Boutique property developer Senja Aman Group and hotel management company Banyan Tree Holdings today launched the sale of luxury suites for the Angsana Teluk Bahang, Penang beach resort today.
This is the first beach resort development in Malaysia to be managed by award-winning Banyan Tree Hotels & Resorts under its Angsana brand, and is set to become a benchmark development for Malaysia’s tourism and property sector.
The sales launch held in Kuala Lumpur was attended by Senja Aman co-founder and group managing director Datuk Simon Foong and Banyan Tree Holdings chairman Ho Kwon Ping.
The event saw the release of the development’s 150 fully furnished two-bedroom luxury suites.
Senja Aman expects the units, which are available for sale through strata titles, to offer a strong proposition for investors as they come with a leaseback model and lifestyle programme.
The units will be managed by Banyan Tree Hotels and Resorts to maximise investment returns for the purchasers.
Priced from RM1.6mil onwards, the sizes of the suites range from 950 sq ft to 1,200 sq ft.
The developer is holding exhibitions on Saturday and Sunday at the Grand Hyatt Kuala Lumpur, and on the March 29 and 30 in Singapore’s Four Seasons Hotel to market the suites.
Property consultant Knight Frank has been appointed as the agents for the sale of the units.
Owners of suites will be able to stay in their units for 60 days a year and enjoy the resort’s range of facilities.
All Angsana Teluk Bahang’s suite owners are automatically enrolled in The Sanctuary Club, an exchange programme that allows owners to exchange part of their annual entitlement for a complimentary stay at any destination within the network.
In addition, discounts and privileges are offered to all owners, including hotel accommodation at all Banyan Tree and Angsana resorts around the world
Ho said, “Penang has flourished as a tourist destination in recent years with a steady increase in visitor arrivals. With its rich culture and Unesco Heritage Site status, we are confident Penang is an ideal destination to expand our footprint with Senja Aman as our partner.”
Located on eight acres of land along a beachfront site in Teluk Bahang, the development with a GDV of about RM500mil, will have a built up area of 615,000sq ft.
The resort, upon completion, aims to command benchmark room rates in Penang ranging from US$210 (RM686) to US$1,600 per night.
The resort will comprise three main buildings with around 300 rooms and suites that will be sea-facing with direct beach accessibility. Building work is scheduled to commence in June.
The first phase of the resort is targeted for completion in December 2016 and the resort is slated to open its doors in early 2017.
Foong said, “When I first saw the beautiful beach of Teluk Bahang and the magnificent Andaman Sea, I knew I had found something special. I got together with partners, Datuk Richard Fong and Loo Hooi Keat, who shared my enthusiasm, and together we brought this vision to life.
“We knew we had to find someone who was an expert in hospitality, who supported our vision. We found that in Ho Kwon Ping and Banyan Tree. In them, we found a partner who shared our vision, our values of sustainability, and sense of community,” he added.