Atelier Capital Partners Singapore (ACP), a family office established by Singapore’s Fortez Capital and Hong Kong’s Atelier Capital Partners, has successfully formed and led a consortium to invest in Capri by Fraser Changi City, Singapore. 

The consortium is led by Atelier Capital Changi, a joint venture between ACP and a global real estate fund, whose investment into the consortium is asset managed by ACP. Atelier Capital Changi will hold majority  share, with 2 other shareholders being Heeton Holdings Limited, a Singapore Mainboard-listed company, and Dorsett Hospitality International (DHI), a subsidiary of Far East Consortium International, a Hong Kong 

Mainboard-listed entity. The consortium has appointed DHI to operate and rebrand the hotel as "Dorsett  Changi City Singapore." ACP played a key role in bringing together the consortium, led the investment structuring, and advised on the acquisition. ACP will continue to lead the asset management for this investment.

Mr. Terence Tang, CEO of ACP, stated, "Since our inception, we have actively sought the right investments in Singapore. With patience and strategic planning, we identified this asset, secured the deal, and crafted a sound investment strategy with the support of like-minded investors."

Mr. Tang added, "We are confident that, DHI, as a hotel operator, will be able to reinvent the hotel and maximise the potential of its location. DHI’s strong management has demonstrated an exciting business plan whereby they will leverage on the hotel’s strategic location, using their strong global network to identify appropriate strategies that will drive revenue growth. We are excited to collaborate with their  team to maximize the investment potential of this hotel."

Investment Rationale

Dorsett Changi City Singapore is strategically located in Changi Business Park, a MRT station away from  the Jewel and Airport, and adjacent to The Expo. The Expo being Singapore’s largest purpose-built  meetings, incentives, conventions and exhibitions MICE venue. Its strategic location is ideally suited to  serve business or leisure travellers. It is also adjacent to Changi City Point, one of only two outlet malls in  Singapore, which enhances its appeal to a broader market.

Singapore’s Urban Redevelopment Authority (URA) has major transformation plans for the Changi Region,  aimed at creating a vibrant Live-Work-Play-Learn Ecosystem around the airport. These plans include the  development of a Waterfront District near Changi Business Park, the new Terminal 5, the Changi East  Industrial Zone (with new aviation related industries) and the Changi East Urban District, all of which will contribute to the hotel’s future growth.

ACP has selected a hospitality investment as its first investment foray into Singapore as it is optimistic  with the country’s tourism industry. Recent years have seen an increase in offerings for both business  travellers and tourists, leading to longer stays and higher tourist spending. 

Singapore’s tourism sector has continued its post-pandemic recovery this year, boosted by a resurgence  in tourists’ numbers. The visa-free travel regime for visitors from China, announced in January 2024, has  led to 1.45 million Mainland Chinese visitors in the first half of 2024, making China Singapore's largest  source of tourists. Visitors’ arrivals reached a new year-to-date peak in July 2024, with 1.6 million visitors1. 

The upcoming completion of Terminal 5, which will be Singapore’s largest airport terminal, is expected to  further boost these numbers.

ACP is excited with this investment and will continue to seek investment in Singapore and the Asia Pacific to create value and returns for its platform by partnering with like-minded operating and financial  partners.

In addition to Singapore, ACP is focused on expanding its presence in markets such as Japan and Australia in the near future.