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Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishment?

Rogue Trader

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Qatari owners take over Raffles Hotel

20120114.182343_raffleshotelx350z175.jpg

The hotel was reported to have been sold for US$275 million (S$356 million) in 2010. -AsiaOne

Sat, Jan 14, 2012
AsiaOne


The Qatar National Hotels Company (QNH) has taken over Singapore icon Raffles Hotel, reported The Straits Times.

The hotel was reportedly sold for US$275 million (S$356 million) in 2010 to a Qatari sovereign wealth fund, the English daily said.

QNH, a government-owned company, is the largest hotel owner and operator in Qatar.

It also now owns Le Royal Monceau Raffles Paris, the European flagship of Raffles Hotels & Resorts, the report said.

The additions represented "consistent steps of QNH's strategic expansion at the international level," QNH chief executive Hamad Abdulla Al-Mulla said in a statement.

Located at Beach Road, the historic Raffles Hotel has 103 rooms and was built in 1887. It has since gained worldwide fame.


[email protected]

 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Long Bar without Singapore Sling
 
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Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

another icon gone.....sad.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Next project. How to make non-alcoholic Sg sling and how to circumcise Raffles cock in the statue LOL
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Sure see alot of royalties there, just like at scotts, children running around no wear shoes.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

No more long bar.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Temasek has 400 million bucks to throw at a Pakistani bank but couldn't muster enough decency to buy out a historical and cultural landmark.

Pathetic.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

The Qataris have no interest in changing the iconic status of Raffles Hotel which was already in the hands of Kingdom Holdings which belongs to Prince Alwaleed of Saudi Arabia - no Wahhabi mullahs were running amok or converting the long bar into a prayer asanctuary and neither will the Qataris do the same. Hence this "Singapore"
icon was not really 'Singkie" for a while now.

QIA which own Qatar Holdings and Qatari Diar (its real investment investment arm) is consistently trying to expand its portfolio of acquisitions - from the take-over of Harrods to the Shard in smack central Square Mile in London - the most "Qatari" thing they will do is fly the Qatari flag - the rationale is to diversify and acquire to ween
dependence on the oil and gas industry - this swf is only 7 years old and typically supersecret in its plans - just like any others. The guys running the fund are mostly westerners and the Qataris have maintained that they are not interested in distressed assets, just distressed sellers.

Raffles Hotel to be sold to Qatar for $275m

The 123-year-old luxury hotel, renowned for its colonial grandeur and Singapore Sling cocktails, is set to be sold as part of a $847m deal for a stake in Fairmont Raffles Hotels International, The Times reported.
Qatar Diar this week agreed to pay $467m for a 40pc stake in Fairmont Raffles, with Saudi billionaire Prince Alwaleed Bin Talal set to cut his previously controlling interest in the group from 58pc to 35pc. US private equity firm Colony Capital will reduce its holding to 22pc.
The deal includes $105m in hotel managemement contracts for Fairmont Raffles and $275m for an unnamed hotel property.
Fairmont Raffles and the Prince's Kingdom Holding Company confirmed that the sale of the Raffles Hotel is under discussion, The Times reported, with Qatar Diar said to be evaluating the cost of an estimated $100m refurbishment project.
The Singapore landmark is one of more than 100 hotels run by Fairmont Raffles. It was founded in 1887 and guests have included Noel Coward, Rudyard Kipling and Michael Jackson.
Qatar Diar's property portfolio includes Le Royal Monceu in Paris, which is set to reopen under the Raffles brand later this year.


http://www.telegraph.co.uk/finance/...ffles-Hotel-to-be-sold-to-Qatar-for-275m.html

Some examples of their diverse portfolio:

QIA also acquired stake in Miramax - don't really see Harvey Weinstein suddenly churning out pro-muslim themed movies or anti-heros.

