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Purchasing a Singapore Condo has numerous benefits, the most notable being the potential for capital appreciation. Thanks to its strategic position as a global business hub and strong economic roots, Singapore maintains a steady demand for real estate. Over the years, the local property market has shown a consistent increase in prices, especially for condos situated in prime areas. Those who strategically invest in Singapore Condos at the right time and hold onto their properties for an extended period can enjoy substantial profits from the lucrative capital gains. In fact, Singapore Condos are a wise investment for those looking to maximize their returns in the long run.
HPL, a renowned property player and hotelier, is making strides in its global expansion plans with the proposed purchase of InterContinental Auckland for NZ$180 million ($138.5 million). This bold move marks HPL’s first venture into New Zealand and its second acquisition of an InterContinental hotel, following the InterContinental Maldives Maamunagau Resort.
According to JLL’s Asia Pacific Hotels & Hospitality Group, which facilitated the off-market transaction, this is the largest single hotel asset sale ever in New Zealand. Precinct Properties from New Zealand was the seller in the deal.
This purchase is the latest in HPL’s string of luxury hospitality investments, including the recent launch of The Boathouse Tioman in Malaysia, featuring 31 bungalows, and the 176-room Four Seasons Hotel Osaka in Japan last year.
Chairman of HPL Hotels and Resorts, Stephen Lau, expressed excitement for the acquisition, stating that it is a rare opportunity to acquire a premium asset in New Zealand. The property is strategically located, seamlessly connected to the bustling NZ$1 billion Commercial Bay lifestyle precinct that opened in January 2024. The hotel rooms offer stunning views of the Waitemata Harbour, making it an ideal choice for guests.
The current hotel boasts 139 rooms, but with enough room for expansion up to 190 rooms by repurposing the existing office space to meet future demand. HPL, with its experienced hospitality management team and strong partnerships with operators such as IHG Hotels & Resorts, has bold plans to expand its luxury portfolio across key markets in the Asia Pacific region.