SINGAPORE - Peter Lim's upcoming healthcare megacity in Iskandar Johor has found a new strategic partner in Thomson Medical, also controlled by the billionaire, which will help develop and promote the 5 billion ringgit (S$5.7 billion) Vantage Bay Healthcare City.
Private healthcare provider Thomson Medical on Monday (Dec 7) inked a memorandum of understanding with Rowsley, the developer controlled by Mr Lim, to work together to conceptualise, develop and promote the healthcare city.
Thomson Medical will advise on the wellness and healthcare aspects of the project, and evaluate opportunities to operate relevant components of the project, either on its own or together with third parties, Rowsley said in a statement.
In September, Rowsley announced that it was re-positioning Vantage Bay into a medical hub instead of a township, on the back of soft market sentiments for residential apartments in Iskandar in the last year.
Vantage Bay Healthcare City, a 9.23 hectare site just a kilometre from the Johor Causeway, is expected to be ready in 2018, and will comprise a specialist hospital, a community hospital, long-term care facilities, a teaching hospital, a medical school, research and training institutions, and a wellness resort.
Roswley said in its statement: "According to official statistics, the number of Malaysians and Singaporeans aged 65 years and older will double to 6 million by 2030 from today. With aging population and rising healthcare costs, Rowsley believes that Vantage Bay Healthcare City is well-placed to address these trends."
Dr Chan Boon Kheng, Thomson Medical's group president, said: "We are pleased to be Rowsley's strategic partner for the Vantage Bay Healthcare City project. We believe Thomson Medical will play a pivotal role in the seamless management and coordination of the Healthcare City and the Thomson Iskandar developments to the benefits of all involved."