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SLB and Weave Living jointly acquire hotel in Jalan Sultan for $74.8 million

Chloe Lim
Chloe Lim3/11/2022 06:38 PM GMT+08  • 1 min read
SLB and Weave Living jointly acquire hotel in Jalan Sultan for $74.8 million
SLB will jointly acquire the 17 shophouses currently operating as Hotel Clover in Jalan Sultan for $74.8 million with Weave Living
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SLB Development Ltd. announced today that in partnership with Weave Living, it will jointly acquire the 17 shophouses currently operating as Hotel Clover in Jalan Sultan for $74.8 million. Weave Living, with significant majority ownership, will be responsible for the redesigning and re-positioning of the hotel into serviced apartments, and for the day-to-day operations and management of this asset.

The 2-storey property at No. 17 to 33 Jalan Sultan has a total land area of 15,201 square feet and a total gross floor area of 35,000 square feet. This property comprising of 17 adjourning shophouses has a 99-year leasehold tenure starting April 2008.

“We are pleased to diversify our income stream into the ‘living sectors’ segment through our partnership with Weave Living,” says Matthew Ong, Executive Director and CEO of SLB.

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