Shard defies crisis as Qataris lift London skyline


LONDON: Half a mile across the River Thames from where bankers tally job losses in London's financial district, builders sink girders to lay the foundations of what will be Western Europe's tallest skyscraper. "The Shard", funded by four Qatar‐based companies, is due to be completed in 2012. The 310‐m, 430 million‐pound ($712 million) tower also will be the most prominent symbol yet of how money from the Middle East is filling the void left by Western banks and financiers.
"In the same way as when the Japanese came to London in the 1980s, those who have the biggest pockets and are the best capitalized will get the best locations," said Savvas Savouri, head of strategy at London property broker Bh2.
Banks and insurers are firing more than 58,000 workers in London because of the global financial crisis, prompting developers including Land Securities Group Plc and British Land Co to delay or axe projects. Companies shelved a total of 534,000 sq m of office space due for completion by 2011, almost three times the size of Green Park in central London, according to real estate brokers CB Richard Ellis Group Inc.
The biggest structure still going ahead in the City of London financial district will be the 288‐m Pinnacle office tower due to be built by 2013. That also is being funded by investors from the Middle East, Arab Investments Ltd.
The Shard, with offices, a five‐star hotel, restaurants and apartments, got the name from its wedge‐like glass structure designed by Pritzker Prize‐winning architect Renzo Piano.

Miramax Films
http://taighde.com/w/Cayo_Largo_del_Sur
Miramax Films is a film production company based in the United States.
A consortium, which involved the Qatar Holdings &#151 a unit of the Qatar Investment Authority, agreed to buy Miramax from The Walt Disney Company for $663 million. In addition to Qatar Holdings, the consortium is also made up of Tutor‐Saliba Corp., Colony Capital and others. The consortium created an investment vehicle Filmyard Holdings for the purchase. [1]

SINGAPORE
Horizon Towers
http://taighde.com/w/Horizon_Towers
Horizon Towers is a set of property in Singapore. A joint venture bought the property in December 2007 for $500 million. The JV was comprised of Hotel Properties, Morgan Stanley Real Estate and Qatar Investment Authority. Due to legal lawsuits, the sale was delayed 11 months with the final purchase occurring in December 2007.

Raffles Medical Group
http://taighde.com/w/Raffles_Medical_Group
Raffles Medical Group is a health care company based in Singapore.
The Qatar Investment Authority purchased 4.87% of total shares. The QIA has paid $32,500,000 for 25 million shares. The QIA purchased the stake on June 19, 2007.

MALAYSIA
Qatar Malaysia Fund
http://taighde.com/w/QIA_Malaysia_fund
QIA Malaysia fund is a fund created by the Qatar Investment Authority and 1Malaysia Development Bhd. The fund will be capitalized with $5 billion and will invest in the energy, commodity, and real estate sectors in Malaysia.

CHINA
Industrial & Commercial Bank of China
http://taighde.com/w/Industrial_and_Commercial_Bank_of_China
Industrial and Commercial Bank of China (ICBC) is the largest of China's Big Four state‐owned commercial banks. They are Agricultural Bank of China, Bank of China, China Construction Bank, and Industrial and Commercial Bank of China. The ICBC is the largest bank in the world in terms of market value and one of the world's top 10 banks by assets.
Central Huijin, a unit of the China Investment Corporation, is the largest investor in the bank with 35.3%. In January 2009 the China Investment Corporation bought more of the bank's shares as part of a broader domestic investment plan.[1]
The Qatar Investment Authority invested $206 million in the ICBC's IPO in 2006.
The Kuwait Investment Authority invested $720 million in the ICBC's IPO in 2006. The ICBC has a separate listing on the Hong Kong exchange.

Sino-Singapore Tianjin Eco-City project
http://taighde.com/w/Sino-Singapore_Tianjin_Eco-City_project
Sino‐Singapore Tianjin Eco‐City project is a project being developed within a 30 sq km site called Tianjin's Binhai New Area. The Chinese Government and the Singapore Government are both working on the project. This city will "comprise housing, offices, and recreational facilities with environment‐friendly features, and is being positioned as a model for sustainable development." Four main districts will encircle the ecological core, and a light rail will run through the city along an eco‐valley, connecting major transit nodes, residential areas, community facilities and commercial centers.
The eco‐city may house 350,000 residents when it is completed in 10 to 15 years.
The Qatar Investment Authority has signed a memorandum of understanding with Singapore conglomerate Keppel Corp to invest an undisclosed amount for a 10% stake.
Temasek Holdings invested $11.5 million( S$16.3 million) into the project in February 2010. Temasek will hold 10% of the holding company that is developing the project. Temasek holds the 1 million shares though its subsidiary Singbridge International Singapore.
The Government Pension Fund of Norway holds a 0.48% stake in the company as of December 31, 2009. The stake is valued at $2,574,444.
 
