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Lotus One Investment Acquires Duxton Reserve for SGD80 Million in Singapore
Lotus One Investment Pte Ltd ("Lotus One Investment"), the investment arm of the Singapore-based family office Lotus Singapore, has acquired Duxton Reserve Singapore, Autograph Collection from Singapore-based SSG Pte Ltd (“The Garcha Group”) for SGD80 million. The transaction price translates to approximately SGD1.63 million per key for the 49-key property. Situated between Maxwell and Tanjong Pagar MRT stations, the property comprises eight three-storey conservation shophouses with a built-up area of approximately 3,159 square metres, and features two food and beverage outlets. It occupies a 908-square-metre site with a 99-year lease that commenced on 28 September 1988. In 2013, The Garcha Group acquired the property for SGD50 million, at which time it was known as the Berjaya Hotel. Lotus Singapore is the family office established by Mr Chandra P. Khetan, son of Mr Mohan G. Khetan, who owns the Nepal-based Khetan Group.
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Taiwanese Tycoon The Song Brothers Acquire a 108-key Serviced Apartment in Jakarta, Indonesia
Taiwanese tycoons Michael Song and Song Da Hua, founders of HKI Group (“HKI”), have expanded their real estate portfolio with the acquisition of a 108-key serviced apartment property in Jakarta. The transaction marks a significant addition to HKI Group’s investments in Southeast Asia. While the property name and sale price remain undisclosed, the property is understood to be the Fraser Residence Sudirman Jakarta. Located in Jakarta’s prestigious Setiabudi district, the property features a range of amenities, including an Olympic-sized outdoor swimming pool, a gym, sauna and steam rooms, tennis, squash and basketball courts, and a children's playground. The residence is strategically situated approximately 45 minutes by car from Soekarno-Hatta International Airport, and 5-minute away from Setiabudi Astra MRT station. The Song Family has founded their textile business in Indonesia and has been active in the Taiwanese real estate market in recent years. Currently, HKI’s real estate portfolio comprises commercial assets such as the World Financial Center Building and residential properties such as Ho-Li Residence, both located in Taipei.
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Sydney Roosters Acquires UKO Paddington Co-Living Accommodation Sydney, Australia
Australia-based Eastern Suburbs District Rugby League Football Club Ltd (“Sydney Roosters”) has acquired UKO Paddington for an undisclosed sum. Located along Sydney’s Moore Park Road, the fully renovated UKO Paddington enjoys a prime position directly opposite Allianz Stadium and the Sporting Club of Sydney. The property is approximately a 20-minute drive from Sydney Kingsford Smith International Airport and a 6-minute drive from Sydney’s Central Train Station. The 26-key accommodation offers upmarket co-living amenities, including both indoor and outdoor communal spaces, laundry facilities, a game room, and a co-working space. The acquisition forms part of the Sydney Roosters’ long-term strategic plan to future-proof the club’s financial health through targeted property investments.
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UOL and Hilton to Launch Asia Pacific’s First NoMad Hotel in Singapore by 2027
Singapore-based UOL Group Limited (“UOL”) has announced a strategic collaboration with US-based Hilton Worldwide Holdings Inc. (“Hilton”) to introduce the first NoMad-branded hotel in the Asia-Pacific region. The 173-key luxury hotel will be located on the former Faber House site on Orchard Road and is scheduled to open in early 2027. Hilton will manage the property under the NoMad brand, which emphasises elevated lifestyle hospitality, culinary excellence, and curated cultural experiences. The redevelopment, part of the Urban Redevelopment Authority’s Strategic Development Initiative (SDI) scheme, will transform the existing eight-storey commercial building into a 19-storey mixed-use development that includes commercial and retail space. Designed by Singapore-based WOHA Architects Pte. Ltd. (“WOHA”), the hotel will feature a distinctive biophilic design, highlighted by a 15-storey cascading waterfall, a vertical “cliff-like” garden façade, and a sky terrace lobby on the fifth floor. Key amenities will include an infinity pool overlooking Orchard Road, a rooftop bar and restaurant, and a public space on level three intended for art and design activations, while also offering future pedestrian connectivity to neighbouring developments.
