M101 to launch eight projects with GDV of RM3b

KUALA LUMPUR, March 17 2014 — M101 Holdings Sdn Bhd aims to launch eight development projects with a total gross development value (GDV) of RM3 billion in the next three years, said Executive Director Datuk Chua Eng Pu.

Chua said the projects would feature an 'all-in-one' integrated commercial and retail development, comprising SOFOs (small office flexible office) hotel, impressive retail and lifestyle amenities.

“We have completed one project last year and plans to build three more this year with a total GDV of RM1 billion.

“The developments will be located mainly at the tourist attraction areas such as KLCC, Bukit Bintang and Raja Chulan,” he told a media briefing after the launching ceremony here today.

Earlier, the company signed a memorandum of understanding (MOU) with Trinidad Hospitality Sdn Bhd, a management company that operates Best Western Hotel in Malaysia, as a partner for the M101 development.

The Best Western Hotel chain is the largest hotel chain in the world.

M101 also signed a MOU with China-based company, China Railways Construction Corp, as the contractor for the whole M101 project.

Chua said the project was targeted at overseas buyers as they now looked at Malaysia as a property investment destination. — Bernama

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