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Friday, July 4, 2008

Meeting to discuss Low Yat’s hotel plan

GEORGE TOWN: The Low Yat group’s proposed hotel project on the famous millionaire’s row, Jalan Sultan Ahmad Shah, will be discussed next week at a Penang Island Municipal Council (MPPP) meeting.

Sources told StarBiz the meeting, scheduled for July 10, would consider the plans submitted for a 23-storey hotel with 399 rooms on a 5,759 sq m site.

So far no approval has been given for the project.

“If there are no objections from the council approving body, the plans for the hotel would be approved. Construction work can begin as soon as approval is received,” the sources said.

The group is reviving the hotel because it believes the present state government has adopted a pro-active business stance.

However, it has not yet decided on the subsidiary to undertake the hotel development. The Low Yat group’s building plan for a three-storey commercial property scheme in Batu Ferringhi was approved last month.

“The project comprises nine shop-lots and 18 office units,” the sources said.

The group's plans for a residential project comprising 101 bungalows, 121 apartments and 18 villas in Batu Ferringhi, however, it have yet to be approved.

In 2005, executive chairman Tan Sri Low Yow Chuan had criticised the then state government for taking a long time to approve projects and for not being business-friendly.

The group is responsible for the development of the country’s first five-star hotel, Federal Hotel, in the 1950s.

It also developed the City Square shopping mall and Crown Princess Hotel, both in Kuala Lumpur.

By The Star - StarBiz - (by David Tan)

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