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Raffles Must Die

60% all are basically 卖国贼 !

Singaporeans are stripped to the bare when most land are in the hands of foreigners.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Good news the Qataris bought Raffles Hotel. The luxury hotels in the Middle East are truly magnificent, almost palaces even.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Long Bar without Singapore Sling

Long Bar will become short bar, no alcoholic drinks, only fruit juices.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Next project. How to make non-alcoholic Sg sling and how to circumcise Raffles cock in the statue LOL

Dont think anything will happen, maybe more investments etc, the Arabs love booze and women just as much as the next guy, they really love whiskey..they can now check into Raffles and enjoy this better than in their own home country
 
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Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Well this Qatar swf seemed to have made some good bets....more that I can say about ours.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

maybe belly dancing?

Belly dancing does not exist in the Gulf countries (in public - whether the Sheikhs indulge in private is another issue) - its mostly a phenomenon associated with Turkey (which is not Arab) and Egypt.

And no they will not turn the Long Bar into a short one - they dont't care what happens outside the realm of their immediate society - its all about the money.

Look around and you'll find such diverse investments in even in Israeli tech companies, casinos, et. all which can be traced back to Arab khaliji money.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

No worries.. These type of Camel toes are not like their fucktard Al Qaeda cousins.. They love their women and their liquor.. Maybe they will erect a Camel Statue in front of Raffles Hotel..

This could be a common sight at Raffles Hotel in the coming future..:D

 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Raffles hotel is crap. Lots of food poisoning cases at their restaurants. The building is substandard. Worked there after my NS donkey years ago and found it overated and a hype.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Till the late 1980s, Raffles Hotel was just a mansion-sized hotel, not the shopping-center-sized hotel you see today. DBSLand (now CapitaLand) bought over adjacent land and expanded it. The refurbishments and extensions were done by CITB students and Banglas. From a distance, it may look grand but up close, the handiworks are shoddy. Some years ago, Raffles Hotel was sold to an American company (can't remember the name), so it should be that company selling to Qatar.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Qatari owners take over Raffles Hotel

20120114.182343_raffleshotelx350z175.jpg

The hotel was reported to have been sold for US$275 million (S$356 million) in 2010. -AsiaOne

Sat, Jan 14, 2012
AsiaOne


The Qatar National Hotels Company (QNH) has taken over Singapore icon Raffles Hotel, reported The Straits Times.

The hotel was reportedly sold for US$275 million (S$356 million) in 2010 to a Qatari sovereign wealth fund, the English daily said.

QNH, a government-owned company, is the largest hotel owner and operator in Qatar.

It also now owns Le Royal Monceau Raffles Paris, the European flagship of Raffles Hotels & Resorts, the report said.

The additions represented "consistent steps of QNH's strategic expansion at the international level," QNH chief executive Hamad Abdulla Al-Mulla said in a statement.

Located at Beach Road, the historic Raffles Hotel has 103 rooms and was built in 1887. It has since gained worldwide fame.


[email protected]


Yes it probably will.
 
Re: Raffles Hotel sold to Qatar SWF - Will it be transformed into a halal establishme

Till the late 1980s, Raffles Hotel was just a mansion-sized hotel, not the shopping-center-sized hotel you see today. DBSLand (now CapitaLand) bought over adjacent land and expanded it. The refurbishments and extensions were done by CITB students and Banglas. From a distance, it may look grand but up close, the handiworks are shoddy. Some years ago, Raffles Hotel was sold to an American company (can't remember the name), so it should be that company selling to Qatar.

Wasn't Jeannie, whats her family name, was the CEO of the hotel.
 
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