PETALING JAYA (Oct 14): Tan & Tan Developments Bhd, a wholly-owned subsidiary of IGB Bhd, has signed an agreement with Meaningfull Life Sdn Bhd to set up a joint venture (JV) company called ReU Living Sdn Bhd. This JV will focus on operating convalescent/post-hospitalisation facilities and senior living facilities.
In a statement, IGB deputy chief executive officer Tan Boon Lee said: “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 and as such, 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,” he said.
Meaningfull Life was one of the grant recipients of the Khazanah Impact Innovation Challenge. Its founder and chief executive officer Anna Chew is an advocate of lifestyle oriented senior living products and services.
ReU Living’s goal is to manage and operate lifestyle communities to enrich seniors’ lives and provide convalescent/post-hospitalisation facilities for rehabilitation.
Chew noted that 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,” she said.
“This is an exciting new venture, to be able to work with a partner that has building management and hospitality expertise. We anticipate to unveil our first lifestyle product focusing on convalescent/post-hospitalisation care and seniors living in the first quarter of 2022.”