Latham & Watkins Advises Tokyo Century Corporation on Joint Venture With OUE Limited

Latham & Watkins has advised Tokyo Century Corporation (TC), a leading Japanese non-banking financial services company listed on the Tokyo Stock Exchange, and Salter Brothers, a leading Australian alternative investment fund manager, on the joint venture between TC (with Salter Brothers acting as TC’s investment manager) and SGX Mainboard-listed OUE Limited to develop Hotel Indigo Changi Airport, a new hotel at Singapore Changi Airport’s Terminal 2.

This is TC’s first outbound real estate investment in Singapore and will pave the way for a strategic partnership with OUE to pursue future real estate opportunities in Singapore and beyond.

Hotel Indigo Changi Airport is poised to become Singapore’s first zero-energy hotel, and potentially the first zero-energy airport hotel in the world, and will look to achieve operational energy neutrality by leveraging on TC’s expertise in solar power generation and sustainable energy solutions. The hotel is expected to be completed and fully operational by 2028.

The Latham team was led by Singapore corporate partner Michael Rackham, with associates Yiheng Luo and Jen Whee Lee. Tokyo partner Hiroki Kobayashi provided coordination support and acted as a local point of contact. Advice was provided on financing matters by Singapore partner Don Stokes; on tax matters by London partner Simon Skinner and associate Abi Abbott; and on antitrust matters by Paris partner Adrien Giraud and associate Louis-Victor Sachs.