Tuan Sing Holdings Ltd said on Dec, 3 2025 that it has secured a Planning Permit from the City of Melbourne for the mixed-use redevelopment of its 121-131 Collins Street property in the city’s central business district.

The approval clears the way for works to begin early next year to transform the asset—currently home to the 550-room Grand Hyatt Melbourne and retail space—into a complex featuring a three-level luxury retail podium with flagship duplex stores and an upgraded façade along Collins and Russell Streets.

The company intends to keep the hotel and existing tenants operating during construction while incorporating adaptive-reuse and sustainability measures in the design.

Tuan Sing will finance the project with a combination of bank borrowings and internal funds and expects the completed development to lift rental rates, cash flow and the property’s valuation.