Bookmark & Share
Rowsley Ltd has partnered with Thomson Medical Pte Ltd to develop the RM5 billion (S$1.65 billion) Vantage Bay Healthcare City project in Iskandar in southern Malaysia.
In an SGX filing on Monday (7 December), Rowsley revealed that Thomson Medical will advise on the project’s wellness and healthcare aspects. The health care service provider will also evaluate opportunities to operate relevant components of the project, either on its own or along with third parties.
Rowsley had announced in September that it was re-positioning Vantage Bay into a healthcare city with the goal of transforming it into a leading healthcare destination in Asia.
Located in proximity to the Johor Causeway, the 9.3ha Vantage Bay Healthcare City will feature a specialist hospital, long-term care facilities, a community hospital, a medical school, a teaching hospital, research and training institutions, wellness retail services a purpose-built urban wellness resort and other associated facilities.
According to the group, the strategic repositioning of the Vantage Bay township was aimed at capturing the growing demand for healthcare and wellness services within the region, and on the back of soft market sentiments for residential apartments within Iskandar Malaysia last year.
Notably, official data showed that the number of Singaporeans and Malaysians aged 65 and above will double to six million by 2030.
With aging population and rising healthcare costs, Rowsley said it believes that Vantage Bay Healthcare City is well-placed to address these trends particularly in providing quality and affordable healthcare.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Articles:
PropertyGuru to hold inaugural investment conference