KUALA LUMPUR: The RM3.8 billion KL Midtown project within KL Metropolis has reached a new milestone with the entry of Kuala Lumpur's first Hyatt Regency Hotel.
The hotel is designed by acclaimed Japanese architect, Kengo Kuma, whose prestigious projects include the New National Stadium in Tokyo, the Bamboo Wall House in China, the LVMH Group's Japan headquarters and one of the largest spaces in the Caribbean for Mandarin Oriental Dellis Cay.
KL Midtown is a 70:30 joint venture between Hap Seng Consolidated Bhd and Naza TTDI Sdn Bhd, the property arm of Naza Group and the master planner for the RM20 billion KL Metropolis.
The integrated project spans 8.95 acres and it comprises luxury residences, a hotel and retail podium.
Hap Seng's wholly-owned Hap Seng Land Development Sdn Bhd signed the shareholders’ agreement and development rights agreement with TTDI KL Metropolis Sdn Bhd, a wholly-owned unit of Naza TTDI in 2016 to jointly develop the land.
The management agreement was inked here on Saturday between Hap Seng chairman Datuk Jorgen Bornhoft and Hyatt Asia Pacific president David Udell, witnessed by Naza TTDI deputy executive chairman cum group managing director SM Faliq SM Nasimuddin and Kengo Kuma.
Faliq told the New Straits Times that Hyatt Regency would provide a further boost to KL Metropolis.
"The presence of it signifies the trust and confidence that this global hospitality brand has in locating its flagship hotel in KL Metropolis, an upcoming neighbourhood hub in Kuala Lumpur that we envision to bring trade, commerce, living and leisure together," he added.
Faliq said Hyatt Regency's presence together with other upcoming hotels would also support and bring added value to the country’s largest exhibition and event space, the Malaysia International Trade and Exhibition Centre (MITEC).
He said this was in line with the aim to position MITEC as the MICE (Meetings, Incentives, Conferences and Exhibitions) gateway venue to Southeast Asia.
"Looking ahead, we hope to see the presence of more international and globally renowned brands in KL Metropolis that will eventually spur the growth of the area as an international trade destination for the country and an economic catalyst," said Faliq.
KL Metropolis is located in an up market area with close vicinity to prime established residential and commercial centres like Mont Kiara, Damansara Heights and Bangsar.
The development comprises residences, hotels, retail, entertainment attractions, offices and MITEC (opened in 2017).
It will be an integrated hub where retail, trade, residences and play co-exist as they are developed into state-of-the-art office towers, Grade A residential towers, a lifestyle mall and world-class hotels.