Tag Archives: Hotel

URA releases hotel site at Havelock Road

Posted on 28 Jun 2013 | Comments Off on URA releases hotel site at Havelock Road

The government has released a hotel site at Havelock Road for application from interested developers.

In a statement, the Urban Redevelopment Authority (URA) said it has released the detailed sales conditions for the land parcel, which consists of three conserved warehouse buildings fronting the Singapore River.

The plot is on the Reserve List for the first half 2013 Government Land Sales (GLS) Programme.

URA expects the conserved buildings to be developed into a boutique hotel.

Unlike the usual hotel land parcels, the plot has a land tenure of 60 years, compared to the usual 99 years.

With a land area of about 1,536.2 square metres, the hotel site can generate a maximum permissible gross floor area of 2,145 sqm, said URA.

Nicholas Mak, executive director of SLP International Property, said the site could attract top bids ranging from S$18.5 million to S$20 million if it is launched for sale on Thursday.

As the total investment amount is not excessive, he expects several small hotel developers and operators to put in their bids.

But he warned that the warehouse buildings would not offer much economies of scale, given that only about 35 hotel rooms in total could be developed.

Source – URA – 28 Jun 2013

Comments Off on URA releases hotel site at Havelock Road

Posted in Land Sales

Tagged , , , , , , , ,

Frasers Hospitality launches hotel Capri

Posted on 10 May 2012 | Comments Off on Frasers Hospitality launches hotel Capri

Frasers Hospitality is entering the hotel industry with the launch of a new concept called Capri by Fraser, which will provide short term hotel accommodation with the trappings of a full serviced residence.

To be rolled out across Asia, the S$124 million Capri by Fraser will be launched in Singapore at Changi Business Park in the third quarter of this year.

Adding to its portfolio of serviced residences in 39 cities worldwide, Capri by Fraser will also be launched in Ho Chi Minh in Vietnam later in December and in Kuala Lumpur in 2013.

The new brand aims to capture young professionals who make frequent short regional trips, usually between one to two weeks.

It also offers high-speed and free Wi-Fi access as well as a menu of intelligent services.

Despite the uncertain economic outlook, the hospitality chain believes growth in Asia is still robust.

Choe Peng Sum, CEO, Frasers Hospitality, said: “There is stability in the serviced residence apartment. There is a reason for that. And that’s because many of the people who stay in the serviced apartments are in corporate businesses and their businesses are already in that country. So it’s not likely they are going to pack up and go unless of course, the recession and the financial crisis goes on for an extended basis.”

Source: CNA -9 May 2012

Comments Off on Frasers Hospitality launches hotel Capri

Posted in General, Service Apartments

Tagged , , , ,