Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Monday, May 30, 2011

When developing a luxury resort is a hobby

KUALA LUMPUR: Cardiologist Dr N.S. Dhaliwal has ventured into a hobby which most people would call a business.

Sixty-five-year-old Dr Dhaliwal has decided to turn his passion for building houses into a project.

Together with two other partners, Michiel Leo Philip and Roger Mauclair Deslorieux, the team is building a luxury development with a gross development value of RM200 million in Kudat, Sabah. It is called the The Nyior Luxury Villas Borneo Beach Resort.

The project, which is expected to be launched in the third quarter of this year, will have 43 villas and 57 serviced suites. It will include a club house.

The project is being developed by Borneo Eco-Green Resorts Sdn Bhd, in which Dr Dhaliwal has a 40 per cent equity interest, Leo Philip 30 per cent and Deslorieux 30 per cent.

Built on a 10.13ha fronting the Marudu Bay, the two-, three- and four-bedroom villas will have a built-up of between 2,500 sq ft and 5,000 sq ft. However, each lot in itself is double the size of the built-up.

"They will be sold from RM2.5 million to RM5 million," Dr Dhaliwal, who is the managing director of the property, said.

It has already hired a marketing firm in the UK to handle the sale of the property.

The company is targeting to sell the property to specific markets like the UK, Russia, the Middle East and other high-profile buyers.

The Nyior, he said, is not to be confused with an earlier project called Kudat Riviera, launched by another developer. This project is said to have been abandoned.

The Nyior resort is said to be private and exclusive, and those who land at the Kota Kinabalu airport will then be transported via a 20-minute helicopter ride.

"We were looking for a place for us ... and realised this was quite big and decided to develop a resort instead," Dr Dhaliwal said.

The sea-front resort, he said, would give access to diving, particularly wreck-diving where shipwreck is explored.

The entire project could take three years to complete.

By Business Times

1 comment:

broowndavis said...

Silicon Realty is leading property sellers in chennai. They are dealing with buying and selling flats in chennai, Properites

in chennai, Realestate in chennai, Commercial building and office space in chennai and also they are involved in Residential

project marketing in chennai.

Silicon Realty Company is a private Ltd Company, full-service real estate firm specializing in Residential New Project Marketing,
Residential flats in chennai, Apartments in chennai.
office buildings to apartments in chennai, shopping centers to industrial warehouses in chennai and Selling and buying flats in chennai