MALAYSIAN tycoon Francis Yeoh, who helms YTL Group, one of Malaysia’s largest listed companies, is intent on an aggressive expansion in Asia - starting in Singapore.
The Republic is the target of the first part of his grand plan to build a series of world-class marinas and residential clusters in coastal areas around Asia.
He wants Asia to be known as the ‘Mediterranean and Caribbean of the East’.
‘Real estate has not seen its full glory yet in Asia,’ Tan Sri Dr Yeoh said in an interview with The Straits Times recently.
‘Wealthy Asians are still paying a lot for not very good homes in the West, when they should be able to find beautiful homes in the East.’
To address this, YTL is now focused on gaining entry into the top tier of Asia’s property markets, starting with Singapore, he said.
YTL, with a combined market worth of about RM28.5 billion ($12S.2 billion), is a conglomerate that spans the construction, property, hotel and utilities industries. It recently teamed up with Malaysian developer LP Worlds to form a joint venture, Genesis-Alliance, which owns two projects at Sentosa Cove.
Genesis-Alliance, in which YTL holds a majority stake, was awarded the 145,442 sq ft, man-made Sandy Island in March for $89.7 million, after it bagged the Lakefront in the northern part of Sentosa Cove for the bargain price of $50.2 million in September last year.
Sentosa will be an important ‘mid-point’ for yachts cruising in Asia in the future, said Dr Yeoh. Hence, the need for a presence in the Republic.
‘Singapore is the centre of the region, like London is the centre of Europe. Its strong infrastructure, private banking sector and cosmopolitan culture makes it an attractive destination.’
YTL’s strategy is to rope in renowned architects and iconic brands to design quality homes, which will then be sold by invitation only to high net-worth individuals around the world.
It already has high-end properties, shopping malls, hotels and resorts in Malaysia, Dubai, Indonesia, Thailand and Europe, including a six-star hotel in St Tropez, France.
Sandy Island’s super-luxurious villas, slated for launch next March, are designed by renowned Armani store designer Claudio Silverstrin.
Each villa, ranging from 6,000 sq ft to 12,000 sq ft and costing more than $12 million apiece, will boast a lush tropical setting, quality interior finishes, a private berth and pool among other exclusive features.
All this is meant to redefine indulgent living in Singapore and Asia. More homes in this style are on the way, he said.
The company is also eyeing Singapore’s prime residential districts to build more of its high-end homes and to gain entry into the top-end of the island’s property market.
‘It’s not too late yet,’ said Dr Yeoh, adding that a slice of the pie is big enough.
‘But as a new kid on the block, to survive, we must differentiate ourselves. And this is where YTL comes in - at the very top of the pyramid.’
The homes YTL builds will be eco-friendly and minimise the impact on the environment, Dr Yeoh added. ‘Asia is a beautiful location. In terms of real estate, I’m looking forward to a very exciting decade ahead.’
Source : Straits Times - 26 Nov 2007
Showing posts with label YTL Corp. Show all posts
Showing posts with label YTL Corp. Show all posts
Monday, November 26, 2007
Friday, August 10, 2007
Malaysia’s YTL Corp and its partner LP World Sdn Bhd have been awarded Sandy Island at Sentosa Cove for about $89.7 million or $617 per square foot
Malaysia’s , and its partner LP World Sdn Bhd have been awarded Sandy Island at Sentosa Cove for about $89.7 million or $617 per square foot of land area.
The 145,442 sq ft man-made island in the upscale waterfront housing district’s Southern Residential Precinct can be developed into 19 bungalows, each with its own private berth.
This is the Malaysian duo’s second win on Sentosa Cove. In September last year, they bagged the Lakefront Collection in the locale’s Northern Residential Precinct which they plan to develop into 12 luxury bungalows. The price they paid for that plot - in a less choice location than Sandy Island - was nearly $50.2 million or $378 psf.
Sentosa Cove Pte Ltd (SCPL) has decided not to award Pearl Island - next to Sandy and which was offered through the same tender exercise which closed on Nov 22 last year. The most likely reason is that the top bid was below SCPL’s expectation, reckon market watchers. Both plots were offered with 99-year leasehold tenure.
YTL and LP World are understood to have been the top bidder for Sandy Island. They did not bid for Pearl Island.
In all, there are five man-made islands designated for bungalow development at Sentosa Cove. The other three are in the Northern Precinct - Coral, Paradise and Treasure. Ho Bee Investment clinched Coral Island in late 2004 for $206 psf of land area, and Paradise in August 2005 for $260 psf. Treasure was sold to a group of individual investors at an average price of $308 psf in late 2005.
