…racy that corrupted the approval of city real estate projects. Raymond She Wah Chan, 67, was found guilty of all 12 felony counts he faced, including accepting bribes to advise and pressure city officials in favour of Shenzhen Hazens’ Luxe Hotel redevelopment project. Read more>> Bank of Korea Warns of Economic Hit on Property Slump, Credit Woes The Bank of Korea warned Thursday that a further slump in the real estate sector would undermine broade…
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Hotel Project on Singapore’s Orchard Road on Market for $143M
…ased fund manager Lucrum Capital, which had acquired what was then the Tai Wah Building in 2017 for S$84.9 million. “Freehold hotels in the Orchard Road submarket are rarely available for sale and have always been regarded as generational trophy assets that bestow great prestige and privilege,” said Michael Tay, CBRE’s head of capital markets for Singapore. “Furthermore, the majority of hotels in Orchard are sizable with more than 200 keys, making…
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