Singapore's Thomson Medical launches $4.3 bln Johor Bay project

Thomson Medical

25/08/2025 10:30

SINGAPORE, Aug 25 (Reuters) - Thomson Medical Group THOS.SI said on Monday that it has launched a project worth more than 18 billion ringgit ($4.3 billion) in the Malaysian state of Johor, in one of Southeast Asia's largest private healthcare-linked property ventures.

The Singapore-listed Southeast Asian healthcare company said in a statement that the 26-acre (10.52 hectares) Johor Bay project, within the southern Johor-Singapore Special Economic Zone, will include a private hospital called Thomson Hospital Iskandariah, specialist suites, aged care facilities and a life sciences tower.

It will also include luxury residences, a five-star hotel, and commercial-lifestyle precincts, it added.

Thomson Medical said the project reflected rising demand for private healthcare and would support medical tourism and the region's ageing population.

"The time is right: economic tailwinds, infrastructure momentum, and demographic shifts are converging," Kiat Lim, Thomson Medical's Executive Vice-Chairman, said in the statement.

Johor's Chief Minister Onn Hafiz Ghazi said the state welcomed the investment, describing it a strategic boost to healthcare access and economic growth.

($1 = 4.1960 ringgit)

 (Reporting by Yantoultra Ngui; Editing by Kate Mayberry)

 ((Yantoultra.Ngui@thomsonreuters.com;))