Food
Property developer M101 Holdings Sdn Bhd is partnering with the US toy company Hasbro Inc for the world’s first Monopoly-themed hotel, which will be located at its existing mixed development project called M101 Bukit Bintang.
The mixed development project, situated in Bukit Bintang area, include small office flexible office (SoFo), retail lots and hotel suites.
“The GDV for this development is around RM280 million. We have started construction works two years ago and we expect to hand over the project by end of this year,” M101 CEO Datuk Seth Yap said at the licensing agreement signing ceremony with Hasbro today.
“Our underlying concept is to collaborate with international renowned brands, a unique and interesting brand that you might not think is possible for a hotel. And there is a lot of international brands that are willing to work with us,” he added.
M101 had previously announced its collaboration with brands such as Planet Hollywood and Studio F.A Porsche to deliver exclusive suites in its M101 Skywheel project in Kuala Lumpur.
Upon completion, Yap said the five-star boutique hotel, to be known as Monopoly Mansion by Sirocco, will be managed and operated by the developer’s hospitality arm Sirocco Hospitality Group.
The Monopoly Mansion will feature 255 luxurious guest rooms, a rooftop pool and sky lounge, a sky ballroom, meeting lounges and a spa.
To date, Yap said, M101 has launched three projects with a total gross development value (GDV) of RM2.6 billion, namely RED by Sirocco, M101 Skywheel as well as M101 Bukit Bintang.
On its 2018 outlook, he said this year the group will see a slowdown in terms of sales, as it will be focusing more on its existing projects and project launches.
He noted that the group’s M101 Skywheel project, which has seen a take up rate of 80% for Phase 1 of its SoFos, registered about half a billion ringgit sales last year.
The project is targeted to be completed by 2022.
Going forward, Yap said the group plans to expand its regional presence in Bintan and Bali, Indonesia, as well as Thailand. Currently, the group has presence in 15 countries including China, Brunei, Taiwan, Bangladesh and Sri Lanka.
