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Hiap Hoe buys Aloft Perth hotel and office building for A$100m

Sale and purchase deal is with BGC (Australia) affiliate; Hiap Hoe says acquisition does not require shareholder approval

Published Fri, Nov 2, 2018 · 09:50 PM

Hiap Hoe

Singapore

HIAP Hoe has entered into a sale and purchase agreement to acquire the 224-room Aloft Perth hotel and an office building for A$100 million (S$99.2 million) from BAAC Pty Ltd, an affiliate of Australian manufacturing, building and construction company BGC (Australia) Pty Ltd.

"The directors believe the property presents a prime investment opportunity, with high occupancy levels and a diverse mix of blue-chip tenants," the company said in a statement before market…

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