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HPL unit acquires Concorde Hotel & Shopping Mall

The property was sold for $821m.

Hotel Properties Limited (HPL) unit, Luxury Peak, has received approval from the Strata Titles Board to acquire the entire strata area of the Concorde Hotel & Shopping Mall in Singapore for $821m.

The acquisition is scheduled for completion on 11 August.

HPL, through its five wholly owned subsidiaries, owns approximately 95.4% of the strata area of the property.

The acquisition of the remaining strata area for approximately $74.84m is not expected to have any material impact on HPL’s earnings for FY2024.

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