Raffles Hotel looks set to be sold at hefty price tag

Raffles Hotel looks set to be sold at hefty price tag
 
Consortium led by banker may buy hotel and adjoining arcade for $650m
 
MYSTERY buyers are set to acquire the historic Raffles Hotel for more than treble the $200 million it sold for just three years ago.
 
The 121-year-old hotel and the adjoining shopping arcade are changing hands [...]

FRHI confirms in-principle sale of Raffles Hotel

FRHI confirms in-principle sale of Raffles Hotel
 
RAFFLES Hotel is being sold - as readers of BT were told yesterday. Under an in-principle agreement announced yesterday, Fairmont Raffles Hotels International (FRHI) will sell the iconic hotel to a consortium led by former Credit Suisse investment banker Mark Pawley.
 
‘Completion is expected to take place at the end [...]

HPL in deal to rebuild, refurbish hotels in Libya

HPL in deal to rebuild, refurbish hotels in Libya
 
Creation of JV with that country’s state pension fund manager is on cards
 
HOTEL Properties Ltd (HPL) has forged an agreement with Libya’s state pension fund manager to rebuild and refurbish hotels in the country, a deal achieved partly thanks to ‘middleman’ Philip Yeo.
 
Stephen Yeo, executive vice-president of [...]

HPL in tie-up to develop hotels in Libya

HPL in tie-up to develop hotels in Libya
 
SINGAPORE-LISTED Hotel Properties Limited (HPL) has entered into a joint venture with a Libyan state-owned company to develop hotels and tourist resorts in Libya.
 
And the first project of its partnership with the Social Security Fund Investments Company (SSFI) is a US$30 million (S$41 million) project to refurbish a [...]

Royal Peacock Hotel in Chinatown could fetch around $38m

Royal Peacock Hotel in Chinatown could fetch around $38m
 
THE Royal Peacock Hotel in Chinatown’s Keong Saik Road is likely to be sold soon - with a potential price tag of about $38 million.
 
The owners of the boutique hotel called for expressions of interest, which closed on Wednesday, after attracting at least five bidders.
 
The keen interest [...]

Ho Bee Q1 net earnings dive 62% to $26.1m

Ho Bee Q1 net earnings dive 62% to $26.1m
 
Sharp drop in property development revenue
 
HO BEE Investment yesterday reported a 62 per cent plunge in net earnings for the first quarter ended March 31, 2008, to $26.1 million, from $69.1 million in Q1 2007. Earnings per share were 3.54 cents, down from 9.37 cents the year [...]

Developers test waters with condo launches

Developers test waters with condo launches
 
Sale of Floridian, Quartet on Vanda and Parc Seabreeze have begun
 
DEVELOPERS are gingerly testing the water for residential launches this week. Far East Organization’s listed unit Orchard Parade Holdings and Wing Tai have begun the official launch of their Floridian condo in Bukit Timah, marked by the start of an [...]