Our Partner, Leong May Ling together with our Senior Legal Associate, Connie Ho Suk Mun and our Legal Associate, Jess Ng Siow Hui from Zul Rafique & Partners’ Corporate Real Estate practice group are pleased to have advised and acted for Regalpeak Holdings Sdn. Bhd. (a subsidiary company of Worldwide Hotels Group, Singapore’s largest homegrown hotel group) (“WW Hotels Group”), in relation to its acquisition of a parcel of land measuring approximately 1,133 square metres in area together with a twenty (20) storey hotel building known as Fives Hotel, Johor Bahru City Centre erected thereon (“Property”) from Hotel 77 Sdn. Bhd. (a subsidiary company of SKS Group), for the total consideration of RM142.50 million.
This transaction is also supported by our Partner, Ashela Ramaya together with our Senior Legal Associate, Nurul Atilia Mat Deris and our Legal Associate, Ng Wei Wen from Zul Rafique & Partners’ Banking & Finance practice group, who have advised and acted for WW Hotels Group in relation to the financing facility granted by Maybank Islamic Berhad to finance the acquisition of the Property.
Following the acquisition of the Property by WW Hotels Group, WW Hotel Groups in partnership with Accor (a global hospitality leader) have rebranded the Property as ibis Styles Johor Bahru City Centre (“Ibis Styles”). As one of the world’s leading design-led economy brand, Ibis Styles is guided by its “700 hotels, 700 designs” philosophy, with each hotel brings its own distinctive creative identity to life, offering guests design-forward stays that blend trusted comfort with individuality and surprise.
The rebranding of the Property is complemented by its strategic location in the heart of Johor Bahru’s central business district and enjoys excellent connectivity and visibility, with direct access to Singapore via the Johor Causeway and the Johor Bahru Customs. This prime location makes the Property highly attractive to cross-border travellers. The acquisition of the Property aligns perfectly with WW Hotels Group’s growth strategy and strengthens its’ presence as a significant player in the global hospitality scene.
We are grateful to WW Hotels Group for entrusting us to advise on this key acquisition and are honoured to have supported them in this milestone transaction.
The transaction was also reported in: –
1. Accor – Accor Signs ibis Styles Johor Bahru City Centre
2. JLL – JLL Advises SKS Group on the Strategic Divestment of Fives Hotel Johor Bahru City Centre
