Monday, March 12, 2007

Bukit Kiara Properties buys hotel, eyes another

Bukit Kiara Properties Sdn Bhd (BKP) has acquired its first hotel in Malacca and is in the midst of buying a second hotel.

Managing director N. K. Tong said the first hotel, bought last August, had been self-sustaining and was expected to turn in some profit in the second year of operation after it had been refurbished.

Tong said an offer was made a few months ago for the second hotel. “We are in the process of finalising the sale and purchase agreement,” he told some 400 guests at the BKP annual business associates dinner at the soon-to-be completed Hijauan Kiara condominium in Mont' Kiara.

He said BKP would also be signing a memorandum of understanding to jointly develop 300 acres of land in the Klang Valley.

“We will work on some exciting plans that would likely take us between eight to 10 years to complete,” he said, adding that the company was also in the final phase of acquiring about 120 acres of freehold land in the Iskandar Corridor in Johor Baru.

BKP is in the final stage of formalising the deal. “We should be able to complete the exercise by the second half of this year,” Tong added.

He said the company had also put in an offer for a piece of land in the KLCC vicinity just before Chinese New Year.

“We will continue to look for other choice pieces of land in the city centre,” he said, adding that two new show units would be ready soon for the second block of the Verve Suites.

It would have a new marketing concept and should be a hit with prospective buyers, he said.

Source : STAR
[tags : ]

No comments:




Related Posts with Thumbnails