Singapore’s Jaleel family snaps up two Australian hotels for $100m
Singapore’s wealthy Jaleel family has acquired two hotels – one in Perth and the other in Melbourne – for about $100 million in total, just six months after buying one in Brisbane for $34 million, in a rapid ramp-up of its exposure to Australia’s hospitality sector.
In its latest acquisition, the Jaleel family’s JD Properties purchased the 98-room Pensione Hotel in Perth for about $28.3 million, property records show.
The owner was a private syndicate, which included Warwick Evans, chairman of specialist fund manager Naos Asset Management Limited.
A second property, the IHG-managed Hotel Indigo on Flinders Lane in Melbourne, is also being added to JD Properties’ growing Australian portfolio after the Singaporeans struck a $75 million deal.
The transaction is yet to settle. The Flinders Lane property was held by fund manager Pro-Invest Group, co-founded by Ron Barrott and Sabine Schaffer.
Those two acquisitions come just six months after the Jaleel family acquired the George Williams Hotel, now known as the George Hotel Brisbane, in Brisbane’s CBD for approximately $34 million, a deal that gives the Singaporean group exposure to the hospitality boom expected to arrive with the 2032 Olympics.
Sarah Petty