Berjaya Land gets RM1.6bil loan to finance Japanese development

Berjaya Corp Bhd founder Tan Sri Vincent Tan -- BERNAMA

PETALING JAYA: Berjaya Land Bhd (BLand) has secured a syndicated loan of US$330mil (RM1.6bil) with a consortium of Japanese financial institutions, led by Tokyo Star Bank, Ltd and co-led by Okinawa Development Finance Corp and Bank of The Ryukus.

In a filing with Bursa Malaysia, BLand said the syndicated loan facility will be used to fund the development of the Four Seasons Resort & Private Residences in Okinawa, Japan (Four Seasons Okinawa) which has a gross development value of US$1.12bil (RM5.3bil).

Several major financial institutions like Bangkok Bank Japan, The Ogaki Kyoritsu Bank and The Aichi Bank, amongst other regional banks, were involved in the syndication.

Berjaya Corp Bhd founder and advisor Tan Sri Datuk Seri Vincent Tan Chee Yioun said the syndicated loan secured is a testament to the syndicated lenders’ confidence in the Four Seasons Okinawa project and also BLand’s ability to bring it to fruition.

“We are confident that this collaboration will establish a new standard of excellence in the hospitality and real estate space in Okinawa.

“Given the considerable effort and investment that will go into the design and construction of the Four Seasons Okinawa and future property projects in the master plan development, I am very confident that this mixed development project in Onna Village will have substantial commercial potential and will add significant value to the economic development and growth of Okinawa,” he said in a statement.

The Four Seasons Okinawa spans 32 acres of beachfront, featuring 279 accommodations comprising 127 resort rooms, 124 high-end condominiums and 28 exclusive private villas. The main construction is expected to be done in 40 months, with civil works already completed.

Following the project’s completion, there will be a three-month hotel pre-opening phase. The Four Seasons Okinawa is targeting its grand opening in the second quarter of 2027.

Seikou Okinawa Construction KK, a wholly-owned subsidiary of Berjaya Construction Bhd, will be spearheading the construction of the Four Seasons Okinawa project as the main contractor and will work together with other Japanese subcontractors.

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