Pua Seck Guan, the bank’s CEO and executive president, stated that the service can provide elderly people with wellness and restoration services.
The company is looking into different concepts aimed at wealthy customers in addition to eldercare, such as medical wellness, sports wellness, and other ones.
HELP IN RENDERING A WELLNESS INDUSTRY
For private field entrants to the market, Perennial Holdings, which has encounter operating hospitals and rehabilitation facilities worldwide, said zoning laws and great staff costs are major obstacles.
Mr. Pua claimed that the government decides the planning and preparing for such websites in well-regulated nations like Singapore.
He added that one of the factors influencing the expansion of the healthcare field is the difficulty in securing these sites, and he hopes authorities can unwind some rules.
He claimed that by collaborating with authorities like the Singapore Tourism Board (STB), powerful travelers can grow.
If we can create and develop this business properly, Singapore is quite well-positioned to be a wellness center, said Mr. Pua.
The STB requested ideas for a new healthcare center at the Marina South Coastal page in July 2024, but the date has since been extended half.
Lee Sze Teck, Huttons Asia’s older director of information analytics, said he thinks there aren’t many major or well-known companies that are capable of developing the page, which is close to Marina Barrage.
The site’s intention is to house a “world-class” healthcare attachment, which Singapore’s Minister-in-charge of Trade Relations, Grace Fu, announced in May 2024.
According to Mr. Lee, many nations are dealing with new uncertainty as a result of the continuous tariffs imposed by the US.
He added that some businesses are weighing their investments and weighing the effects of tariffs on potential customer demand.