* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, July 27, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

    Cote de Pablo reveals how Michael Weatherly used his soap opera roots to put her at ease in “NCIS” love scene – yahoo.com

    Cote de Pablo Reveals How Michael Weatherly’s Soap Opera Background Made Their “NCIS” Love Scene Easier

    City of Pelham announces entertainment district plans for former Oak Mountain Amphitheatre site – WVTM

    Pelham Unveils Exciting New Entertainment District Plans for Former Oak Mountain Amphitheatre Site

    Black Box Players presents ‘The Three Musketeers’ – CBS 19 News

    Experience the Adventure: Black Box Players Bring ‘The Three Musketeers’ to Life!

    AP Entertainment SummaryBrief at 1:51 p.m. EDT – Channel 3000

    Entertainment Highlights: Key Updates You Can’t Miss

    ‘Devil Wears Prada 2’ casts Anne Hathaway’s love interest replacing Adrian Grenier’s Nate – Entertainment Weekly

    Devil Wears Prada 2′ Casts New Love Interest for Anne Hathaway, Replacing Adrian Grenier’s Nate

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    WhoFi: New surveillance technology can track people by how they disrupt Wi-Fi signals – Tech Xplore

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Google Cloud Announced as a Key Technology Partner for Odoo Connect 2025 in San Francisco – GlobeNewswire

    Behind the Screens: The Impact of Technology on Real Estate – TRREB

    Behind the Screens: How Technology is Transforming the Future of Real Estate

    Sustainserv and Palau Announce Technology Partnership to Leverage Innovative AI Platform to Advance Sustainability Reporting – Business Wire

    Sustainserv and Palau Team Up to Transform Sustainability Reporting with Breakthrough AI Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Pan Pacific Selling Little India Hotel to Worldwide for $389M in Singapore Record Deal

July 5, 2023
in Technology
Pan Pacific Selling Little India Hotel to Worldwide for $389M in Singapore Record Deal
Share on FacebookShare on Twitter

ParkRoyal on Kitchener

Worldwide is adding the ParkRoyal on Kitchener to its Singapore portfolio

Pan Pacific Hotels Group is selling the Parkroyal on Kitchener Road hotel in Singapore’s Little India neighbourhood for S$525 million ($389 million) in the city-state’s largest hospitality deal ever.

The hospitality arm of Singapore property conglomerate UOL Group said in a regulatory filing late Tuesday that it has entered into a sale and purchase agreement with Midtown Properties, a holding company, to sell the 542-key hotel at 181 Kitchener Road at a 24 percent premium to its book value of S$423 million as of end-2022.

JLL - Equity Advisory banner

Mingtiandi understands that Midtown is a subsidiary of local budget accommodation conglomerate Worldwide Hotels, which started out as a “love hotel” operator and now owns and runs 38 properties across the city-state under six brands including V Hotel and Hotel 81.

Should the parties follow through on the agreement, the Kitchener Road deal will mark the largest single-asset hotel transaction in Singapore’s history and the second biggest in Asia Pacific this year, according to JLL, which brokered the deal. Regional law practice Rajah & Tann Asia (Singapore) acted as legal advisor.

Big Exit in Little India

Pan Pacific is letting go of Parkroyal on Kitchener Road at a price equivalent to S$968,635 per room for the asset located near the Serangoon Road and Farrer Park MRT stations, the latter of which links it directly to the City Square Mall located across the street.

Worldwide Hotels boss Choo Chong Ngen

Worldwide Hotels boss Choo Chong Ngen

Built in the 1980s with 21 floors, the four-star hotel is a few steps away from the Mustafa Centre shopping mall and will mark an asset of a larger scale and higher amenity level compared to the rest of Worldwide’s portfolio, while allowing Pan Pacific to sell off an aging property from its mid-market brand.

“The proposed disposal provides a good opportunity for the group to unlock the value of its investment in PKH at an attractive price, and is part of the group’s reconstitution of its overall property portfolio,” UOL said in the regulatory filing.

With a value of S$83 million on UOL’s books, the group expects to record a S$446.2 million gain from the transaction, which is set to close by 31 October.

Industry sources suggest that Worldwide may opt to operate the hotel outside of its existing stable of brands, which include the Hotel Boss, Hotel Mi, Value Hotel and Venue Hotel in addition to V Hotel and Hotel 81.

