Hongkong Land Holdings Ltd. is in talks with Hotel Properties Ltd. to acquire a majority stake in three Orchard Road buildings, according to sources familiar with the matter. The assets include hotel voco Orchard, shopping mall Forum, and HPL House, valued over S$2 billion ($1.6 billion). Discussions remain early-stage with no guarantee of a deal.
The potential transaction offers respite for Hotel Properties, which has faced challenges after co-founder Ong Beng Seng's conviction and medical issues. The company has been seeking to reduce stakes in voco hotel and Forum mall, now including HPL House after other deals fell through. Hotel Properties received 2023 government approval for mixed redevelopment with hotel, retail, office, and residential components, though partners have shown concerns about theater profitability and capital requirements.
The firm reported a net loss of S$39.1 million in first half 2026, with shares down 6% over the past year.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing