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Ibis Novena sold for nearly S$170m

The Claremont in Little India is also in the early stages of being sold

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The price for the freehold Ibis Novena in Irrawaddy Rd is about $700,000 per room.

Singapore

PROPERTY funds managed by Alpha Investment Partners have sold the freehold Ibis Novena for nearly S$170 million, The Business Times understands.

The price works out to around S$700,000 per room and a net yield of about 3 per cent. Alpha has made a profit from the deal; it...

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