Singapore-based hospitality company, Hotel Properties Limited (HPL), has reported a significant loss of $17.2 million for the first half of the financial year 2023. The company, owned by prominent businessman Ong Beng Seng, attributes this decline to ongoing challenges in the global tourism industry caused by the COVID-19 pandemic. Despite the setback, HPL remains optimistic about the future, emphasizing their commitment to adapt and recover as travel restrictions ease.
In a surprising turn of events, the resale of properties at the prestigious Marina Collection has resulted in a staggering loss of $2.59 million. This revelation has left investors and experts bewildered as they try to comprehend the factors behind such a significant financial setback. The incident serves as a stark reminder of the unpredictable nature of the real estate market and highlights the potential risks involved in property resale.
In a recent case, a condo buyer faced a $30,000 loss for canceling their deal with Blossoms By The Park . Additionally, HDB’s proposal to rezone six sites, including Alexandra Road, Upper Thomson Road, and Orchard Road, has sparked discussions . Stay updated on the latest developments in the property market.