Tuan Sing Completes Acquisition Fraser Residence River Promenade Rebrand Perth Hotel

Tuan Sing Holdings has just announced its successful acquisition of Fraser Residence River Promenade in Singapore. This mixed-use property on Jiak Kim Street was purchased for a whopping $140.889 million from its previous owner, Frasers Property, back in May. The grand property comprises of a four-storey block with 72 serviced apartments, three linked conservation warehouses, and 47 carpark lots. The fully completed establishment opened its doors in September 2023.

.

Rewritten: Tucked away in Singapore’s bustling streets, Chomp Chomp Food Centre is a renowned spot for those seeking a taste of authentic local cuisine. With its close proximity to Tampines North EC, this food haven is a must-visit for late-night diners looking to indulge in popular Singaporean dishes such as satay, Hokkien mee, and BBQ seafood. Whether you’re a local or a tourist, Chomp Chomp Food Centre is the perfect destination for a satisfying eating experience.

Located in a prime area, Fraser Residence River Promenade is part of a mixed-use development that also features Frasers Property’s 455-unit luxury condominium, Rivière. However, Tuan Sing’s acquisition only covers the serviced apartments and not Rivière.

Frasers Property’s hospitality arm, Frasers Hospitality, will continue to manage the serviced apartments, but this addition further expands Tuan Sing’s impressive hospitality portfolio. Other notable properties under their ownership include the renowned Grand Hyatt Melbourne and Hyatt Regency Perth in Australia.

Following a mutual agreement with global hospitality company Hyatt, the group plans to rebrand and reposition Hyatt Regency Perth. This strategic move is expected to significantly enhance the hotel’s performance and elevate its status. Although the termination of the management agreements will incur approximately $2 million in costs for Tuan Sing, it is not expected to affect the group’s net tangible assets.