Hotel industry and travel news from around the Asia Pacific region: UAE to develop several major infrastructure projects in Indonesia, The Sands Torquay golf resort acquired and more...
The Sands Torquay Golf Resort Acquired for AUD12.8 Million
On 10 February 2021, Former Morgan Stanley investment banker, Jack Dahan, has acquired the Sands golf resort in Torquay on Victoria’s Bellarine Peninsula for AUD12.8 million. The Sands was being offered as a going concern asset on a "walk in, walk out" basis by Australia-based private lender Smart Wealth. The resort was last sold for approximately AUD23 million in 2017. The 76-hectare resort includes an 18-hole championship golf course designed by PGA tour winner Stuart Appleby, and a 112-room hotel previously operated under French-based multinational hospitality company, AccorHotels’ (“Accor”) Peppers brand. Opened in 2007, the resort possesses multiple income streams, including golf club memberships and green fees from public users, accommodation and conferencing, health club memberships and revenue from food and beverage offerings. According to Colliers International selling agents, it was understood that Dahan plans to reopen the hotel in the short term, after its COVID-enforced closure. Meanwhile, the golf course will also continue its operation to satisfy local and tourist demand. Dahan is also a director of Kangaroo Island Links, which is looking to develop a golf resort at Pelican Lagoon on Kangaroo Island.
Kanger Wins Contract to Build Two Blocks of Serviced Apartments in Genting Highlands
Kanger Ventures Sdn Bhd, a wholly-owned unit of Malaysia-based investment holding company, Kanger International Bhd (“Kanger”), has entered into a collaboration agreement with Malaysia-based Vegetta Champion Sdn Bhd to build two blocks of serviced apartments amounting RM478 million in Genting Highlands. The project is slated to commence in June 2021 and anticipated to take approximately four years to be completed. Prior to this announcement, Kanger has also recently announced their MYR142.9 million acquisition in a block of serviced suites situated within the Antara @ Genting Highlands complex from Malaysia-based Aset Kayamas Sdn Bhd (“Aset Kayamas”). Spanning across 2.16 hectares of freehold land, the complex is owned and developed by Aset Kayamas, and is located about 850 metres away from SkyAvenue, a premier shopping mall at the hill resort, and nearby Awana Skyway Chin Swee Station, one of the cable car stations. The project comprises four towers of 44 to 46 storeys serviced apartments, with a total of 1,460 units. Kanger’s executive director, Steven Kuah Choon Chin, mentioned that the recent developments of Genting Highlands would grow the area into a vibrant tourist destination, and believes that this acquisition would allow the company to better reposition itself and capitalise on its future growth prospects in Genting Highlands.
‘Nongsa D-Town’ Launched in Singapore-Indonesia Tech Park
Nongsa D-Town (“D-Town”), a Singapore-Indonesia “digital downtown” at Batam, Indonesia, was officially launched at a virtual event on 2 March 2021. The 62-hectare development is located just 40 minutes by ferry, with another 3-minute drive east from the Nongsapura Ferry Terminal, from Singapore’s Harbourfront and aims to digitally bridge tech companies and talents in both countries. Designed by Singapore-based Surbana Jurong and developed by two of Indonesia’s largest conglomerates – Citramas and Sinarmas Land – D-Town is designed to integrate with the surrounding nature and is easily accessible. The interconnected layout of D-Town includes the following: a town village, eco-friendly tech campuses, a town plaza and a commercial centre. The mixed-use block in the town village will feature two mid‑rise offices, a business hotel, strata co‑living spaces and shophouses. It is said to be a collaborative community hub for tech and creative talents, providing opportunities for rising startups from Singapore and Indonesia to easily work together in close physical proximity. The hub builds on the existing Nongsa Digital Park, a designated Special Economic Zone in Indonesia. Currently, the park has six tech office buildings and about 1,000 tech talents working there. When completed, D-Town is expected to be able to house another 8,000 tech talents.
UAE to Develop USD500 Million Tourism Resort in Aceh
Top Emirati and Indonesian ministers have confirmed that the United Arab Emirates (“UAE”) is to develop several major infrastructure projects in Indonesia, including a multimillion-dollar tourism resort in the Aceh province. This news comes after a series of business agreements were signed between Indonesia and UAE during a Jakarta visit by the UAE Energy and Infrastructure Minister, Suhail Al-Mazroui, on 5 March 2021. These agreements are a part of the USD22.9 billion deal signed during Indonesia President, Joko Widodo’s, Abu Dhabi visit in January 2020. The Aceh project agreement was signed by Aceh Governor, Nova Iriansyah, and Amine Abide, executive director of Murban Energy, a UAE company whose investment portfolio includes a slew of luxury resorts in Maldives and Seychelles. According to Indonesia’s Coordinating Minister for Maritime Affairs and Investment, Luhu Pandjaitan, the tourism resort development project in Aceh is valued at between USD300 million and USD500 million. Construction is expected to start in the Aceh Singkil district this May, with nine islands that Abide had earlier visited being shortlisted by the project, said the Indonesian Ambassador to UAE, Husin Bagis. Meanwhile, other deals which were followed up on the same day included a USD1.2 billion deal between UAE-based logistics company Dubai Port World and Indonesia-based Maspion group to develop a port and an industrial zone in Gresik, East Java.
Brand Conversions – an Untapped Opportunity in Indian Hotels Sector
By Akash Datta and Dipti Mohan
Hotel conversions are expected to increase in India in the next couple of years as both hotel owners and brands consider this win-win proposition to tide over the current downturn.
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