YTL, headed by Malaysian tycoon Francis Yeoh, is one of the biggest companies listed on the Kuala Lumpur Stock Exchange. Its partner LP World is a Malaysian township and residential developer.
The 145,442 sq ft man-made island in the upscale waterfront housing district’s Southern Residential Precinct can be developed into 19 bungalows, each with its own private berth.
This is the Malaysian duo’s second win on Sentosa Cove. In September last year, they bagged the Lakefront Collection in the locale’s Northern Residential Precinct which they plan to develop into 12 luxury bungalows. The price they paid for that plot - in a less choice location than Sandy Island - was nearly $50.2 million or $378 psf.
Sentosa Cove Pte Ltd (SCPL) has decided not to award Pearl Island - next to Sandy and which was offered through the same tender exercise which closed on Nov 22 last year. The most likely reason is that the top bid was below SCPL’s expectation, reckon market watchers. Both plots were offered with 99-year leasehold tenure.
YTL and LP World are understood to have been the top bidder for Sandy Island. They did not bid for Pearl Island.
In all, there are five man-made islands designated for bungalow development at Sentosa Cove. The other three are in the Northern Precinct - Coral, Paradise and Treasure. Ho Bee Investment clinched Coral Island in late 2004 for $206 psf of land area, and Paradise in August 2005 for $260 psf. Treasure was sold to a group of individual investors at an average price of $308 psf in late 2005.
YTL, headed by Malaysian tycoon Francis Yeoh, is one of the biggest companies listed on the Kuala Lumpur Stock Exchange. Its partner LP World is a Malaysian township and residential developer.
Saturday, April 21, 2007
The Maple by YTL Land a winner
The Maple by YTL Land a winner
YTL Land & Development Bhd's first residential project in Sentul West, The Maple, is a stunner!
The two slender 30-storey towers that rise above the old Sentul area in Kuala Lumpur have been turning heads since they were completed in July last year.
However, it is more than just two tall handsome buildings that have attracted the city folk. The magic in this entire development is of course the 35-acre lush green park that is the icing on the Sentul West “cake”.
Imagine you are oblivious of your surroundings and your blindfolds are removed. Hey presto! You are standing on a tranquil park with three-lined trails, moats, aerial walkways and a mini forest that are so lovely and surreal.
“Am I in St James Park or Hyde Park?” You may wonder as you spot a gaggle of white, fat ducks waddling on a pond towards a pontoon with a boat tied to it. Willow trees droop low on the water's edge while your eyes feast on the rolling greens with sculptures like a metal “crane” or wooden “deer” dotting the landscape.
Except for a row of “skeletal” concrete pillars that look like a war relic and seems to contradict the park’s 18th century English gardens charm, everything is near perfect.
The cool breeze brushes your cheek and you wake up realising these were no dreams. This was how I felt when YTL Group deputy managing director Datuk Yeoh Seok Kian recently showed me around The Maple, the park and the koi centre. Colourful koi fishes, some two feet long, swam in a pond at a Japanese Restaurant as well as in 36 tanks.
Yeoh, who fed the ducks with pieces of bread, said the ducks, birds and the peaceful environment reminded him of his childhood days when everything was so carefree.
Indeed, Yeoh’s pride in the Sentul project is understandable, as the YTL Group has put in so much effort into it.
Through the freehold Sentul West and Sentul East development, it is setting a new benchmark in city living by creating an exclusive green haven for the resident. These include expatriates, shoe couturier Datuk Jimmy Choo, a renowned CNN International anchorwoman, international celebrities and some members of royalty.
Sentul West, with 186 acres, celebrates the outdoors with exclusive residences, offices and shops amidst pristine lakes bordering the park (formerly a golf course) while Sentul East, with 108 acres, will be more vibrant and attuned to the young.
YTL has transformed an old railway workshop in Sentul West’s Festival Plaza into the Kuala Lumpur Performing Arts Centre (KLPac). Many concerts, music festivals, theatrical shows and art exhibitions have been held at the KLPac since it was opened on May 25, 2005.
Yeoh said another old railway yard would be turned into an art exhibition area.
Meanwhile, the 318-unit Maple is a 3.2-acre sanctuary boasting of four themed gardens: a maze (cut out figures of animals peeping out from the maze), spice garden (herbs and spices), water garden and a meditative garden (for Taichi/yoga) reminiscent of Kyoto’s famed Ryoanji Temple with a mass of white stones (islands) surrounded by a “sea” of pebbles.
