KB Group reveals 4-star resort development in Lumut

KUALA LUMPUR (Jan 23): Niche developer KB Group is planning to introduce its first 4-star resort, the Ramada Lumut Resort by end-January.

Established by Datuk Roslan Khalid in 2000, KB Group is focusing on the hotel and hospitality property segment. Ramada Lumut Resort is its second project.

Ramada Lumut Resort is a 4.7-acre luxury investment property with a gross development value of RM455 million. It comprises one 34-storey block of 269 serviced apartments (built-ups: 786 sq ft to 1,824 sq ft) and 170 serviced suites (built-ups: 380 sq ft to 532 sq ft). There are also seven exclusive forest villas (built-ups: 1,949 sq ft) behind the main block.

The selling price starts from RM400,000 or RM770 per sq ft. Buyers will enjoy 7% return guarantee per annum for the first three years after the project is completed, which is slated for end-2018.

“The resort is the only one in the region offering 72.9% nett rental returns over a 10-year period. This property investment solution provides excellent and reliable return on investment comparable, if not better than, many other investment options in Perak and even the Klang Valley,” Roslan stresses.

Upon completion, Ramada Lumut Resort will be backed by Ramada Worldwide, which is a mid-scale, full-service brand of the world’s largest hotel company -- Wyndham Worldwide, which has approximately 7,700 properties and more than 668,500 rooms in 71 countries.

Read the full story in the Jan 25 issue of City&Country, the property pullout of The Edge Malaysia business weekly. Subscribe here for your personal copy.

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