PETALING JAYA: The Kuala Lumpur City Centre’s (KLCC) collection of superlatives is growing with the launch of the Four Seasons Place tomorrow. Sited on just slightly more than 1 hectare, the new addition to that area is set to change the city’s skyline. The iconic brand, synonymous with luxury and prestige, will launch its Malaysian chapter tomorrow.
Located beside the Petronas Twin Towers and fronting Jalan Ampang, the hotel, serviced residence and retail concept will occupy 1.4 million sq ft of space, of which about 238,000 sq ft, or 20%, is expected to be allocated for luxurious retail, a source said.
The 65-storey Four Season Place will be the second highest building in the KLCC vicinity after the 88-storey high Petronas Twin Towers. MenaraMaxis, which is adjacent to it, is 49 storeys high. The serviced residences, marketed by property portals at between RM2,500 and RM2,800 per sq ft, will also be among the highest on a per sq ft basis in the Klang Valley.
The new design will be launched by Prime Minister Datuk Seri Najib Tun Razak. It will be the first Four Seasons Place in South-East Asia, and the third in the world.
It is being built by Venus Assets Sdn Bhd, a firm controlled by Ipoh-borntycoon Ong Beng Seng, Tan Sri Syed Yusof Tun Syed Nasir and Selangor’s Sultan Sharafuddin Idris Shah.
Ong currently owns Four Seasons resorts in Bali, Singapore and the Maldives, via his controlling stake in Singapore-based Hotel Properties Ltd while Syed Yusof, or JoJo as he is fondly known, has carved his name and fortune via his ventures in property and the entertainment industry.
He has brought in international artistes such as Michael Jackson, Kenny G, Ricky Martin and Linkin Park to Malaysia via his company Jojo Entertainment. He is also a close confidant of the Selangor Sultan and handles the business interest of the royalty. Both of them own six hotels in the country under the Concorde Hotels & Resorts and Casa Del Mar banner (in Langkawi). Also under their wings are the Hard Rock Café and Planet Hollywood chain of restaurants.
The Four Seasons Place was first approved in 2007, but the development was shelved when worsening economic conditions triggered a global meltdown in the financial world, coupled with the project going back to the drawing board.
It was reported that the gross development value of the project may exceed RM2.5bil.
Source: The Star http://biz.thestar.com.my/news/story.asp?file=/2013/1/29/business/12638426&sec=business