[SINGAPORE] Healthcare provider Thomson Medical Group on Monday (Aug 25) announced a Johor Bay “mega project” in Malaysia, with a projected gross development value (GDV) of more than RM18 billion (S$5.5 billion).
Described as a 10.5 hectare (ha) integrated project with a hospital, specialist centre, as well as assisted living and healthcare ancillaries, it will also incorporate luxury residences, hospitality, commercial and lifestyle elements.
The group did not provide a timeline for the development’s completion.
“The Johor Bay project is a timely and strategic development that supports the state’s long-term goals,” said Johor Chief Minister Onn Hafiz Ghazi.
“Not only will the Thomson Hospital Iskandariah project help strengthen Johor’s position as a premier healthcare hub in South-east Asia, but the wider Johor Bay project will add to our overall economic growth agenda under the Johor-Singapore Special Economic Zone,” he added.
Kiat Lim, executive vice-chairman of Thomson Medical, said the project “is the result of the group’s conviction in Johor’s long-term potential as a jewel in the region”.
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Facing the Straits of Johor and in the vicinity of the Causeway, the development’s site is located along Jalan Ibrahim Sultan.
It is around 800 m from the Custom, Immigration and Quarantine complex and less than 1.2 km from the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) Link’s Bukit Chagar Station.
A “healthcare nucleus” will take up 3.6 ha of the site. This will include the Thomson Hospital Iskandariah, specialist clinics, aged care, assisted living, post-natal care facilities, and a Grade A life-sciences office tower.
The hospital, which was announced in March, will cover multiple disciplines, including oncology, orthopaedics, as well as obstetrics and gynaecology. The planned 500-bed hospital will have enough space for expansion to a capacity of more than 1,000 beds.
Construction of the hospital will begin in 2026. Its first phase of operations is targeted to coincide with when the RTS Link train system becomes full operational; this is currently slated for December 2026.
High-end residences will take up another 3.6 ha of the development, with a separate 0.8-ha plot for a five-star hotel, serviced residences, as well as lifestyle and commercial offerings designed to cater to regional tourists or medical travellers.
Thomson Medical said the first phase of the Johor Bay project, with a total estimated GDV exceeding RM3.1 billion, will consist of the hospital and a 47-storey ultra-luxury residential tower, which is in the final stages of planning.
Shares of Thomson Medical rose 4.3 per cent or S$0.002 to S$0.049 on Monday, before the update.
