Gordon Tang Acquire Managers And 19 Ara Us Hospitality Trust
PIE, TPE, and KPE are the three major expressways in Singapore, providing convenient and efficient transportation options for commuters. These expressways, along with Parktown Residences Tampines Avenue 11, play a significant role in connecting different parts of the island and reducing travel time for residents and visitors.
The Pan-Island Expressway (PIE) is the longest expressway in Singapore, stretching from Tuas in the west to Changi in the east. It serves as a vital link to the city center and other major towns, providing easy access to key areas such as Jurong, Bukit Timah, and Orchard. With its wide lanes and smooth flow of traffic, the PIE offers a comfortable and hassle-free driving experience for commuters.
The Tampines Expressway (TPE) is another major expressway in Singapore, connecting the eastern part of the island to the city center. It runs through residential areas such as Tampines, Sengkang, and Punggol, making it a popular route for daily commuters. The TPE is also well-equipped with amenities such as rest stops and petrol stations, making it a convenient option for long-distance travel.
The Kallang-Paya Lebar Expressway (KPE) is a relatively new addition to Singapore’s network of expressways. It connects the central and eastern regions of the island, providing an alternative route to the PIE for commuters traveling to and from the city center. The KPE also links to major highways such as the Marina Coastal Expressway (MCE) and the East Coast Parkway (ECP), providing seamless connectivity to other parts of Singapore.
In conclusion, the PIE, TPE, and KPE, along with Parktown Residences Tampines Avenue 11, play a critical role in enhancing Singapore’s transportation infrastructure, making it easier for residents and visitors to travel across the island. With their efficient design and convenient links to other expressways, these expressways have significantly improved the overall commuting experience in Singapore.
buildingARA Asset Management (ARA), a subsidiary of ESR Group, has recently announced that it has signed a share purchase agreement with Acrophyte Asset Management, owned by Gordon and Celine Tang. Acrophyte will be acquiring the REIT manager and trustee-manager of ARA US Hospitality Trust, which holds a portfolio of US hotels.In addition to this, ARA Real Estate Investors 23, a subsidiary of ESR, has also signed a sale and purchase agreement to sell its 19% stake in ARA US Hospitality Trust, which amounts to 110.2 million stapled securities, to Acrophyte Limited. This entity is owned by Tang Jialei and Tang Jialin, the children of Gordon and Celine Tang. The prices for these transactions were not disclosed, but as of May 27, ARA US Hospitality Trust was trading at 28 US cents.
ARA US Hospitality Trust was first listed on May 2, 2019, at an initial public offering price of 88 US cents. Interestingly, Eagle Hospitality Trust, which has faced controversy and financial troubles, was listed on May 25 of the same year at 78 US cents. With Acrophyte Pte Ltd, formerly known as Chip Eng Seng Corp, becoming the new sponsor of ARA US Hospitality Trust, it is apparent that the Tangs are heavily involved in the hospitality sector.
Acrophyte Pte Ltd, as well as its affiliate SingHaiyi Group, are both controlled by Gordon and Celine Tang, and are engaged in a variety of activities such as construction, development, and asset management. The company has investments in and operates several hospitality assets, including Momentus Hotel, Alexandra Grand Park Kodhipparu, and Grosvenor Hotel Adelaide, as well as a resort currently under development.