One of The Maple’s highlights is the 25-metre infinity edge cantilevered lap pool where, from afar, it looks like the water meets the sky above a canopy of trees.
This pool is furnished with outdoor beds and special “floating decks”.
The bottom of the infinity edge of the pool is made of glass. People below can see the swimmer above.
Other outdoor amenities include a lie-down jacuzzi, barbecue area with open lawn, two squash courts, two tennis courts, a basketball court, gymnasium and clubhouse. There are three swimming pools. The recreational deck (sitting above the car park) is huge.
Buyers have started moving into their luxury 3+1 room apartments. With only six corner units on each floor, the three standard types of 1,535 sq ft, 1,569 sq ft and 1,707 sq ft were priced from RM547,000 to RM1.4mil, comparable to properties in Mont’ Kiara.
The recent completion of the Sentul Link and the Duta-Segambut Link has boosted The Maple’s appeal with easier connectivity to various parts of the Klang Valley.
I was told that the latest sale of The Maple had hit RM400 psf, almost double that of the initial price!
If you are fed up of living in a concrete jungle, then you should move to The Maple (there are about 20 units left unsold) where you currently share the park with residents of the Sang Suria apartments (an uncompleted project revived by YTL) next door.
However, Sentul West will have about 4,000 luxury condo units and about 20,000 residents. The park may be quite crowded then.
YTL Land & Development Bhd's first residential project in Sentul West, The Maple, is a stunner!
The two slender 30-storey towers that rise above the old Sentul area in Kuala Lumpur have been turning heads since they were completed in July last year.
However, it is more than just two tall handsome buildings that have attracted the city folk. The magic in this entire development is of course the 35-acre lush green park that is the icing on the Sentul West “cake”.
Imagine you are oblivious of your surroundings and your blindfolds are removed. Hey presto! You are standing on a tranquil park with three-lined trails, moats, aerial walkways and a mini forest that are so lovely and surreal.
“Am I in St James Park or Hyde Park?” You may wonder as you spot a gaggle of white, fat ducks waddling on a pond towards a pontoon with a boat tied to it. Willow trees droop low on the water's edge while your eyes feast on the rolling greens with sculptures like a metal “crane” or wooden “deer” dotting the landscape.
Except for a row of “skeletal” concrete pillars that look like a war relic and seems to contradict the park’s 18th century English gardens charm, everything is near perfect.
The cool breeze brushes your cheek and you wake up realising these were no dreams. This was how I felt when YTL Group deputy managing director Datuk Yeoh Seok Kian recently showed me around The Maple, the park and the koi centre. Colourful koi fishes, some two feet long, swam in a pond at a Japanese Restaurant as well as in 36 tanks.
Yeoh, who fed the ducks with pieces of bread, said the ducks, birds and the peaceful environment reminded him of his childhood days when everything was so carefree.
Indeed, Yeoh’s pride in the Sentul project is understandable, as the YTL Group has put in so much effort into it.
Through the freehold Sentul West and Sentul East development, it is setting a new benchmark in city living by creating an exclusive green haven for the resident. These include expatriates, shoe couturier Datuk Jimmy Choo, a renowned CNN International anchorwoman, international celebrities and some members of royalty.
Sentul West, with 186 acres, celebrates the outdoors with exclusive residences, offices and shops amidst pristine lakes bordering the park (formerly a golf course) while Sentul East, with 108 acres, will be more vibrant and attuned to the young.
YTL has transformed an old railway workshop in Sentul West’s Festival Plaza into the Kuala Lumpur Performing Arts Centre (KLPac). Many concerts, music festivals, theatrical shows and art exhibitions have been held at the KLPac since it was opened on May 25, 2005.
Yeoh said another old railway yard would be turned into an art exhibition area.
Meanwhile, the 318-unit Maple is a 3.2-acre sanctuary boasting of four themed gardens: a maze (cut out figures of animals peeping out from the maze), spice garden (herbs and spices), water garden and a meditative garden (for Taichi/yoga) reminiscent of Kyoto’s famed Ryoanji Temple with a mass of white stones (islands) surrounded by a “sea” of pebbles.
One of The Maple’s highlights is the 25-metre infinity edge cantilevered lap pool where, from afar, it looks like the water meets the sky above a canopy of trees.
This pool is furnished with outdoor beds and special “floating decks”.
