Hongkong Land in talks with Ong Beng Seng’s HPL for stake in Orchard Road buildings: Sources
A stake sale is likely to value the assets at over $2 billion, according to sources.
Hongkong Land is in talks with Ong Beng Seng’s Hotel Properties Ltd (HPL) about acquiring a majority stake in three buildings in Singapore’s Orchard Road shopping district, according to sources familiar with the matter. The proposed deal could involve developer Hongkong Land, which is controlled by Jardine Matheson Holdings, investing in the three adjacent properties slated for redevelopment.
These properties comprise hotel voco Orchard, shopping mall Forum, and HPL House, which houses HPL's headquarters and Hard Rock Cafe. The discussions are still in their early stages and could potentially fall through. If the deal goes through, it is expected to value the assets over $2 billion. Hongkong Land spokesperson declined to comment on the matter.
Christopher Lim, HPL’s group executive director, also declined to comment. A successful transaction would provide a respite for HPL, which has faced challenges after its co-founder was convicted in a scandal in 2025.
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