KUALA LUMPUR: The new mixed development 1Likas in Kota Kinabalu, Sabah will feature Starwood Hotels & Resorts Worldwide’s fourth Four Points by Sheraton hotel in the country.
With a gross development value of RM850 million, 1Likas is a joint development between Gandingan Erajuta and Sabah Energy Corp Sdn Bhd (SEC), as the landowner.
The almost four-acre development is located at Likas Bay, accessible and visible from the coastal road, Jalan Tun Fuad Stephens, and minutes away from the city centre.
The integrated development comprises a 13-storey office tower Menara SEC, 57 shop lots, 28 office lots, a boutique hotel and/or college, residential towers including a “super” condominium tower, and the international hotel.
The RM120 million Four Points by Sheraton Kota Kinabalu will be in a 28-level tower offering 234 rooms. The hotel is expected to be completed by 2016.
The signing ceremony between Starwood Hotels and Resorts Worldwide and developer Gandingan Erajuta was held yesterday.
Signing on behalf of the developer was executive director Izaddeen Daud while Starwood Hotels and Resorts senior vice- president of acquisitions and developments (Asia Pacific) Matthew Fry represented the international hotel chain.
|(From left) Fry, Izaddeen, Tan, Abbott and Chan looking at the 1Likas model.|
Also present at the signing were 1Likas’ turnkey contractor Sagajuta (Sabah) Sdn Bhd managing director Datuk Raymond Chan and executive director Tan Tiang Lai.
“Because of its prime seafront location, we want to add value and prestige to the development by securing a global hotel brand. Four Points by Sheraton is exceptionally suitable for our development. Foreign and local businessmen will find it convenient and comfortable to stay and to conduct business,” Izaddeen said.
Award-winning real estate agency Zerin Properties secured Four Points by Sheraton for Gandingan Erajuta.
“We are excited to be working in partnership with Gandingan Erajuta to develop best-in-class hotels in one of the fastest growing cities in Malaysia. We are delighted that our expansion plans are going from strength to strength in Malaysia. Four Points by Sheraton Kota Kinabalu is not only a valuable addition to our fast growing portfolio in Malaysia but indicates that Starwood is responding to a growing need for mid-market hotel accommodation in Malaysia,” Starwood’s regional vice-president (Southeast Asia) Chuck Abbott said.
There are currently two operational Four Points by Sheraton hotels in Malaysia, located in Langkawi, Kedah, and Kuching, Sarawak.
Abbott said the third Four Points by Sheraton will open in Sandakan, Sabah, soon. The 298-room Four Points by Sheraton Sandakan, which is part of the Sandakan Harbour Square development, is expected to open in March 2012.
“Currently, we have nine hotels in operation for Starwood [in Malaysia] and we would certainly like to double that within the next 12 to 18 months. We have approximately six that are either signed or under construction now.
“There are not a lot of branded hotels in [Sabah and Sarawak], which is strong in eco-tourism and the oil and gas sector. Starwood also has two other four-star hotel brands — Aloft and Element — which would be beneficial to [Sabah and Sarawak] as well,” Abbott said.
According to a report late 2010, London Stock Exchange-listed Aseana Properties Ltd, which is developing two office blocks and hotel together with Malaysian Resources Corp Bhd in KL Sentral, was in advanced negotiations with Starwood to manage the hotel under its Aloft brand. The hotel is expected to be completed in 2H12 with a gross floor area of 350,000 sq ft.
This article appeared on the Property page, The Edge Financial Daily, November 11, 2011.
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