KUALA LUMPUR: Berjaya Land (BLand) aims to launch luxury residences and villas on the island of Okinawa, Japan in the third quarter of next year, says its chief executive officer Syed Ali Shahul Hameed.
The developer is building the Four Seasons Resort and Private Residences in Okinawa, including the villas and a spa, with construction slated to start by June next year.
This is the first phase of development for the 100 acres of beach front land owned by BLand, acquired back in 2009.
Phase 1 will use up 33 acres, and completed in 2023, said Syed Ali, adding that the total development cost is US$400 million.
"Earthwork is expected to start in the second quarter. We target to launch the residences and villas in the third quarter of next year. It will be one of the most luxurious homes in Japan while the Four Seasons Resort and Private Residences will be the most iconic development, setting a benchmark," he told NST Property.
The development will emulate the success of Four Seasons Hotel and Hotel Residences Kyoto by Berjaya Group which officially launched in December 2016.
BLand's unit, Berjaya Okinawa Development Co. Ltd inked a management agreement with Four Seasons Hotels and Resorts on January 17, this year for the project.
Syed Ali said, BLand will build 122 private residences and 28 villas.
He is upbeat there will be positive take-up, given the location, and the prestigious Four Seasons branding and management.
The 100 acre land is situated along the western coast of the island, about 50km northeast of Naha International Airport.
"Air Asia will fly to Okinawa starting January 22, 2020. This is a plus point for our development as we are targeting the Malaysian market. We are also targeting the Japanese market. Okinawa is the Hawaii for the Japanese," said Syed Ali.
The four times weekly service via Taipei commences 22 January 2020 (subject to regulatory approval), and will be AirAsia’s sixth international destination in Japan, after Tokyo (Haneda and Narita), Osaka, Sapporo, Fukuoka and Nagoya (via Bangkok).
Berjaya Corp founder and executive chairman, Tan Sri Vincent Tan said during the signing of the management agreement here that the Four Seasons Resort and Private Residences will be the most beautiful, valuable and expensive property in Okinawa.
Bart Carnahan, executive vice president, global business development, Four Seasons Hotels and Resorts added that together with Berjaya, the partnership will create the very finest resort and residences of the highest quality, and offer a level of unparalleled service, one that is synonymous with the name Four Seasons around the globe.
The master plan for Four Seasons Resort and Private Residences, including planning and landscape architecture, is developed by international landscape architecture and urban design firm, EDSA Inc.
Japan's top architects Kengo Kuma and Kuniken will serve as joint architects for the project.
Plans are being finalised for the remaining 70 acres, which may include more luxurious residences.