PETALING JAYA: IGB Bhd’s wholly owned subsidiary Tan & Tan Developments Bhd has signed an agreement with Meaningfull Life Sdn Bhd to set up a joint-venture (JV) company ReU Living Sdn Bhd focusing on operating convalescent/post-hospitalisation facilities and senior living facilities.
Over the years, IGB has established its track record with key developments in retail, commercial buildings, residential units, construction, hospitality and education. IGB also built the Gleneagles Hospital, which was subsequently sold.
“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,” said IGB deputy CEO Tan Boon Lee in a statement today.
IGB’s joint-venture partner Meaningfull Life is an eldercare company and one of the grant recipients of the Khazanah Impact Innovation Challenge.
“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,” Tan added.
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 an 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 Meaningfull Life founder and CEO Anna Chew.
“We anticipate to unveil our first lifestyle product focusing on convalescent/post-hospitalisation care and seniors living in the first quarter of 2022,” Chew added.