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Tuesday, March 9, 2010

YTL Hotels: Dubai project will pave way for more overseas ventures

YTL Hotels expects Pangkor Laut Luxury Resort, Residence & Spa Village, a resort development on The World in Dubai, to pave the way for similar developments outside the region.

It currently manages a collection of award-winning resorts and hotels in Southeast Asia.

"It's a fantastic opportunity for YTL Hotels to lend its brand for a world-renowned development. The exposure will be good for us as we look to expand," the resort manager for Pangkor Laut Resort, Jeffrey Mong, told Business Times in an interview.

The World, an idea conceived by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, is a man-made archipelago of 300 artificial islands constructed in the rough shape of a map, located 4km off the coast of Dubai.
The islands composed mainly of sand dredged from Dubai's coastal waters. Individual islands have been sold by the developer, Nakheel Group, for US$15 million to US$50 million (RM50.1 million to RM167 million).

Investors from Kazakhstan and Russia bought five islands to develop Pangkor Laut Luxury Resort, Residence & Spa Village.

A partnership agreement was signed between the investors and YTL Corp Bhd in 2008. YTL Hotels, the hospitality arm of YTL, was invited to bring its luxury hospitality to Dubai by licensing the brand Pangkor Laut and Spa Village for the project.

It was also appointed the sole operator for the resort, and to set up and manage the five-star spa.

Mong said the partnership will help the company's employees to learn and experience the management of a world-class asset.

Construction on the project, modelled after Pangkor Laut Resort, is half way and it will be ready by 2012.

This will be the first time YTL Hotels will manage a property without an equity investment.

Pangkor Laut Luxury Resort, Residence & Spa Village will offer a lifestyle package combining luxurious villas, townhouses and apartments, boutique restaurants and retail outlets.

The Pangkor Laut Luxury Resort will offer 120 deluxe guest rooms, 20 fully equipped luxury beachfront villas, shopping gallery, aqua park and an underwater nightclub - a first for Dubai.

The residential component, Pangkor Laut Luxury Residence & Spa Village, will offer 92 fully furnished apartments, 27 attached three-bedroom villas with a private pool, 34 independent luxury villas with private marinas, a community centre and spa.

By Business Times

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