Singapore’s Jaleel Family Buys Two Australian Hotels in $100 Million Expansion Push
Singapore’s wealthy Jaleel family has expanded its Australian hospitality investments by acquiring two hotels in Perth and Melbourne for approximately $100 million combined. JD Properties purchased the Pensione Hotel Perth for about $28.3 million and also struck a deal to acquire Melbourne’s Hotel Indigo on Flinders Lane for around $75 million. The acquisitions come just six months after the family bought Brisbane’s George Hotel for about $34 million. The rapid expansion highlights growing international investor confidence in Australia’s tourism and hotel market ahead of rising travel demand and major future events including the 2032 Brisbane Olympics.
The Jaleel family expanded its Australian hospitality empire with by acquiring $100 million hotels in Perth and Melbourne
Key Highlights
- JD Properties bought two Australian hotels for approximately $100 million.
- The properties include those in Perth and Melbourne.
- Sold for approximately $28.3 million; Perth Pensione Hotel
- Prince bought the $75 million Hotel Indigo Melbourne.
- It followed the later purchase this year of a hotel in Brisbane.
Jaleel Family Grows Business in Another Australian Hotel
Singapore-based JD Properties which is owned by the billionaire Jaleel family has expanded its Australian hotel portfolio with two purchases for $100 million in Perth and Melbourne. The latest acquisitions are part of the family’s fast growth into Australia’s hospitality and tourism sector.
These acquisitions happened just six months after the group acquired Brisbane's George Williams Hotel for some $34 million and rebranded as George Hotel Brisbane. The deal, which allowed for repayments in shares or cash, provided the Singaporean backers with some exposure to a growing tourism and hotel sector ahead of the Brisbane Olympics in 2032.
Two More Hotels Join Expanding Set of Perth and Melbourne Options
Property records show JD Properties, owned by the Jaleel family, bought the 98-room Pensione Hotel Perth for about $28.3 million. The vendor was a private syndicate including Naos Asset Management chairman Warwick Evans.
Part of this includes JD Properties also agreed to acquire Hotel Indigo Melbourne on Flinders for around $75 million. The 172-room hotel is managed by IHG and was sold earlier this year by Pro-Invest Group co-founders Ron Barrott and Sabine Schaffer. The transaction has yet to formally close.
Australian hospitality industry remains appealing to investors
The latest acquisitions come as international appetite for the Australian hotel and tourism sector grows amid a sustained rebound in travel demand. The major cities of Melbourne, Perth and Brisbane are seeing increased interest from overseas investors seeking long term hospitality investment.
Australia’s tourism and accommodation sectors are expected to receive a boost from increasing international travel, population growth and large upcoming events such as the Brisbane 2032 Olympics, analysts say. The latest venture by the Jaleel family demonstrates confidence in the long-term future of Australian hotels.
FAQs
- Who brought the two Australian hotels?
The hotels were acquired through JD Properties, owned by Singapore's Jaleel family
- Which hotels were purchased?
You acquired the Pensione Hotel Perth and the Hotel Indigo Melbourne on Flinders.
- How much did the Perth hotel sell for?
It sold for $28.3m.
4. Why are the Jaleel family investing in Australia?
The family is increasing its footprint in Australia’s growing hospitality and tourism sector.
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