Search Articles

Find tips, tools and how-to guides on every aspect of property

Sheng Tai International seals RM25 million deal with Chester Venture Group


15 JULY, PETALING JAYA – Sheng Tai International Sdn. Bhd. (Sheng Tai International), an award-winning property developer that specialises in property tourism, partners Chester Venture Group Sdn Bhd (Chester Venture Group), a leading property company in Malaysia, continues its quest to set Melaka as a destination of choice for business and leisure travellers.

A virtual signing ceremony between Dato’ Leong Sir Ley, Founder and Chairman of Sheng Tai International and Dato’ Howard Chew, Founder and Chairman of Chester Venture Group, was held to seal this exclusive partnership.

Through this partnership, Chester Venture Group will underwrite 30 units of Metrasquare Serviced Suites, a Melaka Trade Square (Metrasquare) residential component. Metrasquare is a 6-acre commercial development located at Ayer Keroh, Melaka.

Each unit is ranged from 1,036 square feet (sqft) to 1,749 sqft. The total value of the 30 units is estimated at RM25 million.

Dato’ Leong Sir Ley, Founder and Chairman of Sheng Tai International, said, “We are delighted to partner Chester Group, a company that shares similar values as Sheng Tai International, to maximise Metrasquare Serviced Suites’ investment returns further.”

“This partnership also further solidified our commitment to catalysing the economic growth of Melaka, be it bringing in new businesses or creating job opportunities to the locals.”

Dato’ Leong believes that this partnership is timely given the optimistic outlook of Melaka. “The pandemic has seen investors or property buyers moving from the city centre to suburbs as remote working is now the new norm.”

“This is reflected in Sheng Tai International’s recent success in forming strategic partnerships with local and international brands, namely Memorigin, FashionTV from Paris, IWG, KenTeam and Bill Keith, to bring in new concepts to its establishments in Melaka. These include Metrasquare and The Sail.”

“Therefore, our exclusive establishment at Metrasquare coupled with Chester Group’s extensive experience in the local property market, we foresee a good take-up rate.”

Sheng Tai International is currently a shareholder Chester Denai Alam development, Tulip Residence, a 2.98 acres development in Elmina City Towship. It is only 12 km away from Kota Damansara via Dash Highway.

Metrasquare comprises a residential component called the Metrasquare Serviced Suites, a three-star premium hotel called Hotel Metrasquare, as well as retail lots, meeting and conference facilities, F&B amenities, as well as an upcoming Melaka historical gallery and art social space.

Located just five minutes’ drive away from the Ayer Keroh toll off the North-South Expressway, Metrasquare is close to the Melaka International Trade Centre (MITC), government offices, hypermarkets and a host of tourist attractions such as Melaka Zoo and Night Safari; Melaka Bird Park; Wonderland Theme Park; Melaka Planetarium, World’s Bees Museum and Melaka International Trade Centre.

“Moving forward, Sheng Tai International will continue to embrace innovative ideas and work cohesively with our partners, including the State Government, to create more quality opportunities to Melaka,” she added.

For more information about Metrasquare, kindly contact Sheng Tai International at +6011 3737 3399.

Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More Articles