Raffles Hospital extension on track for completion this year

It is set to add 220,000 sf to the health facility.

Raffles Medical Group is ramping up well at the start of the year, with its hospital extension expected to fully materialize in 2H17.

According to UOB KayHian, the completed extension will contribute an additional 220,000 sf of GFA to Raffles Hospital.

"The integrated medical complex will provide support to the hospital’s existing range of specialist services, healthcare training and clinical research as well as open opportunities for growth and expansion for future years," the brokerage firm noted.

Meanwhile, UOB pointed out that the medical group remains positive on the performance of Raffles Holland V Medical Centre.

"We believe Raffles Holland Village Medical Centre may achieve breakeven at a faster pace than Shaw Centre, potentially in a year," UOB said, noting its strategic location near residential areas and schools as well as easy access via proximity to the train station.

About 95% of space has been leased out to tenants as at the end of 2016.