IOI Properties said to have appointed Marriott for its hotel in Marina View

IOI Properties Group is understood to have appointed Marriott International to manage the hotel in its Marina View project in Singapore’s Central Business District.

However, which one among Marriott’s brands will be used for the new hotel has yet to be finalised, The Business Times understands.

Besides the hotel, IOI Properties is developing residential and retail components on the Marina View site. The Bursa Malaysia-listed group was the sole bidder for the 99-year leasehold white site in a Singapore state tender that closed in September 2021. The group bagged the site for S$1.508 billion or S$1,379 per square foot per plot ratio; this was S$101 more than the price at which the group successfully applied for the site to be released from the reserve list in the first-half 2021 Government Land Sales Programme.