Sunday, September 15th, 2019
WASHINGTON, Sept 15 — A year ago, US Federal Reserve Chair Jerome Powell held a “remarkably positive outlook” for an economy enjoying a “historically rare” combination of good news including low unemployment, steady inflation and strong…
PETALING JAYA, Sept 15 — Tourism Malaysia is expecting tourist expenditure to rise by eight per cent this year from RM28.1 billion recorded last year. Its director-general, Datuk Musa Yusof, said one of the aspects that could help boost the amount…
LONDON, Sept 15 — The oil market will rally by US$5-10 per barrel when it opens tomorrow and may spike to as high as US$100 (RM416) per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and…
RIYADH, Sept 15 — Saudi Arabia will use its vast oil reserves to offset disruption to production after an attack on two major oil facilities, its energy minister said today. The drone strikes yesterday on national energy giant Aramco’s…
KUALA TERENGGANU, Sept 15 — The Terengganu government targets the opening of five more T’Mart outlets within three years towards producing more entrepreneurs in retail business in the state. State Entrepreneurship, Micro Industry and Hawkers’…
DUBAI, Sept 15 — The head of the United Arab Emirates’ General Civil Aviation Authority said today he was not optimistic that the Boeing 737 MAX would return to operations this year and that the first quarter of 2020 was more likely. The 737 MAX…
KUALA LUMPUR: Villamas’ meta_city status in Seri Kembangan is set to soar with international brands coming onboard the integrated development.
For the hotel component, Villamas has roped in international hotel franchise Aloft Hotels for the third Aloft hotel in Malaysia, after KL Sentral and Langkawi. The 276-room Aloft Hotel Seri Kembangan (meta_loft) by Marriott International is slated to open in 2024.
“Getting Aloft into meta_city says a lot, that even an international renowned brand has the confidence in our location and development. It’s a good morale and confidence boost for us. The Aloft DNA suits our development, which is aimed at the young and energetic,” explained Gan.
For the residence component, meta_residence will be built within three towers identified as Lux Soho (Tower A), Lux serviced residence (Tower A), Bliz (Tower B) and branded suite (Tower C).
For the branded suites, Gan plans to bring in an international brand to operate the 320 units of serviced suites at its upcoming 32-storey Tower C.
“We’re still in negotiation with a few parties. We keep the best for last. Having all these international brands really increase the exposure and visibility of the development. We have the best connectivity of the MRT and we believe all these blend well together. We have the vibrancy and energy,” said Gan.
The 38-storey Tower A will offer 396 units of 450 sq ft Soho and 594 units of 659 sq ft & 864 sq ft serviced apartments, from RM280,000 onwards. Tower A has sold about 60%.
Meanwhile, the 38-storey Tower B of 462 units of serviced apartment (Bliz) consists of Type D (231 units of 757sq ft), Type E (165 units of 960 sq ft) and Type F (66 units of 1,230 sq ft), from RM480,000 onwards with dual-key options. It plans to launch Tower B by year-end or early next year.
For its retail component, Villamas will be operating its first mall meta_mall in six year’s time. The mall is set to be a lifestyle concept mall with a variety of retailers, including anchor tenant Farm In The City.
For the office component, meta_tower will comprise a 13-storey office tower housing spacious and flexible office suites.
KUALA LUMPUR: There’s a first time for everything, just like how boutique developer Villamas Sdn Bhd (Villamas Group of Companies) is experiencing many firsts in its biggest development to date, the RM1.8 billion integrated development meta_city in Seri Kembangan.
The project is its first venture beyond its usual residential development into an integrated lifestyle-driven mixed development, marking its foray into a mall, hotel and office development, as well as being a first-time mall manager.
Villamas CEO Gan Teck Seong said meta_city is set to transform the landscape of Seri Kembangan as a transit-oriented development. With the connectivity of the MRT, meta_city will comprise serviced apartments and branded suites (meta_residence), office tower (meta_tower), shopping mall (meta_mall) and an international hotel (meta_loft) over the next decade.
“Just in one development there are many firsts. Although we’ve been in residential (development), we’re always in touch with all these development. We’re very confident we can manage it but at the same time, it’s our first time, so it’s exciting,” Gan told SunBiz in an interview recently.
meta_city is a breakthrough for Villamas, which realised five years ago that it needed to do things differently and have a development that is more holistic, catering to more lifestyle needs due to the intense competition among developers.
“We can’t be building just an apartment. One step ahead is to create a mini township with retail, offices, different mixed activities, all within the same development. We’re also trying to get away from the competition,” said Gan.
Villamas is a family business, started by Gan’s father. From its humble beginnings in 2000, the company has experienced organic growth. Gan’s sister is also a director in the company.
“We started our first apartment project Villamas Apartment in Puchong Jaya, our first break into slightly bigger scale development and we never looked back since.”
Some of Villamas’ projects include The Andes @ Bukit Jalil, Verde @ Ara Damansara, Serin Residency and Zefer Hill Residence.
Being a boutique developer implies that it has lesser projects compared with other developers, but Gan said this means that it is focused on what it does and sees this as its uniqueness against others.
“When we ventured into meta_city, we see that we can do things differently. We can JV (joint venture), take up old buildings, do investments,” explained Gan, adding that going forward, it may go into investment holding and property management, in addition to build-and-sell, just like in meta_city, or even venturing into fields out of property like a retailer or restaurant operator.
“Here we can influence the performance of the assets and in return it will be a win-win situation for our purchasers and us. Hopefully we’ll have stable income from the rental and property yield and at the same time we carry on with our developments.”
RIYADH, Sept 15 — Saudi shares dropped 3 per cent at the start of trading today, the first session after drone attacks on two major oil facilities knocked out more than half the kingdom's production. The Arab world's largest capital market shed…