Out Of Limbo

After eight years and a big court battle, the final piece of Pua Seck Guans landmark Singapore property project is now open.

- Jane A. Peterson

For nearly three years it’s been an odd sight in Singapore’s Civic District. The centerpiece of the $800 million Capitol development project—two colonial landmarks transformed into a luxury hotel—appeared to be finished, but then didn’t open. No limousines dropping off dignitaries. No Michelin-starred chefs whipping up extravagant meals. No wealthy visitors loaded down with shopping bags.

This month the opulent, 157-room hotel finally opened, under the Switzerland-based Kempinski brand. It’s the end of a bruising battle that pitted two of Singapore’s top real estate tycoons against each other before culminating in a drawn-out court case. Despite losing in court, Pua Seck Guan and his Perennial Real Estate Holdings emerged with full control. The task ahead: to turn his project on Stamford Road—which includes the iconic Capitol Theatre, the vast Capitol Piazza shopping center and a ten-story, newly built condominium tower— into a moneymaker.

For now, Pua is happy that the Capitol Kempinski Hotel Singapore is at long last receiving guests. “It could be better than Raffles,” he says, “This is the top of the five-star category, not an ordinary five-star.” More than 15 chains bid for the management contract, but Pua and his partners liked Kempinski, Europe’s oldest luxury brand, because it focuses solely on luxury, avoiding the distraction of three- and four-star venues. It’s privately held Kempinski’s first hotel in the city as it expands in Asia, joining Kempinski hotels in Bangkok and Jakarta; Bali follows next year and Kuala Lumpur in 2020.