subsidiary of IGB Bhd - a property conglomerate with key developments in retail, commercial buildings, residential project, construction, hospitality, education and hospital.
Meanwhile, Meaningful Life is an award-winning elder care company. The company was one of the recent grant recipients of the Khazanah Impact Innovation Challenge.
Under the joint venture, Tan & Tan Development and Meaningfull Life will jointly set up ReU Living Sdn Bhd that focuses on post-hospitalisation facilities and senior living facilities business.
“Leveraging on our vast experience, we would like to own and operate lifestyle products catering to convalescent/post-hospitalisation care and seniors living. We will be rejuvenating one of our hotels to run this new business.
“We are confident that this JV between IGB’s experience and our partner’s specialty in this area of business, will forge a solid offering of lifestyle products and services to cater for this underserved sector,” said IGB deputy CEO Tan Boon Lee in a press statement today.
Meaningfull Life founder and CEO Anna Chew shared that ReU Living’s goal is to manage and operate lifestyle communities to enrich seniors’ lives and provide convalescent/post-hospitalisation facilities for rehabilitation.
“Convalescent/Post-hospitalisation care is a very important transition period to enable someone to recover fully. ReU Living will be providing round the clock care, daily meals catered to residents’ nutrition needs, full housekeeping services, daily curated activities to speed up residents’ recovery and other additional services.
“This is an exciting new venture, to be able to JV with a partner that has building management and hospitality expertise,” said Chew.
She anticipates to unveil the first lifestyle product focusing on convalescent/post-hospitalisation care and seniors living in the first quarter of 2022.
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