KUALA LUMPUR: Sentoria Group Berhad (Sentoria) plans to expand the facilities and accommodation capacity in Bukit Gambang Resort City (BGRC) with its new project Arabian Bay Resort (ABR). Established in 1998, Sentoria Group Berhad is the developer and operator of BGRC in Kuantan, Pahang.
With the development of ABR, Sentoria will increase its accommodation in the resort City in Kuatan, Pahang from 998 units to 1,864 units. ABR has a gross development value of RM92 million. It will comprise the Arabian Corporate Centre for corporate events and a ballroom that can accommodate 2,000 people. Meanwhile The ABR suites have sizes ranging from 413 sq ft to 738 sq ft with a price tag of RM132,800 to RM178,800.
Bukit Gambang Resort City sits on 547-acres and is one of the largest integrated resort cities in Malaysia. The resort features the Bukit Gambang Water Park and Active Academy as well as meetings, incentives, conventions and exhibitions (MICE) facilities and accommodation. ABR is expected to be completed by September 2012.
According to Nasiruddin Nasrun, Sentoria head of public and investor relations, the accommodation increase is in line with the rising number of guests including from the Klang Valley and Singapore. He said this at the signing of the underwriting agreement in conjunction with its upcoming initial public offer (IPO) to list on the main market of Bursa Malaysia recently.
Sentoria recently signed an underwriting agreement AmInvestment Bank Berhad, Inter-Pacific Securities Sdn Bhd, Mercury Securities Sdn Bhd, Kenanga Investment Bank Berhad and OSK Investment Bank Berhad for the underwriting of 20 million shares for public balloting and 10 million shares for eligible directors, employees and business associates of the group. Barring any unforeseen circumstances, Sentoria is slated to list in the first quarter of 2012.
"We intend to continue developing BGRC to become one of the preferred leisure and hospitality destinations in Malaysia," concluded Nasiruddin.
The group has also developed affordable housing primarily in Kuantan, Pahang and has a track record of delivering properties ahead of time and adding development value to acquired lands.
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