About the Developer of Skywaters Residences

Developed By:

Skywaters Residences will be re-developed by Alibaba Group and a consortium led by Perennial Holdings. The consortium also includes reputable real estate companies such as Chip Eng Seng and a collaborative effort between SingHaiyi Group and Haiyi Holdings.

The esteemed developers strive to craft an exceptional mixed-use project, seamlessly integrating upscale residential areas with commercial and retail facilities. Rest assured in Perennial Holdings’ dedication to delivering high-quality and excellence, assuring that Skywaters Residences will stand as a top-tier choice for individuals desiring a lavish and convenient lifestyle.

Perennial Holdings

Corporate Profile

Perennial Holdings Private Limited, headquartered in Singapore, stands as a beacon of innovation and sustainability in the integrated real estate and healthcare sectors. As a dynamic company, Perennial Holdings is a real estate owner, developer, and manager, strategically focusing on large-scale Transit-Oriented Developments (TODs). The company’s impressive footprint spans China, Singapore, Malaysia, and Indonesia, boasting a portfolio of approximately 80 million square feet in total gross floor area.

In the healthcare domain, Perennial Holdings operates as an owner, operator, and manager of hospitals, medical centers, healthcare hubs, eldercare, and senior housing. With a robust presence in 16 cities, the healthcare arm oversees over 22,000 beds, including operational beds and those in the pipeline, offering a comprehensive range of services such as medical, nursing, rehabilitation, dementia care, and home care.


Perennial Holdings aspires to be a leading global integrated real estate and healthcare company, dedicated to enriching the lives of its stakeholders and delivering value across all facets of its operations.


The company is committed to building a sustainable business, fostering enduring relationships, and cultivating long-term growth for its shareholders.

Core Values

  • Teamwork: Perennial Holdings places a high value on its people, promoting empowerment, embracing diversity, and fostering unity to achieve corporate goals.
  • Integrity: The company upholds fair business practices, maintaining a high standard of integrity, moral conduct, and governance in its dealings.
  • Excellence: With a passion for innovation and an entrepreneurial spirit, Perennial Holdings pushes boundaries in pursuit of outstanding performance.
  • Sustainability: The company is socially, environmentally, and economically responsible, treating stakeholders with respect and compassion.

Business Presence

Perennial Holdings operates synergistic real estate and healthcare businesses across Singapore, China, Malaysia, and Indonesia, covering 16 cities. In the real estate sector, the company is engaged in healthcare-centric TODs, commercial TODs, integrated developments, and retail, business park, and residential projects. On the healthcare front, Perennial Holdings focuses on hospitals and medical centers, healthcare hubs, eldercare, and senior housing.


Key shareholders include Mr. Kuok Khoon Hong, Wilmar International Limited, Mr. Ron Sim, HOPU Investments, and Mr. Pua Seck Guan. This diverse group brings extensive networks and business experience, contributing to the company’s success in China, Singapore, and other markets.

Real Estate Business in Singapore:

Perennial Holdings continues to shape the landscape of integrated real estate and healthcare, embodying its commitment to excellence, sustainability, and enriching the lives of those it serves.

Alibaba Group

Alibaba Group Holding Limited, a Chinese multinational company specializing in e-commerce, internet, retail, and technology, was established in 1999 by 18 entrepreneurs, led by Jack Ma, formerly an English teacher in Hangzhou, China.

From its inception, the founders envisioned creating a level playing field for small enterprises to compete globally through the internet. Through its inaugural online platform, Alibaba Group successfully facilitated Chinese small and medium-sized businesses in expanding their product reach to a global audience.

In more recent developments, Alibaba Group has entered the burgeoning real estate industry, attracted by its substantial profit potential. In 2017, the company introduced the Alipay app, an online platform enabling individuals to rent properties without requiring a deposit.

In expanding their real estate portfolio, Alibaba’s venture includes a 50% stake in AXA Tower at 8 Shenton Way for S$1.68 billion, solidifying its position in the Skywaters Residences project. This collaboration marks Alibaba’s strategic foray into real estate, complementing its extensive digital presence.

With its ongoing collaboration with Perennial Holdings, Alibaba Group’s future prospects in the real estate sector appear promising.

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