Thomson Medical Group has launched its Johor Bay integrated project that will have a gross development value of RM18 billion.
The development, sitting on a 26-acre site within the Johor-Singapore Special Economic Zone, will include healthcare, luxury residential and hospitality, commercial, and lifestyle elements.
The development is also sited just 1.2km from the upcoming RTS station at Bukit Chagar and minutes from the Causeway and regional ferry terminals.
Thomson Medical Group, controlled by former Remisier King Peter Lim, calls this project "the most expansive private healthcare and real estate ventures on prime land in Southeast Asia to-date."
With the Thomson Hospital Iskandariah as one of the anchor developments, the project aims to ride on the momentum of Johor’s attractive balance of high standards of living and manageable living costs; the imminent completion of the RTS; and the increasing momentum behind the JSSEZ.
“The time is right: economic tailwinds, infrastructure momentum, and demographic shifts are converging," says Kiat Lim, executive vice chairman of Thomson Medical Group.
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"We have built a vision for a mega project that will shape the skyline and the future of the JSSEZ bay area for years to come," he adds.
The first phase of the project includes the Thomson Hospital Iskandariah and a 47-storey "ultra-luxury" residential tower.
YAB Dato’ Onn Hafiz bin Ghazi, Menteri Besar of Johor, says this project is a timely and strategic development that supports the state’s long-term goals.
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"Not only will the Thomson Hospital Iskandariah project help strengthen Johor’s position as a premier healthcare hub in Southeast Asia, but the wider Johor Bay project will add to our overall economic growth agenda under the JS-SEZ."
Thomson Medical Group shares closed at 4.9 cents on Aug 25, up 4.26% for the day but down 2% year to date.
