M101 Skywheel, a mixed-use freehold project in Malaysia’s capital with a gross development value (GDV) of RM2.2 billion, has been marketed in India.
According to Dato Seth Yap, CEO of developer M101 Holdings, the project is an engineering masterpiece that is anticipated to become a major attraction in Kuala Lumpur’s Kampung Bharu area.
The development will feature the tallest Ferris wheel in Southeast Asia perched on 52nd floor at 220 metres above ground that was designed by the world-famous Studio F. A. Porsche, the same firm behind the Singapore Flyer and the London Eye.
“Out of 1,000 units from M101 Skywheel’s phase one, 80 percent has been sold,” he said, adding that total sales have reached more than RM400 million.
“Upon completion, M101 Skywheel will be an international tourist destination, helping to maintain Kuala Lumpur’s spot as a unique destination.”
“M101 is championing ‘Property Tourism’ as our core business strategy. Instead of building just another integrated development, we are building a branded development that fits the market’s needs, and will further elevate Malaysia’s tourism industry,” noted Yap.
Aside from housing the Asia’s first Planet Hollywood Hotel, the integrated development will also comprise a 26-storey hotel, 96 luxury residences, 900 SOHO units, and the 200,000 sq ft SkyMall on the 50th and 52nd floor.
“This project is supported by the Malaysian government. While other developers are looking at bread and butter products, M101 has taken a bold innovative step to champion property tourism,” said Tourism and Culture Minister YB Dato’ Seri Mohamed Nazri bin Abdul Aziz who accompanied Yap in the marketing campaign in India.
“By partnering with international brands such as Studio F. A. Porsche and Planet Hollywood, M101 not only stimulates the property market, but also adds value to the local economy,” he added.
Located near Station 15 of the second MRT line, M101 Skywheel is expected to be completed by 2020.
Image sourced from M101 Skywheel.
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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