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,...
Cockpit International group has sold the 241-room Ibis Novena located at the corner of Balestier and Irrawaddy Roads for $118 million or $489,626 per room. The freehold hotel opened in April this year. The buyer is said to be Singapore-based Grand Line International, controlled by the Kum family. Market watchers say the pricing achieved for Ibis Novena reflects the steady appreciation in transaction...
ibis Singapore Novena, the latest addition to international hotel group Accor, welcomed its first guest at 11.00 am at its new hotel near Novena MRT station Sunday. This is the second ibis hotel in Singapore, targetting corporate and individual bookings for both mid and long-term stays. "The opening of the second ibis hotel in Singapore marks another important milestone for the ibis brand in this part of...
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