Hotel Properties looks to redevelop certain Singapore properties via possible joint ventures

Hotel Properties H15 said on Tuesday that several parties have approached the company for the redevelopment of its Forum The Shopping Mall property and adjacent land, which includes the voco Orchard Singapore hotel.

Earlier in the day, Bloomberg News had reported that the company was looking to sell a majority stake in the properties, valuing the assets for at least S$2 billion ($1.55 billion), citing people familiar with the matter.

A joint venture with regards to the properties, located in Singapore's main shopping belt, is a "possibility", the company, owned by embattled billionaire Ong Beng Seng, said in a statement.

The company is looking at the possibility of redeveloping the properties with some of these interested parties, although there is no certainty that this will result in a deal, it said.

($1 = 1.2882 Singapore dollars)