, which had been conducting exclusive due diligence and possibly negotiating to purchase the hotel for S$470-480 million. On Tuesday, M+S declined to comment on this when contacted by BT.
The hotel occupies the top 15 floors of the 39-storey Duo Tower and features a rooftop venue, an observation deck, a string of restaurants and bars, and premium meeting facilities. Hoi Hup Realty’s chairman Wong Swee Chun said on Tuesday: “We are attracted to the rarity of this high-quality luxury hotel offering as well as its historic significance, being one of the landmark projects by M+S.”
Kemmy Tan, chief executive officer of M+S, said that the record price of S$475 million reflects the hotel’s potential for growth in tandem with the evolution of the Bugis district as an extension of the existing central business district.
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