Minor International Public Company Limited (MINT) is thrilled to announce a milestone achievement in its hotel expansion strategy with its inaugural entry into Singapore—a bustling metropolis and pivotal Asian gateway. This landmark move comes through a collaborative partnership with Kajima Development Pte. Ltd. (“Kajima”) and Alwathba Investment LLC (“Alwathba”), paving the way for a lifestyle hotel in the heart of Singapore, adjacent to the Central Business District (CBD) and Chinatown.
Forging this path, MINT, Kajima, and Alwathba leverage their longstanding partnerships, spanning projects across Thailand and beyond. Once the transaction is finalized, the ownership of the hotel will be split among Kajima (50%), MINT (25%), and Alwathba (25%).
Marking MINT’s debut in Singapore’s hospitality arena, the plan is to develop a 13-story hotel with 200 keys at 24 Peck Seah Street, a prime location near Tanjong Pagar MRT. The hotel proudly carries the “Avani” brand, making its maiden appearance in Singapore. With an anticipated opening in Q1 2027, Avani aims to establish itself in this pivotal gateway city, attracting millions of global travelers. This initiative is a crucial part of MINT’s broader strategy to enhance its presence in major international gateway cities.
MINT’s investment for this ambitious project stands at approximately USD 19 million. It aims to deliver an Internal Rate of Return (IRR) in the mid-teens, signifying expected steady income, robust cash flows, and considerable asset value appreciation potential.
“Avani Singapore marks a strategic market entry for Minor Hotels, and we are honored to embark on this journey with our esteemed partners Kajima and Alwathba,” remarked Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels. “Their industry acumen and market knowledge will ensure an unparalleled hotel experience, creating a vibrant haven for both business and leisure travelers.”
Mr. Shuichi Oishi, CEO of Kajima Development Pte. Ltd., added, “We are excited to advance our partnership with MINT and introduce the Avani brand to Singapore. By marrying Kajima’s established presence in Singapore with MINT’s expertise in branding and hospitality, along with its global network, we are confident that this project will set new standards in the hospitality sector.”
Furthermore, Mohamed Saif Ghanem Saif Alsuwaidi, Managing Director of Alwathba, commented, “We have immense confidence in MINT’s ability to deliver stellar performance and returns. We are proud to support this Singaporean venture, underscoring our commitment to fostering international development and reinforcing our strategic global alliances.”
This expansion means that MINT will now boast both hotel and restaurant operations in Singapore, building on the success of its nearly 100 restaurant outlets across the city. This dual presence underscores MINT’s unwavering commitment to the Singapore market and highlights the company’s prowess in delivering exceptional experiences across hospitality and dining sectors.
This is amazing news for Singapore! Another luxury hotel in the heart of the city will definitely boost tourism.
But do we really need more luxury hotels? Housing prices are already skyrocketing, and this will only make things worse for locals.
I get your concern, Jane, but hotels bring in tourists, which supports local businesses. It’s a trade-off.
John is right. Tourism growth has a multiplicative effect on the economy. It’s not just about the hotels.
Finally! An Avani hotel in Singapore. I’ve stayed at Avani properties before, and they are top-notch.
I am looking forward to experiencing their hospitality. Reports suggest Avani hotels have fantastic service.
But what about the local heritage? These hotels often overshadow Singapore’s cultural spots.
Minor International and all these big corporations just care about profits. What about the environmental impact?
Good point. These developments should be mindful of their carbon footprint. Green initiatives should be mandatory.
Corporations are not inherently evil. They also bring job opportunities and improve infrastructure.
Can’t wait to book a stay at Avani Singapore. The location seems perfect!
Perfect for tourists, maybe. For us locals, it means more crowded MRTs.
A new hotel near the CBD is a boon for business travelers like me. Less commuting hassle!
Not everyone benefits from the convenience, BusinessTraveler. It could drive up local rent prices.
True, but it also creates jobs and improves local amenities. It’s a complex issue.
Wow, an IRR in the mid-teens is impressive! This looks like a solid investment.
Exactly, Mandy. This is lucrative for those investing in the hospitality sector.
Why are we talking about returns when the planet is burning? Priorities, people.
Balancing financial returns and environmental sustainability is crucial. Investors and developers need to find a middle ground.
Singapore’s continued focus on growing its tourism sector is commendable. This development adds to the city’s global appeal.
Why should we care about this? Just another hotel by some rich guys.
Exactly. It’s just more corporate greed masking as ‘development.’
It’s not just about profits. These developments have broader economic benefits. We need to look at the bigger picture.
Another concrete jungle addition. Are we losing our green spaces to high-rise buildings?
Larry, we must push for more sustainable urban planning. Green spaces are crucial for our well-being.
MINT’s nearly 100 restaurant outlets in Singapore are great. Hopefully, this hotel includes some of their renowned dining options.
Developing near Chinatown; I hope they preserve the heritage and cultural significance.
These international projects always promise jobs, but I rarely see the benefits trickling down to ordinary citizens.
Fantastic news! Avani Singapore will surely maintain the high standards set by other Avani hotels worldwide.
I wonder how competitive the pricing will be. Singapore is already known for its high cost of living.
Good point. Will it cater only to luxury travelers, or will there be affordable options too?
Location near Tanjong Pagar MRT is strategic. But will it live up to the hype?
Given Avani’s track record, I’m optimistic. They rarely disappoint.
Track records mean nothing if they don’t adapt to local needs.