KUALA LUMPUR: Berjaya Corp Bhd (BCorp) is confident of completing The Ritz-Carlton Residences on time despite the current economic slowdown, says chairman/CEO Tan Sri Vincent Tan.
“With our experience during the economic crisis in 1997, we are ready to face the current crisis and go through with our project,” he said yesterday during the signing ceremony between BCorp subsidiary Wangsa Tegap Sdn Bhd and the Ritz-Carlton Hotel Co LLC.
Tan said the 300 luxury residences would be launched in August or September, targeting the high-end market.
“We expect more than half of the potential buyers to be foreigners and, with the collaboration of leader of luxury lifestyle company Ritz-Carlton, it may help boost sales,” Tan said.
The Ritz-Carlton Residences is located at the junction of Jalan Sultan Ismail and Jalan Ampang. It will comprise two high rise towers with 150 units each priced at RM6mil to RM7mil.
The gross development value of the project is RM2bil while completion is expected in two years.
By The Star
Tuesday, January 13, 2009
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