The bottom of the infinity edge of the pool is made of glass. People below can see the swimmer above.
Other outdoor amenities include a lie-down jacuzzi, barbecue area with open lawn, two squash courts, two tennis courts, a basketball court, gymnasium and clubhouse. There are three swimming pools. The recreational deck (sitting above the car park) is huge.
Buyers have started moving into their luxury 3+1 room apartments. With only six corner units on each floor, the three standard types of 1,535 sq ft, 1,569 sq ft and 1,707 sq ft were priced from RM547,000 to RM1.4mil, comparable to properties in Mont’ Kiara.
The recent completion of the Sentul Link and the Duta-Segambut Link has boosted The Maple’s appeal with easier connectivity to various parts of the Klang Valley.
I was told that the latest sale of The Maple had hit RM400 psf, almost double that of the initial price!
If you are fed up of living in a concrete jungle, then you should move to The Maple (there are about 20 units left unsold) where you currently share the park with residents of the Sang Suria apartments (an uncompleted project revived by YTL) next door.
However, Sentul West will have about 4,000 luxury condo units and about 20,000 residents. The park may be quite crowded then.
Friday, April 20, 2007
Starhill Gallery Dubai first step to globalise brand
Starhill Gallery Dubai first step to globalise brand
KUALA LUMPUR: Creating a “twin” of Kuala Lumpur's Starhill Gallery in Dubai is the start of efforts to globalise the brand by having a chain in major cities around the world, parent company YTL Corp Bhd managing director Tan Sri Dr Francis Yeoh Sock Ping said.
Other cities earmarked included Abu Dhabi, Oman, Moscow, Shanghai and Jakarta, said Yeoh, who is also chief executive officer of Pintar Projek Sdn Bhd, which manages the Starhill Real Estate Investment Trust (REIT).
Expecting the brand globalisation drive to be a success in these and other cities, he said: “Asia is very brand-centric, more than many western capitals. So for us to develop in the Middle East and Asia, we are focusing on the right areas.”
YTL Corp had announced on Tuesday the signing of an agreement between Pintar Projek and ETA Star Property Developers LLC to launch the Starhill Gallery concept in Dubai.
According to the announcement, Pintar Projek expects contributions from licensing fees of about RM5.2mil and an annual brand management fee under a 4% gross profit-sharing arrangement for use of the brand.
Dubai's Starhill Gallery will be within the US$410mil Starhill Towers and Gallery complex being developed by ETA Star. Construction is due to begin in the third quarter of this year and completed in the second quarter of 2010.
Besides providing brand management services, Pintar Projek will also share expertise with architects and consultants during the design and construction stage.
“The brand can actually work. I foresee us going global while locally, Starhill will accumulate only iconic and branded properties,” Yeoh said yesterday after a meeting of Starhill REIT unitholders.
“With the Starhill kind of project, if you get 10 more of this (Starhill Gallery set-ups), you can get US$50mil and with the 4% revenue (gross profit-sharing), you can get an average of US$500mil.” – Bernama
KUALA LUMPUR: Creating a “twin” of Kuala Lumpur's Starhill Gallery in Dubai is the start of efforts to globalise the brand by having a chain in major cities around the world, parent company YTL Corp Bhd managing director Tan Sri Dr Francis Yeoh Sock Ping said.
Other cities earmarked included Abu Dhabi, Oman, Moscow, Shanghai and Jakarta, said Yeoh, who is also chief executive officer of Pintar Projek Sdn Bhd, which manages the Starhill Real Estate Investment Trust (REIT).
Expecting the brand globalisation drive to be a success in these and other cities, he said: “Asia is very brand-centric, more than many western capitals. So for us to develop in the Middle East and Asia, we are focusing on the right areas.”
YTL Corp had announced on Tuesday the signing of an agreement between Pintar Projek and ETA Star Property Developers LLC to launch the Starhill Gallery concept in Dubai.
According to the announcement, Pintar Projek expects contributions from licensing fees of about RM5.2mil and an annual brand management fee under a 4% gross profit-sharing arrangement for use of the brand.
Dubai's Starhill Gallery will be within the US$410mil Starhill Towers and Gallery complex being developed by ETA Star. Construction is due to begin in the third quarter of this year and completed in the second quarter of 2010.
Besides providing brand management services, Pintar Projek will also share expertise with architects and consultants during the design and construction stage.
“The brand can actually work. I foresee us going global while locally, Starhill will accumulate only iconic and branded properties,” Yeoh said yesterday after a meeting of Starhill REIT unitholders.
