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10 New Hotels in M'sia for Accor

PUTRAJAYA: International hotel operator Accor announced its plans to establish 10 new hotels in Malaysia as part of its robust expansion plan in the country.

According to Accor Malaysia, Indonesia & Singapore vice president Gerard Guillouet, the ten new hotels will add significantly to Accor's presence in Malaysia, as the success of its four existing hotels provides the confidence to aggressively expand its network of hotels in Malaysia.

"The success of these ventures is due to Accor's business model, whereby Accor brings its international expertise in the fields of hotel construction, product concept, design and branding, as well as its global sales, marketing and distribution network, and co-operates with partners having local expertise and investment knowledge. This has encouraged and given us the confidence to aggressively expand our network with 10 more new hotels that are to be opened next year and 2014," he said.

The 10 hotels announced together with their forecasted date of completion are: Pullman Kuala Lumpur, 513 rooms (2012); Pullman Port Dickson, 318 rooms (2014); Novotel Melaka, 320 rooms (2013); Novotel Klang Valley 1Gateway, 187 rooms (2013); Ibis Styles Fraser Business Park Kuala Lumpur, 500 rooms (2012); Ibis Styles Cheras, 156 rooms (2012); Ibis Styles Johor Bahru, 179 rooms (2013); Ibis Styles Kota Kinabalu Inanam, 165 rooms (2013); Ibis Styles Lahad Datu, 108 rooms (2013); and Ibis Styles Ipoh, 118 rooms (2013).

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Office Property Market Seen Stable

KUALA LUMPUR: Malaysia's office property market is likely to remain fairly stable next year, but oversupply is expected in the next 18 months, says CB Richard Ellis (CBRE) Malaysia Sdn Bhd, a property consultancy firm.

The oversupply situation is due to a competitive rental market, its executive chairman Christopher Boyd told reporters after a luncheon talk on "Klang Valley Property Market Overview", hosted by MIDF Amanah Investment Bank Bhd here today.

However, he said, the arrival of multinational corporations in Kuala Lumpur due to the low operating costs as well as the young and well-educated population would help stabilise the office market.

Boyd said the supply situation has improved from two quarters ago, with some projects being pushed back or cancelled, but others are still on the drawing board.

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M’sia Lacks Good Hotels

PUTRAJAYA: Malaysia still needs more high-end hotel rooms to cope with the current influx of tourists into the country.

Tourism Minister Datuk Seri Dr Ng Yen Yen said the country is currently short of four- and five-star hotels, especially during peak travel periods.

“We are not short of budget hotels or hotels that are rated three-star and below.

“However, when it comes to high-end hotels, tourists often complain that they couldn't get rooms,” she said after launching the “Destination Malaysia Website” by international hotel operator Accor here yesterday.

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High Demand for Industrial Properties in Iskandar

JOHOR BARU: Property developers in Iskandar Malaysia have been urged to venture into industrial park projects due to a surge in demand for industrial properties here.

Johor executive councillor for international trade and industry Tan Kok Hong said it was timely for developers to focus on this segment apart from the residential properties area. “Johor is still strong in the manufacturing sector and it remains one of the top three destinations for foreign direct investments (FDIs) in the country,’’ he said.

Tan said this at the signing ceremony between Telekom Malaysia Bhd and UMLand Bhd’s subsidiary Dynasty View Sdn Bhd for the deployment and provision of TM’s high speed broadband (HSBB) network infrastructure and services.

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Johor Premium Outlets Grand Opening on Dec 11

KUALA LUMPUR: Johor Premium Outlets (JPO), a shopping haven joint-venture project between Genting Bhd and Simon Property Group, is scheduled for a grand opening on December 11.

The project, located in Kulai, Johor, is 95 per cent complete, said Datuk Seri Idris Jala, chief executive officer of Pemandu, the government unit that oversees the implementation of the Economic Transformation Programme (ETP).

