Raffles Medical opens new facility in Holland V

It is healthcare group's first property venture; services range from health screening to TCM

Raffles Medical Group (RMG) opened an integrated medical centre in Holland Village yesterday.

The 9,000 sq ft facility takes up the entire fifth floor at RMG's new Raffles Holland V mall and offers health screening, family medicine, dental care, traditional Chinese medicine (TCM) and specialist services.

The mall, which is RMG's first property venture, will also have food and beverage offerings when it opens in August.

Its tenants include Haakon Superfoods and Juice, Soup Restaurant, Hoshino Coffee and Sushi Tei.

A Straits Times visit yesterday showed a deserted mall save for RMG's centre and a few tenants who had begun preparations but not operations.

Mr Andreas Dale, managing director of Haakon, a Singapore-based Scandinavian healthfood cafe, said: "We are targeting health-conscious customers and that includes people visiting the medical facilities.

Raffles Holland V mall sits on a site that RMG bought from DBS Group for $54.8 million in 2013. It has a total lettable area of about 41,850 sq ft.
Raffles Holland V mall sits on a site that RMG bought from DBS Group for $54.8 million in 2013. It has a total lettable area of about 41,850 sq ft. PHOTO: GIN TAY FOR THE STRAITS TIMES

"This is our first store and this mall was our No. 1 option."

Haakon, which will offer dishes with superfood ingredients such as acai and chia seeds, has signed a three-year contract for 500 sq ft of space.

RMG chief executive Loo Choon Yong said in March that the property venture is in line with the group's healthcare operations.

"We remain a healthcare company and will own a property only when it makes sense, for instance, to help us mitigate clinic rental in prime locations," he said.

"Don't expect to see us developing a residential or commercial project that doesn't have medical services at its core. The only reason we own a property is to deliver our healthcare services."

The mall, which sits on a site bought from DBS Group for $54.8 million in 2013, has five floors and a basement level, with a total lettable area of around 41,850 sq ft.

RMG said in March that it expects a "6 to 7 per cent rental yield" from the mall's 40 commercial units.

Dr Prem Kumar Nair, RMG's managing director, Singapore healthcare, said: "Holland Village is a popular lifestyle destination for locals and expatriates, and we are excited at the opportunity to bring our healthcare services closer to them."

A version of this article appeared in the print edition of The Straits Times on June 15, 2016, with the headline 'Raffles Medical opens new facility in Holland V'. Print Edition | Subscribe