Shangri-La Asia inks seven-year lease for offices at Great World

Great World City (Picture: Samuel Isaac Chua/EdgeProp Singapore)
Great World City (Picture: Samuel Isaac Chua/EdgeProp Singapore)
SINGAPORE (EDGEPROP) - Shangri-La Asia has announced that its wholly owned subsidiary, Shangri-La International Hotel Management, has entered into a seven-year lease for office premises at Great World City in Singapore. The lease, commencing on 1 January 2026, covers units in the West Lobby, has a monthly rent of $51,219.20 and a monthly service charge of $6,402.40. Shangri-La Asia says the group will use the property as its corporate offices in Singapore.
The lessor, GWC Commercial, is a subsidiary of Allgreen Properties, which is an associate of Kerry Holdings, a substantial shareholder of Shangri-La Asia. This makes the transaction a connected one under Hong Kong listing rules, subject to announcement and reporting requirements, but exempt from independent shareholders' approval, given that the value of the right-of-use asset for the lease, at $4.2 million, is less than 5% of the applicable percentage ratios. Shangri-La and Allgreen Properties are both part of the Kuok Group.
Shangri-La Asia's board states that the lease terms are fair, reasonable, and at market level, facilitating the group's daily operations in Singapore.
Advertisement
Advertisement
Check out the latest listings for Great World properties
Follow Us
Property updates, 24/7.
Subscribe to Newsletter
Market insights, delivered weekly.