SINGAPORE — A bid led by former Cabinet minister Mah Bow Tan, President of Therme Group Asia and a director of Therme Group Singapore, has won the Concept and Price Revenue Tender to build a S$1 billion wellness attraction at Marina South Coastal, the Singapore Tourism Board (STB) said on 4 November 2025.
The four-hectare, waterfront development — Therme’s first attraction in Asia — will feature thermal pools, saunas, steam baths and water slides, plus an almost four-hectare public park linking Marina Barrage to the site.
Targeted to open by 2030, it is projected to attract about two million visitors a year, nearly half from overseas, adding to the Marina Bay precinct near Gardens by the Bay, Marina Barrage, the Marina Bay Cruise Centre and the upcoming Founders’ Memorial.
“We will create a welcoming space that caters to people of all ages and backgrounds, promoting healthy living, social connection and community well-being,” Mah said on Tuesday.
“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.”
STB said submissions were first assessed on concept and design quality before shortlisted bids were evaluated on price. Criteria included track record and financial strength, the development concept, the quality of physical infrastructure plans, and complementarity with surrounding developments. The agency said due-diligence checks verified the information submitted and ensured compliance.
Responding to media queries on 5 November 2025, STB said there was “no misrepresentation of track record” in Therme Group Singapore’s submission.
Questions had referenced an April New York Times report on Therme’s 2019 Toronto bid, which cited a 2024 Ontario audit describing that selection process as “unfair and opaque” and alleging the company overstated its European operational footprint.
In comments to The Business Times, a Therme spokesperson said: “The premier of Ontario and the minister of infrastructure had confirmed that Therme’s proposal met the required standards and passed the necessary evaluations.”
Therme Group Singapore Pte. Ltd. is owned by Vienna-based Therme Group RHTG AG and has a paid-up capital of S$1. Two bids were received: Therme Group and Platinum Heights Pte. Ltd., incorporated on 15 June 2023 and linked to hotelier Allen Law.
Headquartered in Austria, Therme Group operates large-scale wellness resorts; STB cited Therme Erding (Germany) and Therme Bucharest (Romania). In June 2025, Therme and CVC Capital Partners announced a joint venture, Therme Horizon, to invest in spa resorts, with CVC also co-investing in Therme Manchester, slated to open in 2028.
STB first launched the Marina South tender on 5 July 2024. Following requests from potential tenderers, deadlines were extended — first to November 2024 — and the tender subsequently closed on 17 April 2025 to address comprehensive site-related queries.
STB said the project will support Singapore’s goal of S$47 billion to S$50 billion in tourism receipts by 2040, citing global wellness tourism growth of 10.2% annually to US$1.35 trillion by 2028; in 2023, wellness trips accounted for 8% of journeys but nearly 18% of spending.
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