Mah Bow Tan-linked venture, Allen Law-owned entity vying for Marina South wellness project

[SINGAPORE] A Singapore Tourism Board (STB) tender to develop a 4-hectare waterfront wellness attraction in Marina South has drawn two bids, which the STB is now evaluating.

In response to queries from The Business Times, STB said on Tuesday (Sep 9) that bids were received from Therme Group Singapore and Platinum Heights at the close of the tender in April 2025. 

Therme Group is an international wellness group headquartered in Austria, known for its wellness resorts featuring saunas and spas.

According to the group’s website, its Asia division is led by former minister for national development Mah Bow Tan, who is president of Therme Group Asia.

According to Accounting and Corporate Regulatory Authority documents seen by BT, he was appointed director of Therme Group Singapore in October 2024. 

Platinum Heights is fully owned by Good Movement Holdings, an entity linked to hotelier Allen Law, founder of the Park Hotel Group. 

Carrie Kwik, executive director of World Expo and special projects at STB, said: “We are currently evaluating the tender submissions and expect to award it in early 2026.”

STB did not disclose the value of both bids. 

A Therme Singapore spokesman said: “If selected, we believe Therme Group’s track record of creating inclusive, year-round wellbeing resorts will contribute to making Singapore an urban wellness haven.”

A representative for Law declined to comment, citing confidentiality agreements.

Therme Group runs large-scale wellness resorts in Romania, Germany, the UK and Canada. This year, it announced plans to open an US$800 million resort in the US and another in Dubai, which is expected to cost US$545 million.

Its resort near Munich, Germany, is the world’s largest thermal spa, with 35 saunas and steam baths, 28 indoor and outdoor slides and 40 pools. 

Law is the chairman of boutique gym chain REVL Training and the co-founder of a fitness brand that owns Yoga Movement and Strong Pilates.

The entrepreneur has invested US$156 million into a new longevity brand – Morrow. The brand’s first wellness centre, at 10 Coleman Street, is expected to open in the fourth quarter of 2025. The centre will offer personalised health assessments, artificial intelligence-driven lifestyle plans and personal coaching.  

Wanted: innovative concepts

STB at the launch of the tender in July 2024 that it was looking for proposals with innovative, high-quality concepts that can positively impact physical, emotional or mental wellness.

“These may include therapeutic art, tech-based offerings such as flotation or light and frequencies-based therapies, and complementary health and alternative therapies, as well as fitness or recovery-related activities, such as indoor and outdoor water or equipment-based activities.” 

The agency added: “The wellness attraction must also implement a strong pipeline of regular, high-quality wellness-themed events or programmes on its premises, as well as in public spaces within the wellness attraction or in the surrounding areas, which will appeal to both tourists and residents.”

BT had reported that the tender was extended to November 2024, to provide more time for tenderers to develop their proposals. 

When asked for details on the proposals submitted by Therme Group and Platinum Heights, STB said more information will be shared upon the tender’s award.