Hongkong Land is reportedly in discussions with Ong Beng Seng’s Hotel Properties Ltd. (HPL) to acquire majority stakes in three adjacent Orchard Road properties: the voco Orchard hotel, Forum shopping mall and HPL House. The properties are in Singapore’s premier shopping district and are earmarked for redevelopment.
If finalized, the deal would mark a significant investment for Hongkong Land and expand its presence in Singapore’s prime commercial and retail property market. HPL has received approval to redevelop the assets into a large-scale mixed-use project, offering the partners a major development opportunity.