CDL Acquires Hotel Osaka Shinsaibashi For JPY 8.5 Billion

City Developments Limited (CDL) acquires the Bespoke Hotel Osaka Shinsaibashi for JPY 8.5 billion, or JPY 33.2 million per key, through its indirect wholly-owned subsidiary M&C Sakura TMK. The 256-key freehold lifestyle hotel is in Shinsaibashi, Osaka’s popular commercial district and tourist hotspot. The hotel is located within a 5-minute walking distance to Midosuji Avenue, hosting international luxury brands, and the Parco and Daimaru department stores. The property sits on a land area of 938 sqm and spanning 5,585 sqm in Gross Floor Area. CDL Executive Chairman, Mr Kwek Leng Beng states the latest investment is aligned with the Group’s strategy to grow and diversify their global real estate portfolio. This acquisition marks CDL’s third hotel acquisition in 2023, following acquisitions of Nine Tree Premier Hotel Myeongdong II and Sofitel Brisbane Central. Osaka’s tourism market is set to grow in the coming years, with the city set to host the World Expo in 2025 with plans to attract 30 million visitors. 

Ong Beng Seng’s HPL Gets Provisional Nod For Orchard Road Redevelopment In Singapore

Hotel Properties Ltd, the builder controlled by billionaire Ong Beng Seng, has secured provisional permission from Singapore’s Urban Redevelopment Authority to transform a set of Orchard Road buildings into a mixed-use project with hotel, retail, office and residential components. The total approved gross floor area for redevelopment is 114,153 square meters (over 1.2 million square feet) across 14,027 square meters of freehold and 999-year leasehold land currently occupied by three of the company’s properties: The Forum mall, the Voco Orchard Singapore hotel and the HPL House commercial block. The approval under the URA’s Strategic Development Incentive remains subject to terms and conditions. The approval calls for a comprehensive redevelopment comprising two tower buildings of 64 and 43 stories on a six-storey podium with a rooftop garden, a performance theatre and a basement carpark, with a separate 29-storey tower erected over the basement carpark. HPL envisions the development to be a focal point in the northwest end of Orchard Road and a gateway destination that interconnects neighboring developments. The redevelopment will rejuvenate as a vibrant important segment of Orchard Road.

 Treehouse Hotel Branches Out To Adelaide’s Market Square

Australian property developer ICD Property has partnered with global SH Hotels & Resorts to introduce Treehouse Hotels to Adelaide's Market Square development. The AUD400 million project aims to enhance Market Square's status as a premier destination. The Treehouse Hotel will offer a unique luxury experience, with a restaurant, bar, café, event spaces, and fitness facilities. The collaboration reflects a commitment to exceptional guest experiences and environmental sustainability. The 248-room hotel is set to complement the mixed-use Market Square development, with completion phases anticipated from 2025 to 2026. CEO Raul Leal sees the Treehouse Hotel capturing a whimsical essence, appealing to diverse audiences. The project aligns with Adelaide's growth and economic vitality goals. 

TFE Lands Hotel In New Melbourne Skyscraper

Australian-based TFE Hotels has secured a AUD150 million project in Melbourne, Australia, with a boutique hotel named Hannah St. Hotel. It will be situated within the Queensbridge Building skyscraper's 10 levels, part of the Southbank precinct. Developed by Time & Place and MaxCap Group, the project includes a 188-room hotel featuring a neighbourhood bar, restaurant, and rooftop bar/events space. The Queensbridge Building will also house 367 residential apartments, exclusive gardens, a lap pool, wellness studio, gym, and more. The hotel aims to integrate art, culture, and design, becoming a landmark in the evolving Southbank neighborhood. The completion is expected in Q3 2025. TFE Hotels also has other Melbourne developments in its pipeline.

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