EL Development has signed a memorandum of understanding with Accor for the French hotel chain to manage a new hotel that the Singapore property developer will build in Hill Street. Accor will manage the hotel under its Pullman brand - this will be the first Pullman in Singapore, EL Development managing director Lim Yew Soon told The Business Times in a recent interview. "Singapore is one of the major...
Singtel is selling its Hill Street property to homegrown-property group EL Development. Planning approval has been granted for redevelopment of the site into a hotel. The price is between S$115 million and S$120 million, which works out to about S$1,830 per square foot per plot ratio, according to Business Times. The unit land price is inclusive of a differential premium to change the use of the...
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