Allco Commercial REIT has been given the green light to build a 10-storey hotel with about 350 rooms at China Square Central. The Urban Redevelopment Authority (URA) has granted Allco REIT permission to add 16,000 square metres of gross floor area to the development in the central business district. The development currently consists of a 15-storey office block and 38 conservation shop house...
Hotel
Millennium & Copthorne Hotels New Zealand said it has completed its purchase of the Copthorne Hotel Auckland Harbourcity. But in a filing to the Singapore Exchange, it said the price of the deal was confidential. Millennium & Copthorne is funding the purchase with cash and a new loan facility. The area around the Copthorne Hotel Auckland Harbourcity is now a focal point for entertainment and...
I READ “It’s the end of the Storey” (June 27) with disbelief. How serious are we as a nation about preserving what little is left of our heritage? What, exactly, are these “engineering constraints” that make it impossible to construct the Downtown Line without demolishing the New 7th Storey Hotel? Since the Bugis station already exists, would it be fair to say that they will just be doing works...
Shouldn’t technology be able to save the New 7th Storey Hotel? I REFER to “It’s the end of the Storey” (June 27) and I want to express my utmost disappointment at the imminent demolition of the New 7th Storey Hotel (picture) along Rochor Road. It is hard to understand that with the advance in building technology why this is the only engineering solution to resolve the situation; we have even seen...
Attractive profit from sale of Millennium Seoul Hilton SINGAPORE’S Hong Leong Group is selling the Millennium Seoul Hilton to Korean property developer Kangho AMC for nearly $700 million, reaping an attractive profit of about $465 million in the process. :The 685-room hotel is in one of Seoul’s choicest districts. Hong Leong’s hotel arm, Millennium and Copthorne (M&C), bought it for the...
PROPERTY watchers say they do not expect to see any sale of the hotel sites under the Reserve List during the coming quarter, because of the current cautious sentiment in the market. Under the Government Land Sales programme for the second half of the year announced on Thursday, 10 hotel sites were up for sale but only one via the Confirmed List. Hotel room rates have been rising as Singapore receives...
Capitol Centre at Stamford Road may be demolished to make way for a new hotel to meet demand for hotel rooms. The location is one of eight confirmed sites that have been released for sale, under the Government's Land Sales programme. The Ministry of National Development also announced on Thursday that it will release enough land to potentially build nearly 8,000 private residential units, in the second...
Singapore's first airport hotel has opened its doors to guests, nearly 30 years after Changi Airport began operations. Although the 320-room Crowne Plaza Changi Airport has just opened for two weeks and not all the rooms are ready, it is already meeting its occupancy target of 75 percent for the full year. Room rates at the hotel start from about US$200 – just below the prices at the premium Orchard...
JTC Corporation on Wednesday launched a tender for a mega development site at Changi Business Park, and the 4.7-hectare site is likely to see bids as high as S$600 million. The winning bidder will have to build an integrated development comprising a business park, retail activities and a hotel. Changi Business Park has been a hub for businesses that need to stay close to the airport or away from the city...
Raffles Hotels & Resorts is set to open in Moscow in 2011. The 130-room Raffles Moscow will be managed by Raffles under a long-term contract that may last more than 20 years. An agreement was sealed with its partner ALT Corporation, witnessed by Senior Minister Goh Chok Tong who is currently on a visit to Moscow. Raffles Hotel said the new property will be located in Moscow's business district, near...