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Temasek-Khazanah JV to sell Andaz Singapore for $475 mil

Tan Xue Ying
Tan Xue Ying10/9/2019 03:40 PM GMT+08  • 2 min read
Temasek-Khazanah JV to sell Andaz Singapore for $475 mil
KUALA LUMPUR (Oct 9): M+S, a 60:40 joint venture between Khazanah Nasional and Temasek Holdings, is selling its wholly-owned subsidiary, Ophir-Rochor Hotel (ORH), to property developer Hoi Hup Realty for $475 million (RM1.44 billion) or $1.39 million per
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KUALA LUMPUR (Oct 9): M+S, a 60:40 joint venture between Khazanah Nasional and Temasek Holdings, is selling its wholly-owned subsidiary, Ophir-Rochor Hotel (ORH), to property developer Hoi Hup Realty for $475 million (RM1.44 billion) or $1.39 million per key.

The proposed transaction marks the highest price ever achieved for a stand-alone hotel transaction in Singapore, and the third highest price achieved this year in Asia.

ORH is the developer and owner of Andaz Singapore - a five-star luxury lifestyle hotel by Hyatt which opened its doors in 2017 and is the first Andaz hotel in Southeast Asia.

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