PTS Properties previews The Pines Melaka

MELAKA (Aug 6): PTS Properties Sdn Bhd previewed its RM120.9 million The Pines Melaka, a 4-star luxury condominium hotel on July 10. The units have been fully sold to a mix of local and foreign buyers, with leaseback of 7.5% per annum for the first nine years and 9% for the following six years after that.

The 28-storey condominium hotel is located at Jalan Tun Sri Lanang adjacent to the Air Keroh toll, the gateway of Melaka town centre and is accessible via public transport and the popular Melaka River Cruise.

"We are expecting The Pines Melaka occupancy rate to be at 78%" said Ken Yong, the General Manager of The Pines.

The Pines Melaka features 390 guestrooms, where they range from 334 sq ft to 990 sq ft. The Standard suites, with built-ups from over 492 sq ft have a nightly rate currently ranging from RM198.00++ to RM 680++.

Each guestroom also features the finest beds and bedding, desk with chair, flat screen television, refrigerator, safe with electrical outlet, custom The Pines Melaka amenities, iron and ironing board, bathrobes, hairdryer, cosmetic mirror, slippers and artworks by local artists.

“The company is thrilled to showcase The Pines Melaka. The hotel will complement the city’s hospitality industry with its dynamic blend of décor and design” said Boo Kuang Loon, the chief executive officer of PTS Properties.

PTS Properties has developments in Melaka and the Klang Valley. It is principally involved in property development, construction, sales and leasing for residential and commercial properties, hotel management and property management.