Singapore, 5 April 2016 – Metro Global Pte Ltd announced today that it has entered into a joint venture agreement with Oxley Holdings Limited (“Oxley”), a home-grown lifestyle property developer to provide hospitality services in Singapore and any other countries which the parties may agree from time to time.
Metro Global Solutions Pte Ltd (“MGSPL”), the joint venture company to be equally owned by Metro Global and Oxley will be incorporated to offer hospitality services, which include amongst others, hotel management, asset management, facilities management, property management, maintenance services, security services and housekeeping services, whereby Metro Global will manage the business operations and financials of MGSPL, including the provision of personnel support and preparation of annual operating budget. MGSPL will commence operations in managing a portfolio of properties which is provided and/or solicited from Oxley.
This is a significant business milestone and Metro Global is very excited to collaborate with Oxley to manage their properties.
With its diverse business portfolio, Metro Global will contribute to the hospitality services joint venture which enhances Oxley’s existing business portfolio.
Oxley Holdings Limited is a home-grown property developer with a diversified portfolio including property development, property investment and project management. Listed on the Main Board of the SGX-ST with a market capitalisation of approximately S$1.2 billion, Oxley currently has a business presence in nine geographical markets, namely, Singapore, the UK, Cambodia, Malaysia, Ireland, Indonesia, China, Japan and Myanmar.
Since Oxley’s incorporation in March 2010, it has launched a portfolio of 28 developments locally, one waterfront township development in London, UK and two mixed-use developments in Phnom Penh, Cambodia. Oxley’s developments are typically located in choice areas that are easily accessible. Most of its projects incorporate retail elements, and lifestyle features and facilities.
About Metro Global
Metro Global is an international company headquartered in Singapore conducting operations throughout Asia Pacific, Europe, Middle East and North America. Metro Global boasts a diverse business portfolio which includes hotel management, asset management, property management, hospitality services, procurement services, information technology solutions and hospitality education. Metro Global has over 50 years of hospitality industry experience and currently manages about 4,352 keys which is approximately US$1 billion in assets and have several projects in preliminary stages of development.
Chief Operating Officer