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Oxley boosts portfolio with new hotel in Malaysia
SINGAPORE developer Oxley Holdings, via its subsidiary Oxley Rising Sdn Bhd, has inked management agreements with Dubai's Jumeirah Group to operate a 190-room luxury Jumeirah hotel and to brand 273 premium residences in Kuala Lumpur.
The Jumeirah Kuala Lumpur hotel and Jumeirah Living Kuala Lumpur residences will be located in one of the three towers of a mixed-use development slated to come up in the Kuala Lumpur City Centre precinct.
The three towers, linked through a retail podium, will be situated close to the Petronas Twin Towers, Maxis Tower and the Kuala Lumpur Convention Centre.
Construction of the 12,500-square-metre development will start next year. It is expected to be completed in 2021.
The Jumeirah Living Kuala Lumpur residences will be located on the lower floors of the tower, and Jumeirah Kuala Lumpur hotel will occupy the upper floors.
Ching Chiat Kwong, chairman and chief executive of Oxley, said: "This partnership with Jumeirah Group further enlarges and reiterates our presence in the Malaysian market."
This latest hotel in Malaysia boosts the number of hotels in the region to five for Oxley.
Oxley said it is looking to launch more hotel developments in Malaysia, Cambodia and Indonesia as part of its strategy to expand its investment in property.