Berjaya Land breaks ground for US$1.12bil Four Seasons Okinawa

Berjaya Corp Bhd founder and advisor Tan Sri Vincent Tan Chee Yioun (fourth right) and Onna Village mayor Nagahama Yoshimi (fifth right) during the Four Seasons Resort Private Residences groundbreaking ceremony at Okinawa, Japan, March 4, 2024. With them are (from left) Bank of the Ryukyus Ltd Chairman Kawakami Yasushi, ⁠Tokyo Star Bank Deputy Director Iwakiri Daisuke, Okinawa Development Finance Corporation ⁠Director Yabiku Toru, Fujita Corporation ⁠Representative Director Okumura Yoji, Residential Development of Four Seasons Hotels Resorts ⁠Vice President James Price and ⁠Seikou Okinawa Construction Co Ltd Representative Director Liew Ken Woon. — GLENN GUAN/The Star

OKINAWA: Berjaya Land Bhd (BLand) anticipates a potential profit after tax of between US$400mil and US$450mil for its upcoming project, the Four Seasons Resort & Private Residences Okinawa (Four Seasons Okinawa), scheduled for completion in 2027.

Tan Sri Vincent Tan Chee Yioun, the founder and adviser of Berjaya Corp Bhd, the parent company of BLand, attributed this anticipated success to Okinawa's thriving tourism industry, drawing in 8.22 million visitors, with about seven million from Japan and an additional one million from overseas, especially South Korea, Taiwan and China.

“From the gross development value (GDV) and our land as well as construction cost, I think we should do very well. If we were to sell everything (condo residences and villas), we can make between US$400mil and US$450mil profit after tax,” he said in a press conference held in conjunction with the groundbreaking ceremony of Four Seasons Okinawa.

The Four Seasons Okinawa, with an estimated GDV of US$1.12bil, is Berjaya group's second hotel on the island, following the opening of Ansa Resort Okinawa in November 2019 in Uruma, Okinawa's third-largest city.

Developed by Berjaya Okinawa, a wholly owned subsidiary of BLand, in collaboration with Four Seasons Hotels and Resorts (Four Seasons), the project spans 32 acres and includes 127 resort rooms, 124 condo residences, and 28 private villas.