The firm also plans to develop 3 residential property projects this year, says COO
by S BIRRUNTHA / Pic credit: hapsengland.com
HAP Seng Land Sdn Bhd, a wholly owned subsidiary of Hap Seng Consolidated Bhd (HSCB), plans to develop and build five hotels over the next few years.
COO David Khor said three of the proposed properties would be developed in Kuala Lumpur (KL) at locations in Jalan Kia Peng, KL Metropolis and the newly purchased Wisma KFC, while the other two would be developed in Sabah.
“The hotels will then be managed by two brands of international hotel companies, namely Hyatt Hotels & Resorts — which will operate four of our hotels — and one by Marriott International Inc.
“This is the first time the group has ventured into the hotel business and we believe it will bring recurring income,” he said at the Malaysia Book of Records award handover ceremony for the Highest Indoor Vertical Green Wall at Menara Hap Seng 3 in KL yesterday.
Khor said Hap Seng Land also plans to develop three residential property projects this year.
The three projects will be developed in Sabah and Sungai Buloh, Selangor respectively, without revealing the location for another residential project in west Malaysia.
Despite the financial commitments the proposed projects will need, Hap Seng Land aims to continue its acquisition activities of either land or existing buildings this year, Khor added.
“We believe now is the best time and opportunity to make an acquisition because the market conditions are not that good,” he added.
Hap Seng Land made it into the Malaysia Book of Records yesterday for the “Highest Indoor Green Wall”.
Sprouting with lush flora in Menara Hap Seng 3, the indoor green wall boasts a beautiful contrast between the natural landscape and the architectural feat of the building.
Speaking at the event, HSCB group chairman Thomas Karl Rapp said Menara Hap Seng 3 is the latest addition to Plaza Hap Seng, which comprises Menara Hap Seng and Menara Hap Seng 2.
All three towers are seamlessly connected where occupants of the various towers are able to enjoy a much wider range of conveniences in the likes of food and beverage outlets, banking halls, medical and dental clinics, and business meeting facilities.
“Designed by Skidmore, Owings & Merrill, the world-class architects headquartered in Chicago, Menara Hap Seng 3 features a 91.55m high indoor green wall, spanning across all 20 levels of office space.
“Amassing over 27,000 individual pots comprising 10 different plant species, the indoor green walls within the atriums of the tower funnel sunlight into the office spaces, thereby creating a lush and invigorating working environment for all occupants of Menara Hap Seng 3,” Karl Rapp said.
He said the award is another feather in the cap for Hap Seng Land in line with its commitment to strength in innovation and foresight in quality and sustainable designs.
Hap Seng Land GM Allan Teh said the Menara Hap Seng 3 was built with nature in mind.
“The wall is not only the masterpiece of the building, but also sets the tone for the entire building’s internal open areas.
“This feature illuminates the office levels in Menara Hap Seng 3 and brings light to every discussion and visit,” he said.
According to Karl Rapp, although the demand for office space is somewhat muted at this stage, the group’s primary focus is in ensuring the health, safety and wellbeing of its tenants and visitors.
He said the Hap Seng group has launched various collaborative initiatives to ensure the group stands shoulder-to-shoulder with its tenants during these challenging times.
Moving forward, Karl Rapp said Hap Seng expects 2022 to remain challenging with the tailwind of the Covid-19 pandemic.
“The Covid-19 pandemic has presented every one of us with a whole new way of living, a whole new way of doing business, a whole new way of commuting and the like, not to mention the challenges along the way.
“We are optimistic the Hap Seng group will continue to grow its revenue and profit this year with the full reopening of all economic sectors,” he said.
He added the group has made a conscious and deliberate effort to streamline and consolidate its business operations in the last two years.
This is reflected in all the group’s business divisions, namely plantations, credit financing, trading, building materials, automotive, as well as property investment and development.