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...
Singapore Hotels
Peak Tower Corporation, which is acquiring Selegie Centre in a collective sale, is seeking approval from the Urban Redevelopment Authority (URA) for its plans to build a hotel on the site, which is presently zoned for commercial and residential use. An earlier application by Peak Tower for a proposed one block, 11-storey hotel on the site and to change the use of the site was turned down by the URA in...
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,...
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,...
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....
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...
Having initially called off the sale of its Mercure and Novotel Hotels on Wednesday, property developer Oxley Holdings announced on Thursday that it has appointed CBRE, Jones Lang LaSalle Property Consultants and JLL Hotels & Hospitality Group as its exclusive agents for the properties. The agents will be tasked with sourcing, marketing, evaluating, negotiating and securing a purchaser for the hotels on...
Claremont Hotel, a freehold eight-storey development along Serangoon Road, is back on the market for a second time with the seller eyeing offers in excess of S$70 million. The 90-room budget hotel, near the junction of Owen Road, was previously put up for sale back in July 2016 for S$90 million. The property occupies a land area of 4,838 square feet and an estimated gross floor area of 30,591 sq ft....
Yotelair, which is known for its creative cabins and smartbeds, will open its first Asian airport hotel at the newly built Jewel Changi on Apr 12. The brand is already present in five other airports, including London's Gatwick and Heathrow, Amsterdam's Schiphol, Paris' Charles de Gaulle and Istanbul. “We are tremendously excited to open our first Yotelair in Asia here in Singapore, and even more so...
State tenders for three sites closed on Tuesday, Jan 15, 2019. Based on provisional results released, a premium hotel site along Club Street in the Central Business District drew eight bids. The highest bid, from Midtown Development (which is part of the Worldwide Hotels Group that also includes Hotel 81), was S$562.2 million, which works out to S$2,148.50 per square foot per plot ratio (psf ppr). A...