Budget Operator Ramps Up

Both Midtown and Worldwide are controlled by the family of Singaporean hotel tycoon Choo Chong Ngen, who started in the textile business before launching his first budget hotel chain in the Geylang red light district in 1995. Choo has since expanded a property empire which made him the 16th richest man in Singapore last year based on Forbes’ rich list.

Outside of Singapore, Worldwide lists nine properties on its website, including the 177-key Oakwood Studios Sukhumvit Bangkok, which it purchased last December, and two other boutique hotels in Thailand; two each in Malaysia and Australia; one in Osaka and another in Seoul.

Worldwide did not issue a statement on the transaction.

“This deal underscores the enduring appeal of Singapore as a safe haven investment destination amidst global macroeconomic uncertainty and its status of one of the most attractive long-term hotel markets globally,” said Nihat Ercan, chief executive officer for Asia Pacific at JLL Hotels and Hospitality Group.

Landmark Sale

With interest rates crimping capital flows, the Singapore hotel market has been dominated over the past year by small- to mid-sized acquisitions for conversion purposes.

In September, local investor LHN Group purchased a pair of boutique hotels for S$36.4 million and has since been converting both the Kampong @ Arab Street hostel in Bugis district and the Pasir Panjang Inn into co-living properties.

PropertyGuru - Asia Property Award, China Banner 780

Earlier in 2022, Hong Kong-based rental housing operator Weave Living led the S$75 million acquisition of Hotel Clover 33 Jalan Sultan through a joint venture with local builder SLB Development. In March that property was reopened as a 65-unit rental apartment location.

In May last year, Vietnam-based Viva Land set a national record price of S$1.8 million per room for the 134-room So/ Singapore hotel on Robinson Road (since renamed as the Hotel Telegraph) from local builder Royal Group.

The five-star hotel was quickly put back on the market for just S$200 million in January as the company, which also has links to a Singaporean entity of the same name, scrambles to dispose of its assets overseas following the arrest of its founder Truong My Lan last October on fraud allegations.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/finance/pan-pacific-selling-singapore-parkroyal-to-worldwide/

Tags: PacificSELLINGtechnology
Previous Post

Hillhouse Identified as Buyer of $232M ESR-Logos REIT Singapore Portfolio

Next Post

How to Differentiate Between Edge, Cloud, and 5G

Clinch County Schools prepare for students’ return with new policies, technology – WALB

Clinch County Schools Prepare for Students’ Return with Exciting New Policies and Cutting-Edge Technology

July 27, 2025
Highlights: Xfinity Series at Indy on The CW – NBC Sports

Unforgettable Thrills Ignite the Xfinity Series at Indy

July 27, 2025
Yellowstone aspen showing signs of recovery following 1995 reintroduction of wolves to park – Oregon State University

Yellowstone Aspen Thriving Again Years After Wolves Were Reintroduced

July 26, 2025
CMC trustees approve new biological science bachelor’s degree – KUNC

CMC Trustees Approve Exciting New Bachelor’s Degree in Biological Sciences

July 26, 2025
By cutting science, the Defense Department is eating its seed corn – Defense News

Cutting Science Funding: How the Defense Department Is Jeopardizing Tomorrow’s Innovation

July 26, 2025
Opinion | Lifestyle Interventions Should Not be Replaced by GLP-1s – MedPage Today

Why Lifestyle Changes Must Stay the Cornerstone-Not GLP-1s

July 26, 2025
World’s most premature baby celebrates first birthday – The Guardian

World’s most premature baby celebrates first birthday – The Guardian

July 26, 2025
Idaho’s first geological engineering degree to power workforce, economy – Bonner County Daily Bee

Idaho Launches Its First Geological Engineering Degree to Boost Workforce and Drive Economic Growth

July 26, 2025
Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

July 26, 2025

How do the microplastics in our bodies affect our health? – BBC

July 26, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (740)
  • Economy (764)
  • Entertainment (21,645)
  • General (16,124)
  • Health (9,802)
  • Lifestyle (772)
  • News (22,149)
  • People (766)
  • Politics (773)
  • Science (15,979)
  • Sports (21,262)
  • Technology (15,746)
  • World (747)

Recent News

Clinch County Schools prepare for students’ return with new policies, technology – WALB

Clinch County Schools Prepare for Students’ Return with Exciting New Policies and Cutting-Edge Technology

July 27, 2025
Highlights: Xfinity Series at Indy on The CW – NBC Sports

Unforgettable Thrills Ignite the Xfinity Series at Indy

July 27, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version