SINGAPORE - Property developer Oxley Holdings has appointed Accor to operate the two new hotels which will form part of the company's hospitality-cum-commercial development along Stevens Road.
The 198,889 sq ft land parcel, which is located at the site of former The Pines Country Club, was acquired by Oxley in March 2013 as an investment property.
It has a gross permissible floor area of about 318,222 sq ft and a 103-year leasehold tenure.
The hotels will be operated under the Novotel and Ibis brand names. When completed, Novotel Singapore on Stevens will have 254 rooms, a 500-seat ballroom, meeting facilities, food and beverage outlets, a fitness centre as well as a swimming pool.
Ibis Singapore on Stevens, meanwhile, will have 528 rooms.
The hotels are scheduled to open for business at the end of 2016.
"This project marks Oxley's maiden venture into the hospitality business and we are looking forward to seeing it take shape," said Mr Ching Chiat Kwong, chairman and chief executive of Oxley.
Accor is a global hotel operator and market leader in Europe.
Novotel and Ibis are two of Accor's most successful hotel brands, with a combined network of over 1,400 hotels globally and more than 300 in Asia Pacific.