To build or buy? Investors eye hospitality assets as tourism, scarce supply prop up sector
Hospitality transactions in the first nine months of the year totalled S$4.2 billion, according to data from Colliers International
Singapore
WITH rising tourist arrivals and limited stock, investor appetite for Singapore hospitality assets is heating up, with hospitality deals in the first nine months of the year totalling S$4.2 billion, according to data from Colliers International.
While a sizeable portion of deals was from existing hotels, sites zoned for hotel use have also seen some activity - with high sale prices and asking prices.
Darby Park Executive Suites, which was re-zoned for hotel use this year, is understood to have been sold for S$160 million, raking in a difference of S$67 million for the seller, or over 70 per cent.
Other development sites, such as a Killiney Road freehold…
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