Thai Medical Groups Co (TMG), a manufacturer of medical gloves, has signed a land lease agreement to build La Torre Medical Wellness Center, a luxury riverside wellness centre worth 5 billion baht.
The deal was made on Monday with the Techasamphan Association.
The new medical wellness facility will be based in a 56-floor building, to be built on a 5 rai plot of land. The building will consist of 376 residential units. It will also include a medical wellness centre, a fitness centre, fine dining restaurants and a rooftop restaurant.
"The centre, with holistic healthcare in the form of a 6-star luxury service, is expected to be completed in 2025," said Boon Vanasin, chairman of TMG's board.
The company earlier signed a memorandum of understanding with Aviation Industry Corporation of China International Project Engineering (AVIC-INTL) to jointly develop La Torre Medical Wellness Centre on Rama III Road in Bangkok.
Medical services are among a variety of businesses operated and overseen by AVIC-INTL. Others include aviation, automobiles and logistics as well as infrastructure development and financial services.
Booniam Techasamran, president of the Techasamphan Association, said the project will be constructed facing the Chao Phraya River, so every residential unit will have a view of the river.
"The building is located opposite Bang Krachao, dubbed the 'Green Lung' of the capital," he said.
Bang Krachao, which is located in Bangkok's neighbouring province of Samut Prakan, earned this nickname due to its green and leafy surroundings.
According to Dr Boon, the tourism industry appears to be still recovering, which will be good for economic growth and bring benefits to the medical and wellness sectors.
Thailand is also an aged society, so healthcare services will be very important.
Dr Boon said the new medical wellness centre will serve people of all ages, with the aim of keeping them physically and mentally healthy through a range of services provided by a health check-up service centre, a physical therapy centre, a child and adolescent health centre, a skin health and beauty centre and a health centre for exercise.