SLB Development Ltd. announced that in partnership with Weave Living, the Group will jointly acquire the 17 shophouses currently operating as Hotel Clover in Jalan Sultan for SGD 74.8 million. Weave Living, with significant majority ownership, will be responsible for the re-designing and re-positioning of the hotel into serviced apartments, and for the day-to-day operation and management of this asset. The 2-storey property at Nos 17 to 33 Jalan Sultan has a total land area of 15,201 square feet and a total gross floor area of 35,000 square feet.

Comprising 17 adjourning shophouses, this property has a 99-year leasehold tenure starting April 2008.