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Ascott and HSL Unveil Mixed-Use Development in Sarawak, Malaysia
Neat Plan Sdn Bhd, a wholly owned subsidiary of Malaysia-based Hock Seng Lee Berhad (“HSL”), together with The Ascott Limited (“Ascott”) – the lodging business unit wholly owned by Singapore-based CapitaLand Investment Ltd. – is jointly undertaking the development of a mixed-use project in Kuching, Sarawak, Malaysia. Occupying a 3,237 square-metre site, the project will feature two 28-storey towers. One of the towers is set to become a 220-key Citadines Langit Kuching serviced residence, which will be managed and operated by Ascott. In addition to the serviced residences, the project will also include 64-unit luxury condominium and a three-storey public plaza with retail and commercial spaces. Scheduled for completion by 2029, the property will include clubhouses to be shared with residents of the adjoining tower.
| | Absolute Share Price Performance, as of 16 May 2025 | | | Closing Share Price | 16 May 2025 | 9 May 2025 | % Change | | | | Australia Stock Exchange (ASX) | | | | Elanor Investors Group | 0.85 | 0.82 | 3.7%
| | Event Hospitality & Entertainment Ltd | 15.30 | 14.85 | 3.0%
| | General Property Group | 4.78 | 4.72 | 1.3%
| | Mirvac Group | 2.26 | 2.28 | -0.7%
| | | | Bangkok Stock Exchange (THB) | | | | Central Plaza Hotel Public Co Ltd | 21.00 | 22.40 | -6.2%
| | Dusit Thani Public Co Ltd | 7.55 | 7.65 | -1.3%
| | The Erawan Group Public Co Ltd | 2.04 | 2.26 | -9.7%
| | Grande Asset Hotels & Property Public Co Ltd | 0.04 | 0.05 | -20.0%
| | Laguna Resorts & Hotel Public Co Ltd | 37.50 | 37.00 | 1.4%
| | Minor International Public Co Ltd | 24.40 | 24.40 | 0.0%
| | S Hotels and Resorts Public Company Limited | 1.59 | 1.66 | -4.2%
| | | | China Shanghai Stock Exchange (RMB) | | | | Jinling Hotel Corporation Ltd | 7.25 | 6.99 | 3.7%
| | | | China Shenzhen Stock Exchange (RMB) | | | | Huatian Hotel Group Co.,Ltd. | 3.18 | 3.17 | 0.3%
| | Guangzhou Lingnan Group Holdings Company Limited | 11.94 | 11.93 | 0.1%
| | | | Huazhu Group Limited | 37.47 | 37.95 | -1.3%
| | | | Hong Kong Stock Exchange (HK$) | | | | Miramar Hotel & Investment Co Ltd | 9.76 | 9.90 | -1.4%
| | Regal Hotels International Holdings Ltd | 0.47 | 0.51 | -8.8%
| | Sino Hotels Holdings Ltd | 1.36 | 1.35 | 0.7%
| | The Hong Kong & Shanghai Hotels Ltd | 5.46 | 5.46 | 0.0%
| | Shangri-La Asia Limited | 4.32 | 4.60 | -6.1%
| | | | National Stock Exchange (INR) | | | | Chalet Hotels Ltd | 902.00 | 869.95 | 3.7%
| | IHCL (Taj Hotels, Resorts & Palaces) | 770.00 | 769.15 | 0.1%
| | EIH (Oberoi Hotels & Resorts) | 376.55 | 366.90 | 2.6%
| | Hotel Leela Ventures | 13.99 | 12.60 | 11.0%
| | Lemon Tree Hotels Ltd | 141.03 | 138.03 | 2.2%
| | Mahindra Holiday & Resorts | 356.85 | 330.80 | 7.9%
| | Royal Orchid Hotels | 387.95 | 364.65 | 6.4%
| | SAMHI Hotels Limited | 187.00 | 178.72 | 4.6%
| | | | The Shilla | 44000.00 | 43600.00 | 0.9%
| | | | Singapore Stock Exchange (S$) | | | | Amara Holdings Ltd | 0.89 | 0.89 | 0.0%
| | ARA Htrust (US$) | 0.23 | 0.21 | 9.8%
| | Ascott Residence Trust | 0.86 | 0.86 | 0.6%
| | Banyan Tree Holdings Limited | 0.35 | 0.34 | 4.5%
| | CDL Hospitality Trusts | 0.78 | 0.79 | -1.3%
| | Far East Hospitality Trust | 0.57 | 0.56 | 1.8%
| | Frasers Hospitality Trust | 0.69 | 0.67 | 3.8%
| | Hotel Grand Central Ltd | 0.69 | 0.72 | -3.5%
| | Hotel Properties Ltd | 4.44 | 3.70 | 20.0%
| | Mandarin Oriental International Ltd (US$) | 1.85 | 1.82 | 1.6%
| | Stamford Land Corporation Ltd | 0.37 | 0.36 | 2.8%
| | | | Taiwan Stock Exchange (NT$) | | | | Formosa International Hotels Corporation | 198.50 | 197.50 | 0.5%
| | The Ambassador Hotel, Ltd | 50.00 | 49.80 | 0.4%
| | | | Tokyo Stock Exchange (JPY) | | | | Japan Hotel REIT Investment Corp. | 73100.00 | 72900.00 | 0.3%
| | Imperial Hotel, Ltd | 910.00 | 901.00 | 1.0%
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