JPO, a project earmarked under the ETP to boost the economy via tourism, is expected to create more than 3,000 jobs.

"It is currently 95 per cent completed. More than 80 designer and brand names have confirmed their presence," Idris said at a briefing here yesterday that marked one year since the ETP was launched.

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Lend Lease Projects to Focus on End-to-End Property Solutions

KUALA LUMPUR: Project management company WTW Bovis and Bovis Lend Lease has been rebranded as Lend Lease Projects.

All businesses in the Lend Lease Group throughout the world are now operating under one brand, "Lend Lease".

According to Lend Lease, it is implementing a unified brand to clear up confusion in some areas of the marketplace about who Lend Lease is and what it does. It is also to assist the group to drive maximum value from its integrated offering.

Lend Lease's managing director in Malaysia, Dinesh Nambiar, said Lend Lease has been operating in the Asian market for 38 years, and in Malaysia for 30 years.

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KL Metro Gets Encouraging Demand for The Hibiscus

PORT DICKSON: Kuala Lumpur Metro Group (KL Metro) has received encouraging demand for The Hibiscus water homes in Pasir Panjang near here.

Phase one comprising 108 luxury villas had been sold out and 85 percent of the buyers were from overseas, KL Metro Managing Director Datuk Low Tak Fatt told reporters today.

"We are confident that the balance 534 luxury homes will be fully taken up by end of 2013," he said after the launch of another project by the company, Grand Lexis Port Dickson, at Tanjung Gemok near here.

The ceremony was officiated by Negeri Sembilan Menteri Besar Datuk Seri Mohamad Hasan.

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Come 2020, Malaysia Needs Additional 8,600 Five-star, 31,300 Four-star Hotel Rooms

PUTRAJAYA: Come 2020, the country needs an additional 8,600 five-star and 31,300 four-star hotel rooms to achieve the target of 36 million tourist for that year.

Tourism Minister Datuk Seri Dr Ng Yen Yen said that even currently, there were insufficient five-star and four-star hotels as the ministry often received complaints, especially during peak season.

"The location to build these types of hotels however, depends on the operators, and by looking at the government tourism direction.

"(For example) Now that the government is spending millions of ringgit to build infrastructure in Langkawi (Kedah), it needs more five-star and four-star hotels.

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CBRE: Oversupply of Office Space by 2014

KUALA LUMPUR: The mega projects to build more skyscrapers in Kuala Lumpur city centre that are in the pipeline will result in an oversupply of office space in the Klang Valley by 2014, said CB Richard Ellis (M) Sdn Bhd executive chairman Christopher Boyd.

“We are looking at a picture where supply [of office space] is going to likely outstrip demand,” he said at a luncheon talk hosted by MIDF Amanah Investment Bank Bhd last October 31.

“This year alone, new supply was over four million sq ft which is already in excess of demand even in a good year,” said Boyd, pointing out that demand for new office space averaged two million to three million sq ft net in the Klang Valley.

“Next year we are looking at six million sq ft [in new office space]. It [supply] will fall in 2013 but in 2014 we’re looking at 10 million sq ft,” he said.

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Mubarak, SSF Properties Ink Deal On RM10.85 Million Project

KUALA LUMPUR: The Malaysian Ex-Elected Representatives Foundation (Mubarak) and SSF Properties Sdn Bhd today signed an agreement to jointly develop a 0.32ha parcel of land belonging to Mubarak.

Mubarak president Datuk Seri Abdul Aziz Rahman said the project, comprising three-storey shophouses and a four-storey office building with a gross development value (GDV) of RM10.85 million, will be built on land near Batu Caves, Selangor.

The site is adjacent to the Shell petrol station about 20m from Batu Cantonment near the Duta-Hulu Kelang Expressway (DUKE).

Mubarak will receive 30 per cent of the GDV or about RM3.255 million either as cash or office building, which it plans to make its operations centre, Abdul Aziz told reporters at the agreement signing here yesterday.

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