By NUR HAZIQAH A MALEK / Pic By HUSSEIN SHAHARUDDIN
Kerjaya Prospek Group Bhd is expected to secure a RM400 million contract to design and develop a Courtyard by Marriott property located off Jalan Klang Lama in Kuala Lumpur.
Kerjaya Prospek Group executive chairman Datuk Tee Eng Ho said the project would be undertaken on a joint-venture basis by the company’s subsidiary, Kerjaya Prospek Property Sdn Bhd (KPP), and Luxury Hotels International Management Co BV, a subsidiary of Marriott International Inc.
“The job is expected to be awarded to our private arm by year-end with an estimated value of RM400 million.
“We are still in talks with Marriott International on the contract value,” he said at the signing of a memorandum of cooperation (MoC) in Kuala Lumpur yesterday.
According to the MoC, Marriott International will operate the 276-room Courtyard by Marriott hotel for 10 years, while KPP will design and construct the proposed mixed development project slated for completion in 2022.
Tee said the group’s orderbook currently stands at RM500 million year-to-date and Courtyard by Marriott would bring the figure closer to its RM1 billion target.
“There is also no job slowdown in the outlook of the company. We will also maintain our orderbook target for 2019 at RM1 billion and we’ll see what happens from there,” he said.
Marriott International will also provide technical consultation on the development and design, while developing the marketing and branding strategies for the hotel.
Marriott International’s Asia-Pacific hotel development VP Peter Gassner said the company had considered other potential locations for the proposed hotel.
“However, we found that hotels connected to shopping malls are very successful in Kuala Lumpur. Hence, the proposal for a mixed development hotel,” he added.
The proposed hotel will be developed on a 2.1ha freehold land and has approximately RM1.1 billion in gross development value.
It would comprise a four-storey mall, office units, serviced apartments and a seven-storey car park. The soft launch is expected to take place in the first quarter of 2019.
KPP will also be shifting its entire corporate headquarters to within the same tower with Marriott International.