A hotel site at Robinson Road and Boon Tat Street has been put up for sale under the Reserve List. The Urban Redevelopment Authority (URA) says the land parcel has a site area of 1,863 square metres and can generate a maximum gross floor area of 7,450 square metres. The site, located in the heart of the Central Business District, is within walking distance to Raffles Place and Marina Bay. It also...
Singapore Hotels
Ibis Singapore on Bencoolen, a three-star hotel that opened its doors in February last year, has been put up for sale via a private tender. Results of the tender will not be out until next month, though market watchers are guessing that the 538-room hotel could fetch more than $200 million. Ibis Singapore is owned by hospitality group Accor and real estate investor LaSalle Investment Management in a...
The Urban Redevelopment Authority, URA will launch a tender for a hotel site at the junction of Clemenceau Avenue and Havelock Road in two weeks time. It has accepted an application from a developer for the hotel site, which is on the Reserve List, for public tender. The developer has committed to bid at least $40.8 million for the land parcel. The URA said the 99-year leasehold site can generate a...
Any makeover plans for Raffles Hotel, which is to be sold to a Qatar sovereign wealth fund, will have to take into account its status as a gazetted National Monument. Proposals for any addition or alteration to the iconic landmark building must comply with the Preservation Guidelines (PGL) under the Preservation of Monuments Act, and will require the approval of both the Urban Redevelopment Authority...
Singapore's Marina Bay Sands integrated resort will add more hotel rooms in the downtown area currently home to at least nine hotel chains. But the existing players see opportunities from the new kid on the block rather than threats. The tower blocks are now prominent landmarks in downtown Marina Bay. Hotels in the vicinity are watching the anticipated opening of Marina Bay Sands more with excitement than...
AFTER three changes of ownership in seven years, the iconic Raffles Hotel looks headed for a makeover after its pending sale to a Qatar sovereign wealth fund. Qatari Diar, which is expected to assume ownership of the hotel by early next year, is looking to fund an earlier-announced extension to the hotel that envisages almost doubling the number of guest rooms. Last April, Saudi Arabian investment...
This would be part of deal that sees Qatar fund buy 40% of Fairmont Raffles Sources say the Raffles Hotel is likely to change hands - for the third time in seven years - after shareholding changes at current owner Fairmont Raffles. Toronto-based luxury hotel chain Fairmont Raffles said on Monday that Qatar's sovereign wealth fund Qatari Diar has acquired a 40 per cent stake in the group, in a US$847...
SINGAPORE'S iconic Raffles Hotel has been reportedly bought by a Qatar sovereign wealth fund for US$275 million (S$384 million). Qatari Diar - the principal real estate entity of the Qatar Investment Authority - has purchased the historic property in Beach Road from current owner Fairmont Raffles, a Toronto-based luxury hotel chain, according to an Abu Dhabi newspaper, The National. Fairmont Raffles has...
They had names like Goh's Homestay, Lee Boarding House and San Wah Hotel, and helped make Bencoolen Street a haven for backpackers in the 1970s and 1980s. But they have all closed because of a clampdown by the Urban Redevelopment Authority (URA). The rule states that boarding house permits will be given only to operators that occupy the entire building. Today, only one cheap-stay place - Hawaii Hostel -...
Hotels in Sentosa are riding on the latest wave to hit the island - the opening of Resorts World Sentosa (RWS). Some have even closed down for renovations to ride on the expected increase in visitors. Rasa Sentosa Resort has been on the island for 17 years, and had been renovated only once. It is time for a major makeover to prepare for the increased business that is likely to be generated from the buzz...