KSK Land granted RM650m syndicated financing for 8 Conlay Kempinski Hotel & Residences

KUALA LUMPUR (Dec 21): KSK Land, the property division of KSK Group Bhd, has obtained a RM650 million syndicated facility from Malayan Banking Bhd (Maybank) and Bank Pembangunan Malaysia Bhd (BPMB) for the completion of 8 Conlay Kempinski Hotel & Residences (Tower C), part of the 8 Conlay integrated development.

“KSK Land is positive on the post-pandemic outlook for the hospitality industry, where long-lasting brand prestige and value of luxury hotels such as Kempinski will still prevail among discerning travellers. Travel and tourism will see a recovery and rebound by then when the 8 Conlay Kempinski Hotel & Residences is completed in 2023,” said KSK Group chief executive officer (CEO) and KSK Land managing director Joanne Kua in a press release today.

8 Conlay, the three-tower integrated project located in the heart of Kuala Lumpur’s golden triangle, features the five-star Kempinski Hotel, a retail lifestyle quarters and two towers of branded residences called YOO8 serviced by Kempinski, curated exclusively by designer Steve Leung (Tower A) and Kelly Hoppen (Tower B).

To date, KSK Land has achieved more than 80% and 40% take-up rates for Towers A and B of YOO8 respectively. Upon completion, 8 Conlay will own the world's tallest twisted twin residential towers with a total of 1,062 units, including a water lounge on the 26th floor and a multi-tier green refuge on the 44th floor.

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