Far East Orchard in JV for $100.5 million Japan hotel project

SINGAPORE (May 28): Far East Orchard’s 70%-held subsidiary Far East Hospitality Holdings (FEHH) has entered into a 50-50 joint venture with Boo Han Holdings (BHH), a member of Far East Organization, to jointly undertake a hotel project in Japan for 8.20 billion yen ($100.5 million).

Under the agreement, FEHH and BHH will enter into a conditional purchase and sale agreement to jointly purchase the land and hotel to be built on the land from Shimizu Corporation.

The hotel project is located on an approximately 2,542 sq m plot of land located in Ariake, Tokyo.

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