Thomson Medical Announces $5.5b Project in Johor-Singapore SEZ

It will include a 500-bed hospital with aged care facilities, hotel and serviced residences

- Annabelle Liang

A major new Singaporean development in Johor will include a 500-bed hospital with aged care facilities, a luxury hotel, serviced residences and more, as local businesses increasingly seek to capitalize on lower costs and ample space across the Causeway for expansion.

These plans were announced by Thomson Medical Group, which is listed on the Singapore Exchange, after the market closed on Aug 25. The healthcare services provider is controlled by Singapore billionaire Peter Lim.

It is the latest company to announce investments in the Johor-Singapore Special Economic Zone (JS-SEZ), which was established in January.

The business and investment zone, spanning the Iskandar Development Region and Pengerang, is projected to generate 20,000 skilled jobs for residents on both sides of the Causeway.

Thomson Medical said the 10.5ha project, known as Johor Bay, will benefit from being located close to a station on the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link, and ferry terminals connecting the Malaysian state to Batam and the Riau Islands in Indonesia. The RTS Link is scheduled to open by end-2026.

The site has a projected gross development value of over RM18 billion (S$5.5 billion), making it one of the most expansive private healthcare and real estate ventures on prime land in South-east Asia, according to Thomson Medical.

The first phase of the project will comprise parts of Thomson Hospital Iskandariah, which will open when the RTS Link becomes fully operational, and a 47-storey luxury residential tower.