Singapore Billionaire ’s Royal Group Enters London With $143 Million Hotel Project In Mayfair [Forbes]
CITY DEVELOPMENTS S/ADR (CDEVY)
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Source: Forbes
Singaporean magnate seeks to expand his company's footprint to tap the global travel boom. bought the former NatWest Bank (formerly Westminster Bank) building on Piccadilly in London's Mayfair district for £65 million last month. It will spend another £45 million to transform the century-old heritage property into a luxury boutique hotel with 50 suites, Hiranandani, chairman of the Singapore-based company said. Hiranandani says he had been looking for opportunities in London in the past decade, drawn to the city's attraction as a travel destination. Tourist arrivals in London increased 10% to 10.4 million in the first half of 2024, after rising 25% to 20.3 million in the whole of 2024, government data showed. “London's tourist arrivals are growing lik
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