UEM Sunrise aims for RM1.2 billion sales next year

This article first appeared in City & Country, The Edge Malaysia Weekly, on December 17, 2018 - December 23, 2018.

From left: UEM Sunrise’s CFO Mohamed Rastam Shahrom, Anwar, Koffler, UEM Sunrise GM, Retail & Assets Management Devamanokaran Poonagasu, and Hyatt House Kuala Lumpur GM Bennet Peter at the media conference.

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UEM Sunrise Bhd is looking to maintain its sales target of RM1.2 billion next year amidst challenging market conditions, managing director and CEO Anwar Syahrin Abdul Ajib said at a media briefing on Dec 12, after the soft launch of Hyatt House Kuala Lumpur in Mont’Kiara.

Hyatt House is the hotel component in Arcoris, a RM1.2 billion mixed-use development with another four components, including 262 business suites, SoHo units, serviced apartments and retail plaza. All saleable portions of the development have been fully taken up. The project is designed by Foster + Partners.

“The Arcoris development has always had this component — the hotel — in it. And it is an opportunity for us to explore other forms of income for the business,” Anwar said.

Asked if there will be more hotels in the future, he replied, “We will look at it on a case-by-case basis. If we look at future projects, it is still within our core business of property development. In Johor, we have Puteri Harbour and, as an example, there is a need for more hotel rooms as more and more facilities are being built. If, for example, we proceed with our plan of having a convention centre — I am not committing to that but just as an example — there will be a need for hotel rooms.

“Also, we have signed a joint venture with One Degree 15 in Singapore to build a private marina. Within that private marina in the clubhouse, there are about 70 suites to cater to the needs of the yachters who eventually come to the marina when it is completed in two years’ time. So, we need to assess on a case-by-case basis.”

Anwar revealed that new projects for UEM Sunrise are in various stages of planning. “There are some new phases in Serene Heights; we have got Aspira Park Homes and some shoplots in Gerbang Nusajaya; we are doing design work on our Kepong project; and so, hopefully, by the end of next year, we will launch it.”

To recap, UEM Sunrise acquired 72 acres in Kepong for a mixed-use commercial development, with an estimated gross development value of RM15 billion.

Meanwhile, the four-star Hyatt House Kuala Lumpur in Mont’Kiara will be the largest in the world, according to Michael Koffler, regional vice-president Hyatt Place/Hyatt House & Full-Service Franchise Operations, Asia Pacific Hyatt Hotels & Resorts.

Hyatt House comes with 298 rooms, 255 of which come in studio, 1-bedroom and 2-bedroom configurations, with a kitchen, a lounge and king-size beds. The 1 and 2-bedroom units will also have a washing machine-cum-dryer for extended stay guests, which the hotel is designed to cater for, Koffler highlighted. Guests who stay 30 plus nights will be part of Hyatt’s Very Important Resident (VIR) scheme, and be provided complimentary grocery shopping and other benefits.

Koffler believes medical tourists from the Doctor Global medical facilities close to Hyatt House will boost the occupancy of the hotel. They can enjoy the services and facilities while recuperating, or receiving treatment, with their families close by.

Hotel facilities include free WiFi throughout the hotel and guest rooms, The H Bar that offers drinks and home-cooked food all day, H Market for grab-and-go items, a Sky Pool, 24-hour gym, games room and four meeting rooms. Complimentary shuttle services are provided to nearby venues and the MRT station.