BLand secures loan from a Japanese consortium

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

In a filing with Bursa Malaysia, BLand said the syndicated loan facility would 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.

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

Berjaya Corp Bhd founder and adviser Tan Sri Vincent Tan Chee Yioun said the loan 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 add significant value to the economic development and growth of Okinawa,” he said in a statement yesterday.A subsidiary of Berjaya Corp Bhd, BLand is primarily involved in property development, hotels, resorts and recreation, gaming and investment holding.

The Berjaya Group owns 34 hospitality assets globally with 16 properties operated under the Berjaya Hotels & Resorts brand.

The Four Seasons Okinawa spans 32 acres of beachfront, featuring 279 components 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 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 project as the main contractor, and will work together with other Japanese sub-contractors.

BLand group chief executive officer Syed Ali Shahul Hameed said building on the international success of its ventures like the Four Seasons Hotel and Residences Kyoto, the company is committed to further enhancing Okinawa’s global standing as a top-tier tourism destination.

“Our deepest appreciation to Tokyo Star Bank and all the other distinguished financial institutions that have joined hands in bringing this syndicated loan agreement to a successful conclusion,” he said.

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