Hotel Properties Secures Approval to Acquire Strata Area of Concorde Hotel & Shopping Mall

MT Newswires

06-03

Hotel Properties (SGX:H15) secured an approval from the Strata Titles Board to acquire the entire strata area of the Concorde Hotel & Shopping Mall in Singapore for SG$821 million, according to a Monday filing with the Singapore Exchange.

The completion for the acquisition is scheduled for Aug. 11.

The company currently owns 95.4% of the strata area of the property.

Shares of the property developer were up over 2% in recent trading.

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