“With the Starhill kind of project, if you get 10 more of this (Starhill Gallery set-ups), you can get US$50mil and with the 4% revenue (gross profit-sharing), you can get an average of US$500mil.” – Bernama
Tuesday, April 17, 2007
KTM unfazed by proposed bullet train to Singapore
KTM unfazed by proposed bullet train to Singapore
KUALA LUMPUR: Malaysia's unprofitable national railway firm is not worried about competition from a proposed high-speed bullet train linking Kuala Lumpur and Singapore, a top official said Tuesday.
Malaysian conglomerate YTL Corp. had proposed building an 8 billion ringgit (US$2.3 billion; euro1.9 billion) bullet train link that would cover the 325-kilometer (200-mile) journey between the country's biggest city and Singapore in 90 minutes.
This compares to seven hours on existing train services by state railway company KTM Berhad.
KTM managing director Mohamad Salleh Abdullah however, said the bullet train doesn't cater to the average working class as its fares are likely to be much costlier.
A ticket for an air-conditioned second class seat on a KTM train costs only 22 ringgit (US$6.3, euro5.2), he said. Last year, KTM ferried some 600,000 passengers between Kuala Lumpur and Singapore, he said.
"As far as KTM is concerned, we will continue with our services which we consider as very relevant to the southern sector of peninsula Malaysia and Singapore,'' Mohamad Salleh told reporters.
"We can provide reasonable level of comfort at a very affordable cost because our rates are very cheap compared to high-speed train.''
The bullet train proposal is still being studied by the two governments, and there has been no indications on how much fares will cost.
Mohamad Salleh said KTM, which currently runs mostly on single tracks, could cut travel time between Kuala Lumpur to Singapore to around four hours once double-track electric lines are built.
Projects to double-track rail lines straddling the length of peninsula Malaysia are either ongoing or expected to start soon, and likely to be completed in five years, which will completely transform national rail services, he said.
"Single tracks are bleeding us. We need (all our rail lines) to be double track and electrified because it is cleaner, more efficient, economical and faster,'' he said.
"The target date is 2012, it will definitely mark a new era for us.''
KTM now gets 40 million ringgit (US$11.4 million, euro9.5 million) each year from the government to maintain existing single tracks and uneconomical routes, as well as subsidies for part of its fuel needs, he said.
It runs 22 intercity train services within peninsula Malaysia but this can rise by as much as fivefold once double-tracking is done, he added. KTM also has freight services and commuter rail lines covering areas surrounding Kuala Lumpur.
Earlier, KTM signed an agreement with SCNF International, a unit of French national railway company, for technology training and consultancy to help boost its services. - AP
Latest business news from AP-Wire
KUALA LUMPUR: Malaysia's unprofitable national railway firm is not worried about competition from a proposed high-speed bullet train linking Kuala Lumpur and Singapore, a top official said Tuesday.
Malaysian conglomerate YTL Corp. had proposed building an 8 billion ringgit (US$2.3 billion; euro1.9 billion) bullet train link that would cover the 325-kilometer (200-mile) journey between the country's biggest city and Singapore in 90 minutes.
This compares to seven hours on existing train services by state railway company KTM Berhad.
KTM managing director Mohamad Salleh Abdullah however, said the bullet train doesn't cater to the average working class as its fares are likely to be much costlier.
A ticket for an air-conditioned second class seat on a KTM train costs only 22 ringgit (US$6.3, euro5.2), he said. Last year, KTM ferried some 600,000 passengers between Kuala Lumpur and Singapore, he said.
"As far as KTM is concerned, we will continue with our services which we consider as very relevant to the southern sector of peninsula Malaysia and Singapore,'' Mohamad Salleh told reporters.
"We can provide reasonable level of comfort at a very affordable cost because our rates are very cheap compared to high-speed train.''
The bullet train proposal is still being studied by the two governments, and there has been no indications on how much fares will cost.
Mohamad Salleh said KTM, which currently runs mostly on single tracks, could cut travel time between Kuala Lumpur to Singapore to around four hours once double-track electric lines are built.
Projects to double-track rail lines straddling the length of peninsula Malaysia are either ongoing or expected to start soon, and likely to be completed in five years, which will completely transform national rail services, he said.
"Single tracks are bleeding us. We need (all our rail lines) to be double track and electrified because it is cleaner, more efficient, economical and faster,'' he said.
"The target date is 2012, it will definitely mark a new era for us.''
