Mah Bow Tan-led Therme Group unit wins STB tender, plans S$1 billion wellness attraction in Marina South
Singapore’s first dedicated wellness attraction is expected to draw up to two million visitors a year
[SINGAPORE] A 4-hectare (ha) waterfront site in Marina South has been awarded to European operator Therme Group, which will develop a S$1 billion wellness attraction slated to open by 2030.
On Tuesday (Nov 4), the Singapore Tourism Board (STB) said the wellness attraction in Marina South will feature thermal pools, saunas, steam baths and water slides. It is designed to appeal to multiple demographics, including families with children, seniors and working adults.
It will be Singapore’s first dedicated wellness attraction.
The attraction is expected to draw about two million visitors annually at full operational capacity, with nearly half of the visitors expected to be international.
Jean Ng, STB’s assistant chief executive (experience development group), said: “Our vision is to establish Singapore as a leading urban wellness haven through a world-class facility that offers transformative wellness experiences for visitors and locals alike…
“Therme Group’s approach to wellness – encompassing physical, mental and emotional well-being – aligns well with our focus areas. In line with our pursuit of quality tourism, this attraction will draw travellers seeking wellness experiences, potentially increasing length of stay and spend, whilst providing locals with best-in-class wellness experiences.”
Therme Group is billed as an international wellness group headquartered in Austria, known for its resorts featuring saunas and spas. When completed, the attraction will be Therme Group’s first in Asia.
According to the group’s website, its Asia division is helmed by former minister for national development Mah Bow Tan, who is chairman of Therme Group Asia.
In a statement released on Tuesday, Mah said: “We will create a welcoming space that caters to people of all ages and backgrounds, promoting healthy living, social connection and community well-being.”
He added: “We will partner with local organisations and enterprises to activate the surrounding public spaces, and make this another jewel of Marina Bay – a world-class destination that draws visitors from the region and beyond, showcasing Singapore as a leader in holistic wellness.”
An investigation by The New York Times published in April, however, revealed that the company had misrepresented itself with false claims, “misleading the Ontario government and exaggerating its experience” in a 2019 bid to secure a deal to run wellness facilities in Toronto.
The contracting process for its deal in Toronto, in which the Ontario government was to bear upfront costs of hundreds of millions of dollars, was found by auditors to be unfair and opaque, The New York Times reported.
The paper’s investigation found that Therme Group had falsely presented itself as an industry player that operated as many as half a dozen spas in Europe, when it had built and operated only one, outside Bucharest, Romania. It added that the group’s finances also appeared “shaky”, and that it has since roped in fresh outside backers this year.
In response to queries from The Business Times, a spokesperson for Therme Group said it is a “well-capitalised international enterprise with over US$1 billion in support from respected institutional investors and third-party financing partners”, with global projects continuing to advance “through their respective planning, design and construction stages”.
“The premier of Ontario and the minister of infrastructure had confirmed that Therme’s proposal met the required standards and passed the necessary evaluations,” the spokesperson added.
Responding to media queries, an STB spokesperson said: “Therme Group Singapore was selected following a comprehensive evaluation process that assessed all proposals against the published evaluation criteria.”
The spokesperson added: “This included the development concept and how the design would complement the coastal site, the quality of physical infrastructure plans, complementarity to other surrounding developments in the precinct as well as track record and financial strength.”
The Marina South wellness attraction is located in the vicinity of Gardens by the Bay, Marina Barrage, Marina Bay Cruise Centre Singapore and the upcoming Founders’ Memorial. Therme Group will also develop a 4-ha public park linking Marina Barrage to the attraction.
The attraction will support Singapore’s goal of achieving between S$47 billion and S$50 billion tourism receipts by 2040, STB said.
“This development capitalises on the robust growth of wellness tourism, with the global market expected to grow by 10.2 per cent and reach US$1.35 trillion by 2028.”
Wellness trips accounted for 8 per cent of all tourism trips, but represented almost 18 per cent of all tourism expenditure in 2023, showing that wellness travellers tend to spend much more per trip than the average traveller, STB said.
STB first launched a tender for the wellness attraction in July 2024. The deadline was extended to November 2024 following requests from potential tenderers, STB said on Tuesday. The closing date was subsequently extended to Apr 17, 2025, to address comprehensive site-related queries, it added.
The April tender closed with one bid from Therme Group and another from an entity linked to hotelier Allen Law, founder of the Park Hotel Group.
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