Strategic tie-up: SP Setia Bhd president/CEO Datuk Khor Chap Jen (3rd from right) exchanging documents with Shangri-La Asia Ltd CEO Lim Beng Chee, witnessed by (back row, from left) the Prime Minister’s special envoy to China Tan Sri Ong Ka Ting, SP Setia chairman Tan Sri Dr Wan Mohd Zahid, deputy president and COO Datuk Wong Tuck Wai and Setia Melbourne CEO Choong Kai Wai after the agreement signing. See story on page 2
MELBOURNE: Property developer SP Setia Bhd
has officially announced Shangri-La Hotels and Resorts as the hotel operator for its proposed twin-tower development in Melbourne’s central business district (CBD).
This is the first time a Malaysian property developer has partnered with a leading hotel brand name for a development project that has a construction value of about A$480mil in Australia. The cost of building the hotel is A$280mil.
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