Execution and key man risks in HPL’s plan to redevelop Orchard Road properties

THINGS are stirring at tightly-held hotel, property and lifestyle group Hotel Properties (HPL).

Last month, HPL said it had received the grant of provisional permission from the Urban Redevelopment Authority to redevelop Forum The Shopping Mall, voco Orchard Singapore and HPL House under the Strategic Development Incentive.

These three properties sit on freehold and 999-year leasehold land located along Orchard Road and Cuscaden Road, with a total land area of 150,987 square feet (sq ft). HPL’s share price rose after this announcement.