KTM now gets 40 million ringgit (US$11.4 million, euro9.5 million) each year from the government to maintain existing single tracks and uneconomical routes, as well as subsidies for part of its fuel needs, he said.
It runs 22 intercity train services within peninsula Malaysia but this can rise by as much as fivefold once double-tracking is done, he added. KTM also has freight services and commuter rail lines covering areas surrounding Kuala Lumpur.
Earlier, KTM signed an agreement with SCNF International, a unit of French national railway company, for technology training and consultancy to help boost its services. - AP
Latest business news from AP-Wire
Monday, April 16, 2007
ETA Star launches mixed-use real estate development at Business Bay, Dubai
ETA Star launches mixed-use real estate development at Business Bay, Dubai
16-Apr-2007
First truly twin tower in Business Bay
Starhill Gallery of YTL Corporation Malaysia to be part of the project
Up to 80% finance without the loan-processing fee from the First Gulf Bank
ETA Star Property Developers LLC, the real estate development arm of the ETA-Ascon Group, has unveiled Dh1.5 billion Starhill Towers & Gallery located at Business Bay, Dubai comprising state-of-the-art freehold offices, a 5-star hotel and a luxury shopping mall. The famed Starhill Gallery, owned by the multi-billion dollar conglomerate YTL Corporation Malaysia and a world-class shopping destination that has redefined the experience of luxury shopping, is also the part of the realty project.
Abid A. Junaid, Executive Director, ETA Star, said, “As a true twin tower integrated development in Business Bay offering world-class facilities and attractions, the Starhill Towers & Gallery is certain to create a mark in Dubai’s property development setting. The significance of the project is amplified by its enviable location at the heart of Business Bay with waterfront views on one side and the prestigious Burj Dubai on the other”.
Eric Eoon Whai San, Executive Director,
Business Development, YTL Corporation; Arif B Rahman, Group Director,
Finance, ETA ASCON & Star Group; Abid A Junaid, Executive Director, ETA
Star & Toh Sze Chong, Director, DP Architects, Singapore
The 28-storeyed office tower in Business Bay, Dubai will offers freehold office spaces ranging from 924 sq ft to 1,645 sq ft and boasts of waterfront views for every office. Starhill Towers & Gallery is equipped with all the modern amenities including high-speed elevators, swimming pool and gym, excellent communication facilities, round the clock security and ample parking facilities. The construction of this real estate development is set to commence in the third quarter of 2007 and will be completed by the second quarter of 2010. ETA Star has also announced a special limited offer finance scheme of up to 80% finance without the loan-processing fee from the First Gulf Bank.
16-Apr-2007
First truly twin tower in Business Bay
Starhill Gallery of YTL Corporation Malaysia to be part of the project
Up to 80% finance without the loan-processing fee from the First Gulf Bank
ETA Star Property Developers LLC, the real estate development arm of the ETA-Ascon Group, has unveiled Dh1.5 billion Starhill Towers & Gallery located at Business Bay, Dubai comprising state-of-the-art freehold offices, a 5-star hotel and a luxury shopping mall. The famed Starhill Gallery, owned by the multi-billion dollar conglomerate YTL Corporation Malaysia and a world-class shopping destination that has redefined the experience of luxury shopping, is also the part of the realty project.
Abid A. Junaid, Executive Director, ETA Star, said, “As a true twin tower integrated development in Business Bay offering world-class facilities and attractions, the Starhill Towers & Gallery is certain to create a mark in Dubai’s property development setting. The significance of the project is amplified by its enviable location at the heart of Business Bay with waterfront views on one side and the prestigious Burj Dubai on the other”.
Eric Eoon Whai San, Executive Director,
Business Development, YTL Corporation; Arif B Rahman, Group Director,
Finance, ETA ASCON & Star Group; Abid A Junaid, Executive Director, ETA
Star & Toh Sze Chong, Director, DP Architects, Singapore
The 28-storeyed office tower in Business Bay, Dubai will offers freehold office spaces ranging from 924 sq ft to 1,645 sq ft and boasts of waterfront views for every office. Starhill Towers & Gallery is equipped with all the modern amenities including high-speed elevators, swimming pool and gym, excellent communication facilities, round the clock security and ample parking facilities. The construction of this real estate development is set to commence in the third quarter of 2007 and will be completed by the second quarter of 2010. ETA Star has also announced a special limited offer finance scheme of up to 80% finance without the loan-processing fee from the First Gulf Bank.
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