EL Development has signed a memorandum of understanding with Accor for the French hospitality group to manage a new hotel at Hill Street. The new hotel will be the first Pullman Hotel in Singapore.
EL Development acquired Dunearn Gardens for S$468 million via an en bloc sale. The company intends to redevelop the site into a high-rise luxury residential development comprising of 348 one to four bedroom units.
EL Development acquired the Telephone House at Hill Street from SingTel for S$118 million. The property will be redeveloped into a 350 keys upmarket hotel.