Raffles Medical Group pays $105.2m for land plot to expand Raffles Hospital
Private healthcare provider Raffles Medical Group has agreed to buy a site adjacent to Raffles Hospital in North Bridge Road for $105.2 million to expand the hospital.
The land, to be purchased from the Singapore Land Authority, has an area of 21,292 sq ft.
With a plot ratio of 5.6, it would yield a potential gross floor area of some 119,235 sq ft, the group said on Wednesday.
Separately, Raffles Medical Group has already obtained permission from the Urban Redevelopment Authority to raise the plot ratio on its existing land for Raffles Hospital, which can yield an additional 102,634 sq ft in floor area.