I recently visited the Raffles Holland V mall that is owned by private healthcare services provider Raffles Medical Group Ltd (SGX: BSL). I was there to perform some scuttlebutt. The mall was officially opened in October 2016. It is the company’s second multi-disciplinary medical facility in Singapore outside of Raffles Hospital. The first such facility is Raffles Medical Centre – Orchard, which is located at Shaw Centre. Raffles Holland V has a gross floor area of 62,720 square feet and comprises five above-ground levels, one roof terrace level, one basement level, and two levels of basement car parks. Raffles…
The mall was officially opened in October 2016. It is the company’s second multi-disciplinary medical facility in Singapore outside of Raffles Hospital. The first such facility is Raffles Medical Centre – Orchard, which is located at Shaw Centre.
Raffles Holland V has a gross floor area of 62,720 square feet and comprises five above-ground levels, one roof terrace level, one basement level, and two levels of basement car parks.
Raffles Medical occupies the entire fifth level of the mall. The anchor tenants there include DBS Bank, Virgin Active, and Taste. The mall offers a wide and unique range of food and beverage (F&B), beauty, fitness, and lifestyle offerings. It is also easily accessible as it is located right beside the Holland Village Circle Line MRT station.
Here are some things that I experienced during my visit to the mall on a weekday afternoon:
1. There were quite a number of students at the F&B outlets in the mall. This is not surprising since there are many education institutes in the vicinity. For instance, Anglo-Chinese School (International) is located 800 metres away while a private student hostel, Singapore International Campus, is situated 300 metres from the mall. Raffles Holland V provides students with a place to gather.
2. It was surprising to see the mall being well-patronised at 3 pm on a Wednesday. Many of the F&B outlets were brimming with people. Most of these outlets are located on the ground floor.
3. Part of Level 3 and the whole of Level 4 are taken up by Virgin Active, a fitness centre. The mall is the first of its clubs in Singapore to have a Pilates Reformer studio. A quick Google search shows there are six other gyms, yoga, and pilates studios within a 3-minute walk from Raffles Holland V. But, I reckon Virgin Active is the largest and the most prominent of them all.
4. Haakon Superfoods and Juice, which serves superfoods and more, appears to cater to gym enthusiasts and health-conscious individuals. A quick chat with one of the staff revealed that it is doing well. The outlet is also well-located at the entrance of the mall.
5. DBS Bank takes up 4,500 square feet of space, which comprises ATM services on Level 1, and DBS Branch and DBS Treasures Centre on Level 2. It is the biggest banking hall in the neighbourhood.
6. Located at Basement 1 is Taste, a lifestyle grocer with a new concept that focuses on good food, personalised recipes, and food pairings. It brings a wide selection of fresh meats and seafood from around the world to its customers. The retailer should be catering to the expatriates living in the area.
7. According to Raffles Medical’s investor relations department, the mall is fully occupied, as of 30 August 2017.
Overall, I was impressed by the number of people at the mall during a non-peak period. Having varied F&B options and anchor tenants such as DBS Bank helps to bring in the crowd.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Raffles Medical Group Ltd. Motley Fool Singapore contributor Sudhan P owns shares in Raffles Medical Group Ltd.