SINGAPORE--(BUSINESS WIRE)--Jun 16, 2025--
Seveno Capital and Borderless Healthcare Group have launched the world’s first medical wellness real estate company to target the growing $1.8 trillion global wellness market as the world enters a ‘longevity boom’ that UBS reports will be worth US$8 trillion by 2030.
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The Well Estate will support hotel and hospitality asset owners to shift from a ‘room yield’ to a ‘room plus’ business model by providing turnkey medical wellness solutions that give guests live access to health and medical experts as well as famous content creators. Guests will also have access to personalised diets, fitness, yoga, mindfulness and health programs.
The Well Estate solution will unlock new revenue channels for hospitality asset owners that will drive higher transaction value per stay, longer guest retention and full utilization of underperforming facilities like gyms and spas. The new company will focus on asset owners within the ‘wellness archipelago’ of Singapore, Thailand, Indonesia, Vietnam and Malaysia.
The global wellness industry is booming, valued at $5.6 trillion in 2023 and projected to reach $8.5 trillion by 2027, according to the Global Wellness Institute. The wellness economy is also expected to grow by 8.6% annually through 2027, outpacing global GDP.
Hotels are playing a growing role, with wellness tourism accounting for $651 billion globally in 2022 and expected to hit $1.4 trillion by 2027. Travelers increasingly seek wellness experiences, with over 50% preferring hotels that offer spa, fitness, and nutrition services.
Luxury wellness resorts can generate 30–50% higher daily rates than traditional hotels. Hotels are investing heavily to meet this demand and to capture a larger share of this lucrative market; integrating labs, diagnostics, IV drips and longevity hubs into their amenities.
The Well Estate is a JV between Borderless Healthcare Group, led by global healthcare technology, media, telecommunication, service and content pioneer Dr Wei Siang Yu; and Seveno Capital, led by Park Hotel Group founder and healthspan entrepreneur, Allen Law.
Allen Law said:
“The Well Estate will enable hospitality asset owners to align their business and guest offering with the global wellness and longevity revolution that will be equally as transformative as AI.”
Dr Wei said:
“This represents a new phase for the hospitality sector and a new benchmark for immersive guest experiences that are profitable, purposeful and scalable.”
Allen Law and Dr Wei Siang Yu
The Well Estate is a joint venture between Borderless Healthcare Group, led by Dr. Wei Siang Yu, and Seveno Capital, led by Allen Law.
MINNEAPOLIS (AP) — The state of Minnesota and the Twin Cities of Minneapolis and St. Paul are suing the federal government to stop an enforcement surge by Immigration and Customs Enforcement following the fatal shooting of a Minneapolis woman by an ICE officer.
The state and cities filed a lawsuit in federal court on Monday, along with a request for a temporary restraining order to halt the enforcement action or limit the operation.
The Department of Homeland Security says it’s surging more than 2,000 immigration officers into Minnesota, and that it has made more than 2,000 arrests in the city since the push began last month. ICE has called the Minnesota surge its largest enforcement operation ever.
The lawsuit alleges that Operation Metro Surge violates federal law because it’s arbitrary and capricious, since it says other states aren’t seeing commensurate crackdowns. And while the Trump administration says it’s about fighting fraud, the lawsuit says ICE agents have no expertise in combatting fraud in government programs.
The lawsuit says the federal government is really targeting Minnesota over politics, which it says is a violation of the First Amendment.
Also, Monday federal officers fired tear gas to break up a crowd of whistle-blowing bystanders in Minneapolis who showed up to see the aftermath of a car crash involving immigration agents, just a few blocks from last week's fatal shooting.
A crowd emerged to witness a man being questioned by agents who had rear-ended his car. Agents used tear gas to try to break up the group, then drove off as people screamed, “cowards!”
It was another tense scene following the death of Renee Good on Jan. 7 and a weekend of more immigration enforcement sweeps in the Minneapolis area. There were dozens of protests or vigils across the U.S. to honor Good and passionately criticize the Trump administration's tactics.
Gov. Tim Walz and his wife Gwen visited the memorial to Good, 37, on the street where she was shot in the head and killed while driving her SUV.
Trump administration officials have repeatedly defended the immigration agent who shot her, saying Good and her vehicle presented a threat. But that explanation has been widely panned by Walz and others based on videos of the confrontation.
Christian Molina, a U.S. citizen who lives in Coon Rapids, said he was driving to a mechanic Monday when agents in another vehicle followed him, even turning on a siren.
Molina said his rear bumper was hit as he turned a corner. He refused to produce identification for the agents, saying he would wait for local police.
“I’m glad they didn’t shoot me or something,” Molina told reporters.
Standing near the mangled fender, he wondered aloud: “Who’s going to pay for my car?”
Meanwhile, in Portland, Oregon, federal authorities filed charges against a Venezuelan national who was one of two people shot there by U.S. Border Patrol on Thursday. The U.S. Justice Department said the man used his pickup truck to strike a Border Patrol vehicle and escape the scene with a woman.
They were shot and eventually arrested. Their wounds were not life-threatening. The FBI said there was no video of the incident, unlike the Good shooting.
EDS NOTE: OBSCENITY - A man gestures as he walks toward a cloud of tear gas that was deployed by federal immigration officers Monday, Jan. 12, 2026, in Minneapolis. (AP Photo/John Locher)
Federal agents drive through smoke from tear gas dispersed during a protest, Monday, Jan. 12, 2026 in Minneapolis (AP Photo/Adam Gray)
Federal agents get ready to disperse tear gas into a crowd at a protest, Monday, Jan. 12, 2026 in Minneapolis (AP Photo/Adam Gray)
A protester's face is doused in water after he was pepper sprayed outside of the Bishop Whipple Federal Building, Monday, Jan. 12, 2026, in Minneapolis. (AP Photo/Jen Golbeck)
Protesters try to avoid tear gas dispersed by federal agents, Monday, Jan. 12, 2026 in Minneapolis (AP Photo/Adam Gray)
