Hotel

4,000 flats launched in first HDB sales exercise with higher grants, raised income ceilings

More than 4,000 new flats were launched for sale on Wednesday (Sep 11), in the first sales exercise where buyers can benefit from higher housing grants and raised income ceilings. A total of 3,373 Build-to-Order (BTO) flats were launched in Punggol and Tampines, while 719 unsold flats from previous sales exercises were launched under the Re-Offer of Balance Flats (ROF) exercise, said the Housing and...

Owner seeking at least S$155m for Killiney Rd freehold hotel site

A Killiney Road freehold hotel development site is up for sale via an expression of interest exercise, with owner private equity firm Lucrum Capital seeking in excess of S$155 million for it. Located in the Orchard Road precinct, the site has a land area of 13,148 square feet (sq ft) with a gross plot ratio of 2.8, and provisional permission has been obtained to rezone the site for hotel use. This...

Singapore hotel room rates to rise by 2% in 2020: report

Singapore’s hotel room rates are expected to rise by 2 per cent in 2020, following “significant” investments into the travel market, according to data from American Express Global Business Travel (GBT) on Friday. Such investments, which includes the multibillion dollar expansions of Changi Airport and Resorts World Sentosa, are expected to increase tourism and the meetings, incentives,...

Bay Hotel Singapore sold for S$235 million

Datapulse Technology will acquire a 5 per cent stake in Bay Hotel Singapore for about S$12.1 million, the disc producer said in a Singapore Exchange filing on Monday night. Its wholly owned subsidiary, Datapulse Investment Pte Ltd (DIPL), has formed a consortium with PAM Holdings I (BVI) Ltd to purchase the hotel from Fiesta Development Pte Ltd and Bay Hotel & Resort Pte Ltd for S$235 million. DIPL...

Ibis Novena sold for nearly S$170m

Alpha Investment Partners has sold a 241-room hotel in Singapore’s Novena area for just under S$170 million. The private equity division of Keppel Capital has already handed over the Ibis Novena Hotel to companies controlled by Bangladeshi tycoon, Mohammed Saiful Alam, chairman of Chitttagong-based conglomerage S Alam Group, in a deal which closed on Wednesday. Through the off-market transaction,...

A second Raffles hotel in Singapore will open on Sentosa in 2022

French hospitality group Accor announced on Tuesday (Jun 25) that a second Raffles hotel will open in Singapore in 2022. The Raffles Sentosa Resort & Spa Singapore will be located on a site adjacent to the existing Sofitel Singapore Sentosa Resort & Spa. Both hotels are managed by Accor. Set in over 100,000 sqm of lush landscaping, the Raffles Sentosa Resort & Spa Singapore will be a villa-only resort,...

CDL launches another attempt to buy Millennium & Copthorne Hotels for S$3.9b

Singapore-listed real estate firm City Developments Ltd (CDL) announced on Friday (Jun 7) another attempt to buy Britain's Millennium & Copthorne (M&C) Hotels, this time for £2.23 billion (S$3.9 billion). The offer represents a premium of about 37 per cent to M&C's closing price of 500 pence on Thursday. Currently, CDL owns approximately 65.2 per cent of M&C. This offer is final and will not be...

K Hotel in Geylang up for sale with S$25m asking price

K Hotel in Geylang has been launched for sale at an asking price of S$25 million, exclusive marketing agent JLL announced on Thursday. Located in the city fringe, the freehold site occupies a land area of 3,725 square feet, and an estimated gross floor area (GFA) of 12,238 sg ft, equivalent to a gross plot ratio of about 3.29. The eight-storey hotel offers 56 double rooms of 12 square metres each....

Far East Hospitality to expand into Vietnam with 2 boutique hotels

Hotel and serviced residences operator Far East Hospitality said on Wednesday (Apr 17) it is expanding into Vietnam, with two boutique hotels set to open in Ho Chi Minh City by the end of the year. The company currently operates 90 hotels and serviced residences in seven countries, including in Australia, Denmark, Germany, Hungary, Malaysia, New Zealand and Singapore. Some of its brands include Oasia,...

UOL wins full control of Marina Mandarin hotel, as UIC unit buys out OUE and others

The Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, under a deal last Friday involving firms linked to tycoon Wee Cho Yaw. United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group. UIC is coughing up that sum...

Compare listings

Compare