SINGAPORE - HH Properties Pte Ltd, a member of the Hiap Hoe Group, has announced the completion of its first hotel-cum-commercial development off Balestier Road.
Spanning 190,000 square feet, the $300 million integrated development in Zhongshan Park comprises a shopping mall, a commercial tower and two independently owned hotels managed by the Wyndham Hotel Group under its Days Inn and Ramada brands.
The three-star Days Hotel Singapore at Zhongshan Park opened its doors last December; the four-star Ramada Singapore at Zhongshan Park is to open on May 18.
The two hotels offer close to 800 rooms.
HH Properties' general manager Charlotte Tan expressed confidence that the two hotels will thrive - despite there being other hotels in the Balestier area - because they cater to a "different" target market.
Tony Cousens, general manager of the two hotels, said they offer upscale, comfortable accommodation for value-conscious business and leisure travellers.
Non-discounted room rates at Days start at $145; those at Ramada will be priced just below $200.
Guests at Ramada will have access to the new 50,000-sq-ft Zhongshan Mall, where the already-open anchor tenant FairPrice Finest takes up 27,000 sq ft of retail space.
Other tenants in the mall include lifestyle and dining outlets such as Guardian, BreadTalk and Crystal Jade Steamboat Restaurant, which will progressively open by June.
At a media preview yesterday, HH Properties' Ms Tan said Hiap Hoe's property development arm was "definitely" looking into building more hotels.
She told The Business Times that HH Properties is eyeing Jurong as a potential site for its next hotel development.
In 2008, the Urban Redevelopment Authority announced its plan to oversee the addition of 2,800 hotel rooms to the Jurong Lake District to transform the area into a top commercial hub in the next decade.
At the same time, Hiap Hoe is not about to ditch its core business as a niche integrated property developer. Despite the government's recent cooling measures, Ms Tan said that Hiap Hoe is still on the lookout for new land parcels in Districts 9 and 10.
But because these parcels are few and far between, Hiap Hoe is also looking to develop residential projects in suburban areas such as Punggol and Woodlands.
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