GEORGE TOWN: Ri-Yaz Group is equally aggressive on its expansion drive in Malaysia as the hospitality brand xpand footprint in Vietnam with the construction of three hotels there currently.
Group managing director Datuk Seri Shaheen Shah Mohd Sidek said four hotels are currently under construction in Kuala Lumpur, Penang and Melaka.
The group’s subsidiary Ri-Yaz Hotels and Resorts currently operates five hotels in Malaysia, Indonesia and Vietnam.
“Our plan in Vietnam to have 13 hotels and residences by 2025 is on track while the construction of Dash Hotel KLCC, Dash Hotel Melaka, Dash Heritage Hotel Penang and Tan’Yaa Hotel Penang are underway,” Shaheen told the New Straits Times.
Shaheen said the RM160 million Dash Hotel KLCC is expected to be completed by 2021 and the RM80 million Dash Hotel Melaka, by next year.
“Only two properties in Penang will be managed by Ri-Yaz,” he said, adding that Dash Heritage Penang is expected to be ready by next year while Tan’ayaa Hotel Penang by 2022.
On Tuesday, Ri-Yaz inked two deals in Hanoi, Vietnam which paved the way for the company’s fourth Dash-branded hotel called dash Lux Nha Trang, which will be sited in the coastal town of Nha Trang within the sea-fronting Vega City development.
The develop project is undertaken by finance, banking and real estate company KDI Holdings.
The RM100 million hotel with 886 keys is slated for completion by 2022.
“Dash Lux Nha Trang will be a five-star concept hotel, featuring a design and ambiance that is more luxurious, extravagant and glamorous.
“All aspects of the hotel, from design to services, has been carefully considered to deliver an upscale and exclusive experience to the visitors,” Shaheen said in a statement, adding that the property will incorporate elements of Vietnamese culture through bespoke interior fittings and signature culinary offerings.
Yesterday’s signing event was witnessed by Vietnamese ambassador to Malaysia Le Quy Quynh.
The first was a services agreement between KDI Holdings and Ri-Yaz Development Sdn Bhd to provide technical service consultancy.
The second agreement was a management deal between KDI Holdings and Ri-Yaz Group’s Vietnamese subsidiary Ri-Yaz Assets Co Ltd Vietnam,