Singapore-based healthcare group, Thomson Medical Group, announced yesterday (Aug 25) the launch of Johor Bay: an RM18 billion (US$4.3 billion) mega project in Johor, Malaysia that includes a private hospital, residential, and commercial properties.
The 10.52ha project is located within the Johor-Singapore Special Economic Zone (SEZ), and is billed as one of Southeast Asia’s largest integrated healthcare-led developments, according to the company.
At its core will be the Thomson Hospital Iskandariah, which can accommodate 1,000 beds—an expansion from the 500-bed capacity that was initially planned. The project will also include specialist suites, aged care facilities, and a life sciences tower for medical research.
Beyond healthcare, Johor Bay will feature luxury residences, a five-star hotel, and commercial precincts aimed at regional tourism and medical travellers. The development is located just 1.2km from the upcoming Bukit Chagar RTS station and minutes from the Causeway.
Describing the project as Johor’s “Marina Bay,” Thomson Medical’s executive vice-chairman, Kiat Lim, who is also the son of Singapore billionaire Peter Lim, shared that the site was designed to meet the rising demand for healthcare-linked living and investment opportunities.
He added that the first phase will deliver the private hospital, Thomson Hospital Iskandariah, as well as a 47-storey luxury residential tower, which is expected to generate over 1,200 jobs during construction and operations.
“The time is right—economic tailwinds, infrastructure momentum, and demographic shifts are converging,” Lim said to CNA.
Johor Chief Minister Onn Hafiz Ghazi welcomed the project, calling it a “timely and strategic development” that supports the state’s long-term goals.
“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,” he added.
Founded in 1979, TMG is a leading healthcare provider in Southeast Asia. It operates three tertiary hospitals with 790 licensed beds across Singapore, Malaysia, and, most recently, Vietnam, with the S$517.1 million acquisition of FV Hospital in December 2023.
The Group also runs a chain of specialist medical centres and diagnostic centres in Singapore, fertility centres in Malaysia, and chiropractic clinics in Vietnam.
According to a 2024 report by Phillips Capital, Thomson Medical Group’s operations in Malaysia serve as the company’s primary growth driver. With the addition of the Johor Bay project, it seems that the company will see accelerated growth in the country.
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Featured Image Credit: Thomson Medical Group