URA calls up for a hotel site at Gopeng
The URA or urban redevelopment authority had just assumed an application form from one of the best developers of the state at Gopeng Street for a hotel construction for the purpose of promotion of sale through public tender.
Reserve List system was used on 2008, 21st February to go for making land parcel available.
URA has alleged that bidding has gone in the land parcel for a price of more or less than $94.05 million.
The land parcel is situated in the area of Tanjong pagar, which is a centre of several edifices serving the tourists and community in the best way.
The hotel site is located in an area of 2311 square meters, and can function on a maximum allowed floor area of around 19416 meter squares. The building height can go up to 30 storeys with a lease period of 99 years.
URA has announced to launch the tender for the site within two weeks and later announce the correct date. The maximum tender period for land parcel is around eight weeks or nearly two months.
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Hotel site for sale in Tanjong Pagar area »« Intercon Group To Manage RB Capital Hotel
Intercon Group To Manage RB Capital Hotel
Intercontinental Hotels Group (IHG) has been awarded the contract to manage RB Capital Hotel. This was announced by Mr. Kishin RK the leader of RB capital Hotels. IHG was chosen to run the hotel because its Holiday Inn Express has more than 2100 hotels worldwide. Holiday Inn Express is now the fastest growing chain in mid-tier select service hotel category.
The hotel will be built at the corner of Clemenceau Avenue and Havelock Road. It will have between 460 and 500 rooms. It will be the biggest holiday inn express in South-East Asia by bed capacity. It will have premium design and décor and all hotel facilities including swimming-pool, a gym and dining facilities. The Great Room will be used by guests to relax, meet and dine. RSP Architects Planners & Engineers designed the building and are supervising its construction. They have reputable and experienced architects and engineers who designed and supervised construction of great buildings including St Regis Singapore, ION Orchard and EFG Bank Building. Interior decoration will be done by Wilson Associates who did the decors for St Regis Singapore and Four Seasons Hong Kong.
The cost of the hotel is estimated at more than $300 million. The land for the hotel was purchased at $101.1 million equivalent to $813 per square foot per plot ratio. This was the highest price for any land sales ever recorded. Tendering for the land was closed in August 2010. RB Capital Hotel was given a lease-hold 99 year on the land.
The opening of the hotel is scheduled for the second half of 2013. Another hotel owned by Hotel Inn Express will open in 2013 in Singapore. The hotel is being constructed at the Wellington building site near Heeren. It will have 220 rooms and the developer is Chee Swee Cheng Group of Companies. Mr Jan Smits, the managing director of IHG Asia Australasia is of the opinion that Holiday Inn Express is capable of constructing more hotels. He said that Singapore hotel market has a good rating in the market due to the renewed vigorous marketing by Singapore tourism board. The number of visitors arriving in the country monthly is now very high. The demand for hotels will therefore increase.
Holiday Inn Express will put up two more hotels in the near future. The names of the hotels will be announced soon. They will be located in areas with the highest appeal for tourists. The hotel to be built at Clemenceau/Havelock Road is meant to attract corporate and leisure travelers who transit in Singapore. Such travelers require accommodation close to the CBD. They can also access nearby entertainment facilities at Boat Quay, Robertson Quay and Clarke Quay. The hotel on the Wellington site is aimed to attract leisure guests and retail shoppers. That is why it was located at the Orchard Road Belt.
Mr. Kishin announced that RB Capital Hotels has already purchased 4 sites on which they plan to construct hotels. The sites are located in Asia and tendering for the contractors will be announced within the next 2 years.
Buy Sell Rent invest In Singapore Property Real Estate
Mindy Yong
( +65 ) 91002985
Mindy@MindyYong.com
www.hotvictory.com
www.property-elite.com
URA calls up for a hotel site at Gopeng »« Secondary Home Sales Shrink Under Big Chill
