MALAYSIAN Resources Corp, the builder of the central transport hub in Kuala Lumpur, and CMY Capital Sdn Bhd will build a St. Regis development in the city to tap rising tourist arrivals.
The project will feature a 200-room hotel and 200 apartments, Starwood Hotels & Resorts Worldwide Inc, which will operate the hotel, said today in a statement, without giving a value for the development.
Jitra Kerkasa Sdn. is the other building partner.
The St. Regis development will be located at the KL Sentral transport centre in Kuala Lumpur, already home to the Hilton and Starwood’s Le Meridien hotels.
CMY Capital owns 60 per cent of One IFC Sdn Bhd, which will build the St. Regis development. Malaysian Resources has a 30 per cent stake, while Jitra Kerkasa owns the rest.
The project will be completed in 2014.
By New Straits Times
Thursday, June 12, 2008
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