Kuala Lumpur, January 26, 2015: The luxury boutique property developer committed to crafting properties of distinction, KB Group (Malaysia) Sdn Bhd signs a franchise agreement with the world’s largest hotelier, Wyndham Worldwide for a best-in-class partnership to launch its maiden luxury investment project – Ramada Lumut Resort in the state of Perak. The Ramada Lumut Hotel, with a Gross Development Value of RM455 Million, is built on 4.7 acres of prime land in the coastal town of Lumut.
Strategically located in the tourist belt of Lumut within the district of Manjung, in close proximity to Pulau Pangkor, this high-quality mixed commercial development with world-class business and lifestyle components, is targeting for completion by end 2018, and offers for the first time a 100% profit sharing in a unique resort destination.
The proposed development in Perak, Ramada Lumut Resort, will potentially emerge as a unique resort destination which will transform the property landscape in suburban Malaysia.With breath-taking views of the sea to the north and forest reserves to the south, the best-in-class resort will include 269 luxurious residences and serviced apartments, 7 exclusive forest villas, and a 4-star hotel with 30 facilities comprising meeting and convention facilities, F&B Outlets as well as sea and jungle-themed recreational facilities.
“Well positioned to attract corporates from the neighbouring industrial parks, ports, government agencies and institutions of higher learning, Ramada Lumut Resort is located in Perak’s fastest growing investment hub, promising good returns of a Guaranteed Rental Return (GRR) of 7 per cent for the first 3 years from the commencement of its operations in 2019. For the first time in Lumut, we are able to offer property investment solutions of 72.9% Nett GRR over a 10-year period, 20% discount for early bird bookings and 90% margin of finance”, said Dato’ Roslan Khalid, the visionary Group Managing Director of KB Group (Malaysia) Sdn Bhd.
Strategically located between Kuala Lumpur and Penang, Perak’s development is fuelled by Manjung’s rapid economic growth in its tourism and manufacturing sectors. Ramada Lumut Resort, which is 8 km from Manjung and 18 km from Pangkor, is capable and well positioned to tap a market of more than 3.5million visitors annually. The upcoming 233km West Coast Highway targeted to be completed by 2019, along with BASEL Highway and Silex Highway that will link to all the major highways in Peninsular Malaysia, will improve accessibility and travel time to Lumut.
Leveraging on the untapped growth potential with two high-potential and high-value properties under its wing which will be launched this year (Ipoh Hotel & Convention Center, and Ramada Lumut Resort), KB Group is targeting to achieve a total estimated Gross Development Value (GDP) of RM1.055 billion.
“KB Group, even as a trusted boutique property developer, has been committed to establishing and seeking the benefit of our partnerships to conceptualize and deliver high-value properties of distinction such as the Ramada Lumut Resort. With our synergized capabilities, we are confident that we will be able to transform the business and lifestyle offerings in Lumut while creating new value for our investors. Our greater objective is to tap, create and enhance the socio-economic potential of suburban Malaysia,” concluded Dato’ Roslan Khalid, Group Managing Director of KB Group at the signing ceremony held at their HQ in Kuala Lumpur.
KB Group, a reputable developer of distinction aspires to expand its Resort development, covering 20 acres which when completed will transform the 4 Star Ramada Lumut Resort into an integrated destination resort comprising an adventure and water theme park with a 5 Star Boutique Resort with unique concepts that will make this integrated development a major attraction to the West Coast of Perak. The details of the Masterplan are currently in discussions and are expected to materialize in the next two years, which by all means will enhance the value of investments in the flagship Ramada Lumut Resort.
*Image Caption: Dato’ Roslan Khalid (second from left) and David Wray (third from left) at the signing ceremony between KB Group and Wyndham Worldwide