Singapore's Fraser and Neave has received an unsolicited cash offer from an unidentified party for its serviced-residence and hospitality business. The conglomerate said the S$1.4 billion (US$1.1 billion) offer is unrelated to any director or substantial shareholder of F&N. Last month, TCC Assets, which is linked to Thai Beverage, offered S$8.88 a share for the entire F&N business, valuing the...
Hotel
Property giant City Developments Limited (CDL) unveiled its new luxury hotel W Singapore - Sentosa Cove on Tuesday. Experts said the hotel, which claims to be Singapore's greenest new hotel, offers, will reinforce CDL's corporate sustainability efforts. The developer of W Singapore - Sentosa Cove said this is the first new hotel in Singapore to be awarded the Green Mark Platinum Award. The Platinum...
The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the White site at Thomson Road / Irrawaddy Road for sale by public tender. The land parcel was made available for sale through the Reserve List system on 30 November 2011. URA has received an application from a developer for the site to be put up for public tender. The developer has...
Singapore-listed property developer Overseas Union Enterprise (OUE) said it has been approached by some potential buyers for its Mandarin Orchard Singapore hotel and the adjoining Mandarin Gallery mall. In a filing on the Singapore Exchange on Wednesday, OUE said it has offered an unnamed potential buyer exclusivity to conduct preliminary due diligence on the two properties. The developer added that it...
The Urban Redevelopment Authority (URA) has launched the residential site at Jalan Jurong Kechil and the hotel site at Jurong Town Hall Road for sale by public tender today. The land parcel at Jalan Jurong Kechil was made available for sale through the Reserve List system on 13 November 2006. On 5 September 2012, URA announced that it had received an application from a developer to put up the land parcel...
Preparations for Singapore's Formula One Grand Prix this weekend have kicked into top gear. And hotels around the circuit area said interest remains high despite it being the race's fifth year. Hotels that command prime views are also making sure their guests have everything to make their experience enjoyable. A check with several hotels around the circuit area revealed occupancy is around 95 per cent...
Four thousand new hotel rooms are expected to be ready by 2013 to alleviate room shortage in Singapore. To cater to tourists looking to stay away from the city, a growing number of industry players are developing hotels in the heartlands. Under the Government Land Sales programme, developers have bid for hotel sites in suburban areas such as Balestier, Farrer Park and even further west in Alexandra and...
Pan Pacific Hotel Group said serviced apartments is a unique growth segment in Myanmar. The Singapore listed group had acquired a hotel in the former capital, Yangon, eleven years ago and branded it as part of its Park Royal hotels chain. And now that Myanmar's economy is opening up, the Group said its investment in the country is paying off. Pan Pacific Hotel Group's CEO, Patrick Imbardelli, said:...
Mainboard-listed Straits Trading Company has acquired the Rendezvous Grand Hotel Melbourne for S$79.3 million. The company said this latest acquisition will add to its Rendezvous Hospitality Group portfolio. It will also strengthen and expand its footprint in the Asia Pacific region amid growth in travel and tourism. Mr Eric Teng, Straits Trading's Chief Executive Officer (Property & Hospitality)...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for the hotel site at East Coast Road today. The land parcel at East Coast Road is made available for application under the Reserve List of the 1st half 2012 Government Land Sales (GLS) Programme. The land parcel is prominently located at the junction of East Coast Road and Joo Chiat Road, an area lined with conserved...