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Saturday, May 15, 2010

New gameplan for YTL Land

An artist's impression of YTL Corp's Sandy Island project at Sentosa Cove in Singapore.

YTL Corp Bhd will inject some of its overseas projects into YTL Land & Development Bhd by the year-end to transform the property unit into an international player.

For a start, the group will place its three projects in Singapore - Sandy Island and Kasara villas in Sentosa Cove, and the redevelopment of Westwood Apartments on Orchard Boulevard - under YTL Land.

Currently, these projects are under YTL Singapore Pte Ltd, a wholly-owned unit of YTL Group.

YTL Corp managing director Tan Sri Francis Yeoh says YTL Land will be busy with more projects as the group focused on expanding its presence in Asia.

It will concentrate on building luxurious residences in highly-sought-after destinations that offer unique culture and lifestyle.

Yeoh says YTL Land can tap into YTL Corp's experience in building properties in Phuket, Pangkor, Bali and Sentosa Cove, Singapore.

YTL Corp has a low-density luxurious villa project in Bali, Indonesia, and a big development in Koh Samui, Thailand.

Its hospitality arm YTL Hotels & Properties Sdn Bhd recently acquired Niseko Village, a prime winter and summer destination in Hokkaido, Japan, for six billion yen (RM224mil).

YTL Hotels is also embarking on some overseas projects such as the Swatch Art Peace Hotel in Shanghai; the MUSE Hotel De Luxe in Saint-Tropez, France; and The Chedi in Phuket, Thailand.

Yeoh believes the next two to three decades will see Asia growing from an emerging market to a global economic powerhouse.

He says the South-East Asian region is also likely to see big growth over the next two decades. “The tourism and related industries in this region can be an incubator for bigger things.

“South-East Asia is actually the Mediterranean and Caribbean of the East, offering lots of opportunities from the real estate perspective,” he tells StarBizWeek in Singapore on Saturday.

Datuk Yeoh Seok Kian ... 'We aim to be a global developer of branded addresses.'

YTL Corp deputy managing director Datuk Yeoh Seok Kian says the group has great plans for YTL Land and these include establishing its footprint through iconic properties and communities worldwide.

“Ultimately, we aim to be a global developer of branded addresses, not because we can do so but because it presents us with a unique opportunity to make a difference in people's lives.

“We are extremely excited about the future of YTL Land. We will consolidate our Singapore properties - Sandy Island, Kasara villas in Sentosa Cove and Westwood Apartments in Orchard Boulevard - with our Malaysian portfolio. This is expected to take place in the last quarter of 2010,” says Seok Kian, who is also YTL Land executive director.

“We are not just building beautiful homes; we are contributing to the well-being of our homeowners, allowing them to lead a more fulfilling life while connecting with their loved ones,” he adds.

Through its projects like The Maple, Sentul Park and Lake Edge, the company has shown how it can enrich the lives of homeowners.

“Seeing kids running around parks or families strolling leisurely along the lake while interacting with their neighbours is a huge satisfaction for us.”

Stressing that Singapore will be a huge market for YTL Land, Seok Kian says the company will bid for land that will be put up for sale by Singapore's national land use planning and conservation agency, the Urban Redevelopment Authority.

YTL Singapore director Kammy Tan says the development of Sandy Island and Kasara villas in Sentosa Cove is underway and the projects are scheduled for completion by 2015.

So far, 15 of the 18 Sandy Island villas priced from S$15mil to S$16mil have been sold. They have built up of 7,000 to 8,000 sq ft.

The 13 Kasara villas of 10,139 to 17,362 sq ft with price tags from S$14mil to S$22mil have all been taken up.

By The Star

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