<div id="readability-page-1">Editors' Pick Asia Billionaire Kwek Leng Beng’s CDL Expands In London With $370 Million Holiday Inn Deal ByIan Sayson ,  Forbes Staff.  Covering the Philippines and parts of Southeast Asia Follow Author Dec 02, 2025, 03:21am EST Share Save  The Holiday Inn London - Kensington High Street. Courtesy of City Developments City Developments Ltd. (CDL)—controlled by billionaire Kwek Leng Beng and his family—bought Holiday Inn London for £280 million ($370 million), expanding its hospitality footprint in the U.K. capital  Copthorne Hotel Holdings, a wholly-owned unit of CDL completed the acquisition of the 706-room Holiday Inn London in Kensington High Street at £396,600 per room, the Singapore-based developer said in a statement. The hotel sits on a 6,356 square meter freehold property, offering long-term development potential, it said.  With the purchase, City Developments said it owns two of the largest freehold sites in London’s most affluent districts of Kensington and Chelsea. The acquisition also boosts the group’s portfolio to over 3,000 rooms in Central London, where it owns six hospitality assets including the 833-room Copthorne Tara Hotel and the 611-key Millennium Gloucester Hotel.  “This is a once-in-a-lifetime chance to secure an ultra-prime freehold site in Central London,” Kwek Leng Beng, executive chairman of CDL, said the statement. “Freehold sites in this location are exceptionally scarce, and it is even rarer to find one directly adjacent to our Copthorne Tara hotel.”  The Holiday Inn hotel is located in a tranquil enclave that’s a two-minute walk to the bustling Kensington High Street, known for its upmarket boutiques, department stores, restaurants and cafes.  The hotel had an occupancy rate of over 97% in the nine months to September 2025. Total revenue in the last 12 months topped £39 million, and the hotel is expected to generate a running yield of over 6%, City Developments said.  The deal comes as City Developments seeks to bolster its finances by selling some of its assets. It has raised S$1.9 billion from divestments this year, strengthening its capital position and optimizing its portfolio as it accelerates redeployment of capital.  With a combined net worth of $14.3 billion, Kwek and his family are among the wealthiest clans in Singapore, according to the list of Singapore’s 50 richest that was published in September. Kwek is also executive chairman of Singapore’s conglomerate Hong Leong Group, which his father founded in 1941.His cousin Quek Leng Chan, also a billionaire, owns and runs a separate group in Malaysia, also called Hong Leong.  Got a tip? Share confidential information with Forbes. Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

城市發展有限公司

<p>新加坡城市發展有限公司（City Developments Ltd.）在億萬富翁郭令彬的領導下，以 3.7 億美元收購了倫敦假日酒店（Holiday Inn London），將其在倫敦市中心的房間總數擴展至超過 3000 間。此次收購包括位於肯辛頓的一處優質永久產權地塊上的 706 間客房酒店，增強了城市發展有限公司在該地區的酒店資產。這筆交易是城市發展有限公司加強財務狀況和優化投資組合戰略的一部分，今年該公司通過資產剝離籌集了 19 億新元</p>

億萬富翁郭令明的城市發展有限公司以 3.7 億美元的假日酒店交易在倫敦擴張