Edge Prop

A beachfront development site in Penang, Malaysia, is up for sale via an expression of interest (EOI) exercise. The prime freehold plot, located in Batu Ferringhi, has an asking price of RM140 million ($44.1 million). Colliers, the exclusive marketing agent for the asset, said the commercial plot has been approved for redevelopment into an integrated landmark of up to 722 keys, comprising hospitality, serviced apartments and wellness amenities.

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Verdun House, a four-storey freehold building at the corner of Verdun Road and Sam Leong Road, has been launched for sale by expression of interest (EOI). Cushman & Wakefield (C&W) is the appointed exclusive marketing agent. Built in the 1980s, Verdun House comprises four strata-titled shops on the ground floor and 12 strata-titled apartments across the three upper floors. It spans 6, 8, 10 and 12 Verdun Road.

Hong Kong-based hotel company Harilela Group has inked a three-hotel franchise agreement with global hospitality firm IHG Hotels & Resorts. Under the deal, hotels under Harilela Group’s The Hari brand will join Vignette Collection, IHG’s portfolio of independent luxury properties. The hotels are: the 85-room The Hari London, which opened in 2016; the 210-room The Hari Hong Kong, which opened in 2020; and the upcoming The Hari Singapore.

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When realtor Sapphire Lee welcomes visitors into the Orchard Road landed home she is marketing, the conversation rarely begins with its asking price. Instead, she points towards two indoor ponds where koi glide beneath the water alongside a pair of turtles. “At one point, the turtles wandered off and disappeared,” she says with a smile. “Somehow, they found their way home again.” The story always catches people by surprise, so does the house.

Brookfield has entered Japan's housing market by acquiring a diversified portfolio of 50 multifamily residential assets, totalling about 3,700 units, in major gateway cities. Financial newspaper Nikkei reported that the price tag for the deal exceeded JPY100 billion ($803.7 million), although the global alternative asset manager did not disclose this in its Aug 17 press release.

Therme Group, which develops and operates wellbeing resorts, has announced a strategic alliance with Marriott International to explore "next-generation" wellbeing initiatives in hotel operations and travel experiences, they said in an Aug 13 press release. Under the tie-up, Therme will collaborate with Marriott Design Lab, the hospitality giant's R&D hub for design and innovation.

Radisson Hotel Group is expanding its Bali portfolio with the signing of Bloom Hotel Bali Ungasan, which is expected to open by the end of 2029. Located in Ungasan on Bali's Bukit Peninsula, the newly built hotel will have 145 rooms, including 22 suites. Designed around a central swimming pool, the property comprises two four-storey buildings and is intended to cater to leisure travellers visiting southern Bali. Looking to invest in overseas properties?

Here is this week’s data-led look at Singapore’s property market, covering record transactions, rental benchmarks and the most searched homes on EdgeProp. The following insights are compiled from EdgeProp Buddy, URA Realis and data.gov.sg, downloaded as of Aug 12.