The remaining strata area will cost around $74.84 million and won’t have any material impact on HPL’s consolidated net earnings per share (EPS) and consolidated net tangible assets (NTA) per share based on HPL’s financial statements for the FY2024 ended Dec 31, 2024.
On Nov 7, 2024, HPL, through Luxury Peak, announced that it acquired Concorde Hotel en bloc for $821 million, which is $1 million above the guide price of $820 million.
The site was launched for tender on Sept 3, 2024.
The sale price works out to $1,804 psf per plot ratio (ppr). This includes the applicable land betterment charge of $213 million based on a redevelopment scheme comprising 40% hotel, 40% residential and 20% commercial use.
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Shares in HPL closed 7 cents lower or 1.58% down at $4.35 on June 2.
