PETALING JAYA: Hap Seng Consolidated Bhd has partnered with Naza TTDI to bring in a global hotel brand, Hyatt Regency, to the KL Midtown development project located near Jalan Duta in Kuala Lumpur.
In a statement yesterday, Naza TTDI said its subsidiary, TTDI KL Metropolis has signed a joint venture agreement with Hap Seng and Hyatt Hotel Management Ltd to build a 450-room Hyatt Regency branded hotel.
The hotel, which will have a direct connection to the Malaysia International Trade and Exhibition Centre, is targeted to be completed in 2024.
“Hyatt Regency Kuala Lumpur will add to Hap Seng’s hotel development efforts with Hyatt in Malaysia, complementing the recently announced Hyatt Centric Kota Kinabalu, ” said Hap Seng chairman Datuk Jorgen Bornhof in the statement.
“We chose Hyatt for the project because of our excellent past experience working together, paired with the hotel company’s established leadership reputation in the hospitality industry, ” he added.
The signing ceremony on behalf of the parties were Bornhoft of Hap Seng and Hyatt Asia Pacific president David Udell. It was witnessed by Naza TTDI deputy executive chairman and group managing director SM Faliq SM Nasimuddin.
“This will be our second collaboration with Hap Seng in Malaysia after we announced our plans for the Hyatt Centric Kota Kinabalu, ” Udell said.
In 2016, Hap Seng signed an agreement with Naza TTDI to co-develop 8.95 acre for a mixed development project known as KL Midtown.
KL Midtown is a joint venture company, which is 70% owned by Hap Seng and 30% owned by Naza TTDI.
The project is estimated to have a gross development value of RM3.8bil and it will include a hotel, luxury residences and retail podium.