Within the facility will be a tele-healthcare centre that will enable hospitals to remotely monitor and treat patients at home, Philips announced in a media release Monday of this week.
"Singapore is a vital innovation hub in the region for Philips," said Royal Philips CEO Frans van Houten. "This new will drive our innovation particularly in healthcare."
"With the new tele-health centre, for example, we aim to improve patient health and lower treatment costs by monitoring patient conditions and reducing the need to hospitalise patients."
The building will also contain new research and development facilities, a co-creation centre with rapid prototyping capabilities, and a digital command centre for monitoring global and local consumer trends on top of managing content.
Philips will also set up a new lighting experience centre to showcase their latest innovations in lighting.