Sydney’s Sir Stamford Hotel has been acquired for A$210 million
The American company JDH Capital has acquired the Sir Stamford at Circular Quay Hotel in Sydney from the Singaporean company Stamford Land Corporation Ltd (“Stamford”) for 210 million Australian dollars. The 10-story hotel, located next to the Sydney Opera House and the Royal Botanic Gardens, has 105 rooms including 15 suites, two food and drink outlets, a meeting room, a swimming pool outdoor heated pool and terrace, fitness center and sauna. JDH Capital will redevelop the site into a luxury residential project, capitalizing on the Macquarie Street location and views. Stamford will now operate five hotels in Australia and one in New Zealand after the sale.
UDA Holdings Bhd has acquired a hotel in the downtown development of Bukit Bintang for MYR 295 million
Malaysia-based UDA Holdings Bhd (“UDA”) has acquired a hotel building in the downtown Bukit Bintang (“BBCC”) development in Kuala Lumpur for MYR 295 million. The hotel component of BBCC is expected to be completed and handed over to UDA by the second half of 2024. The 450-key property will include one-, two- and three-bedroom apartments. The hotel is located above the BBCC Entertainment Centre, offering easy access to the Zepp Concert Hall, Golden Screen Cinemas and the Grand Bazaar. UDA Chairman Datuk Norliza Abdul Rahim said the transaction will boost UDA’s hotel business, AnCasa Hotels and Resort.
Habitat Hotels and Apartments has acquired the DeBrett Hotel in central Auckland
New Zealand-based Habitat Hotels and Apartments (“HHA”) has announced the purchase of the DeBrett Auckland Hotel for an undisclosed amount. Located on the High Street, this 25-key hotel is close to Britomart, Lower Queen Street and the city’s waterfront. The property was built almost two centuries ago and opened as the first hotel in Auckland. The historic building currently offers an exceptional guest experience in an art deco environment. It has three food and beverage outlets and four meeting spaces. This property is the first property in the HHA portfolio, and it will be rebranded as Ohtel under the New Zealand-based Village Accommodation Group.
Singapore resumes construction work on Changi Airport Terminal 5
Singapore is resuming construction work on Changi Airport’s Terminal 5, after a two-year pause due to the COVID-19 pandemic. Terminal 5 will be located in the 1,080-hectare Changi East development, and construction is expected to begin in approximately two years for the terminal to be operational in the mid-2030s. Once completed, Changi Airport Terminal 5 will serve 50 million passengers a year, more than Terminals 1 and 3 combined. The new terminal will also be greener and more energy efficient, with autonomous vehicles and robotics to support cargo transport and baggage handling. The Changi East urban district will be developed adjacent to Terminal 5, creating more jobs and opportunities for Singaporeans.
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