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Wednesday, March 11, 2009

Casa del Rio project along river to be operational by mid-2010

The RM102 million Casa del Rio Melaka boutique hotel, mall and apartment will be operational by June 2010.

The four-storey project, involving 64 bedroom suites and 32 apartments, will sit on 1.29ha along the Malacca River. The apartments will be offered for sale.

Casa del Rio (Malaysia) Sdn Bhd group managing director Tan Sri Syed Yusof Syed Nasir said that it had invested some RM10 million to acquire the land, which is in addition to the RM102 million investment into the project.

Casa del Rio (Malaysia) owns and manages Casa del Rio hotel. Casa del Rio is Spanish for "home by the river".
Bank Pembangunan Malaysia Bhd yesterday signed a term-loan agreement of RM50 million with its owner Casa del Rio (Malaysia).

A separate agreement was also inked yesterday between Casa Del Rio and Sin Seong Hin Sdn Bhd, where the former awarded a RM60 million contract to the latter to develop the second phase for main building works.

On why there is a six months delay in the opening of the hotel, Syed Yusof said that it was a result of the piling work as well as the tender process for the job.

Syed Yusof also operates the 570-room Concorde Hotel Kuala Lumpur, the 381-room Concorde Shah Alam and the 338-room Concorde Inn KLIA.

Other hotels operated by the group are the 18-room Lakehouse in Cameron Highlands, the 34-room Casa del Mar Langkawi, and specialty restaurants Saloma Theatre Restaurant and Bistro, Hard Rock Cafe and Planet Hollywood in Kuala Lumpur.

By Business Times

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