Amara undertakes its biggest asset refurbishment in Singapore in over 20 years

SINGAPORE (EDGEPROP) - Hotel and property developer Amara Holdings is set to complete the renovation of its 38-year-old flagship hotel, Amara Singapore, by September. Renovation has been underway at the 389-key hotel at 100 Tras Street in Tanjong Pagar for the past 12 months. The first phase of refurbishments was completed in April. All the rooms were enhanced, incorporating sustainable features such as an energy-efficient air-conditioning system, energy-efficient motion sensor lighting, and an in-room filtered water tap. The interiors of the refurbished Amara Singapore were designed by renowned hospitality design firm Studio HBA, a division of Hirsch Bedner Associates, which took inspiration from the eclectic neighbourhood of Tanjong Pagar — the traditional hawker stalls in Tanjong Pagar Plaza (built in 1976), the conservation shophouses built in the 19th century, and the heritage trees in the nearby Duxton Plain Park. Read also: Amara Holdings' share price surge in relation to possible transaction that may lead to offer for company’s shares Advertisement Advertisement “Evolving alongside Tanjong Pagar over the past four decades, we have adopted a design philosophy that pays homage to the hotel’s culturally rich environs,” says Dawn Teo, COO of Amara Holdings and the daughter of Albert Teo, the CEO, director and substantial shareholder of the company. Dawn wants Amara Singapore to be “the social epicentre of the neighbourhood”. She believes it is essential to capture its importance to the Tanjong Pagar area’s history and heritage. According to Dawn, the redesigned Amara Singapore caters to the new breed of “bleisure travellers” who blend business and leisure travel. The hotel also hosts meetings, incentives, conventions and events in the CBD. Hence, the ballroom and meeting rooms were refurbished, with the works completed in May.

Fourth-generation scion

The latest refurbishment of Amara Holdings’ flagship hotel is more than just a routine asset enhancement exercise. It is a “reinvigoration of our commitment to luxury and innovation while not losing sight of our roots as one of the first hotels in Tanjong Pagar to cater to business travellers”, says Dawn. Her grandfather, Teo Joo Lai, was the developer and builder of Amara Singapore, which opened its doors in May 1986. The name “Amara” means “eternity” in Sanskrit. Dawn is the first member of the fourth generation to join the family business. Her father had taken over the reins of the business after Teo Joo Lai passed away in 1988. Teo Joo Lai’s father and Dawn’s great-grandfather, Teo Teck Huat, founded the company in the 1930s. The company started as a construction company and was initially known as Teo Teck Huat Group. Projects it was involved in included the former Cathay Cinema on Orchard Road. Read also: Amara Holdings buys Surrey Point for $47.8 mil Advertisement Advertisement Amara Holdings was listed on the Singapore Exchange in August 1997 and remains listed today. A voluntary cash offer by Amethyst Assets, a consortium led by Albert Teo, other members of his family, and private equity investor Dymon Asia, secured 88.39% of shareholders’ interest at the close of Jan 16. However, it fell short of the 90% needed for Amethyst Assets to make a compulsory acquisition of the whole company.

Past refurbishments and repositioning

The original Amara Singapore comprised a 25-storey hotel block with a four-storey retail podium (Amara Shopping Centre). The last major renovation of Amara Singapore was in 2000, 24 years ago. The refurbishment also included the addition of a 12-storey corporate office block in 2002. In 2011, the former Amara Shopping Centre was revamped and rebranded as 100 AM. Anchor tenants at 100 AM include Muji and Daiso on level 4, Don Don Donki on levels 2 and 3, and FairPrice Finest in basement 1. With more residences coming up in the CBD, Dawn sees 100 AM enjoying higher footfall on weekends. Upcoming residential projects in the vicinity include the 364-unit One Bernam, the 246-unit Newport Residences (a redevelopment of the former Fuji Xerox Towers), and the 324-unit TMW Maxwell (a redevelopment of the former Maxwell House). While Amara Singapore is a city hotel in the business district, the 140-key Amara Sanctuary Sentosa is the group’s flagship resort hotel. Situated on Sentosa Island, the resort hotel opened in 2007 and has 140 suites, villas, and a mansion. Amara Sanctuary Sentosa underwent a comprehensive renovation in January and reopened in June. It will have an official reopening on July 18. For this refurbishment, Amara appointed the multi-disciplinary design studio Farm, which “integrated contemporary aesthetics with biophilic elements”. Read also: Amara opens 100 AM mall in Shanghai Advertisement Advertisement

‘Selectively looking’ in the region

Beyond Singapore, the group has hotels in Bangkok and Shanghai. The 250-room Amara Bangkok opened in 2015, while the Amara Signature Shanghai, the group’s first five-star offering, opened in 2018. The 343-room hotel is adjacent to Amara’s 100 AM Shanghai, a 113,021 sq ft commercial complex with an office tower and retail mall. The property is in the Puxi district of Shanghai, built on a piece of land that Amara purchased in 1996. According to Dawn, the hotel group is “selectively looking” at expansion opportunities in the key gateway cities in the Asia Pacific region.