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Old March 10th, 2009, 03:25 PM   #161
nazrey
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Four Seasons KL launch delayed
By Sharen KaurPublished: 2009/03/10

VENUS Assets Sdn Bhd, controlled by property tycoon Ong Beng Seng, has postponed the launch of its RM2 billion Four Seasons Hotel and Condominium tower project in Kuala Lumpur due to the worsening economic conditions.

Sources said the launch was also being delayed as it was still firming up details on development matters.

While it was unclear what the details were, the company has obtained Kuala Lumpur City Hall's approval to increase the condominium block to 65 storeys from 60.

It has also completed piling works at the 1.04ha site, sandwiched between Menara Maxis and Wisma Central.

Business Times was told that Venus Assets was considering launching the project at the end of this year or next, provided the business environment improved.

It had considered launching the project last year. The project then was to comprise a 72-storey condominium block, later reduced to 60, and a 38-storey hotel building.

The condominium block was to be a joint project between Venus Assets and KLCC Holdings Bhd, developed on a 0.64ha site adjacent to Menara Maxis and owned by KLCC Holdings. Another 1.04ha was reserved for the 38-storey hotel building.

Due to unforeseen circumstances, the plan was aborted. Instead, Venus Assets will build the 65-storey tower featuring condominium and hotel units.

"Venus Assets is quite comfortable at the moment and is not rushing to launch the development. It will wait and see how the market turns out over the next few months," a source said on condition of anonymity.

The tower will house 240 hotel rooms, 150 condominium units, six levels of parking and four retail floors. It will take four years to build.

The source said it was wise of Venus Assets to delay the launch as it would not be able to fetch the required market price.

Venus Assets was looking at pegging the condominium units from RM3,000 per sq ft (psf), and the hotel rooms from RM750 per night.

"I don't think they will be able to get that now as prices have fallen by 15-25 per cent for luxury condominiums in Kuala Lumpur. If they launch now, their development value may drop by that range," the source added.

Venus Assets is the owner and developer of the tower project. Its chairman is Tan Sri Syed Yusof Syed Nasir, who handles the business interests of Selangor's Sultan Sharafuddin Idris Shah.

The Sultan and Syed Yusof are close associates of Ong, who owns Four Seasons resorts in Bali, Singapore and the Maldives.

Ong is the controlling shareholder of Singapore's Hotel Properties Ltd, Southeast Asia's second largest hotelier by market value.
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Old March 13th, 2009, 12:55 PM   #162
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recent news!

Quote:
Originally Posted by rizalhakim View Post
Tallest Four Seasons coming up in KL
By Vasantha Ganesan
Published: 2009/03/13



TWO tycoons and a royalty will go ahead and build the RM2.5 billion Four Seasons Place in Kuala Lumpur although a global economic crisis threatens to hurt demand for expensive hotels and apartments.

The much awaited property, located next to the Petronas Twin Towers, will be ready in 2012, says its developer Tan Sri Syed Yusof Syed Nasir.

It comprises a hotel, apartments and a mall, and will be the world's tallest Four Seasons development.

Four Seasons Place is being built by Venus Assets Sdn Bhd, a firm controlled by Ipoh-born tycoon Ong Beng Seng, Syed Yusof and the Sultan of Selangor.

"We are committed to the project even during the downturn as it has a huge multiplier effect," Venus Assets chairman Syed Yusof told Business Times in a rare interview.

It expects to hire contractors for the building in the third quarter of the year.

Venus Assets bought the prime 1.05ha site for RM90 million in 2003 from the estate of the late Khoo Teck Puat, the former major shareholder of Standard Chartered plc, a British bank.

"We received the development order (last December) and we are now evaluating various proposals from the contractors to do the job. We have completed piling works, he said.

Piling work for the building, located between Wisma Central and Menara Maxis, started in 2007, two years after the project was announced.

"There was a pause in the project only because we were redesigning the building in terms of positioning and the composition.

"Previously, the Four Seasons was supposed to encompass two towers, but now it will all be a single 65-storey tower," Syed Yusof said.

The redesigning meant a new proposal had to be submitted to the authorities for approvals and it took time to obtain the green light.

The building, described as futuristic and sleek, will complement the Twin Towers and enhance the Kuala Lumpur skyline.

"We have included a 150,000 sq ft of retail component into the tower. The hotel will have 250 keys of which 150 are hotel rooms and 100 serviced apartments.

"There will also be 140 units of apartments which will be sold," Syed Yusof said.


The entire component will be ready simultaneously and will be managed by Four Seasons.

The apartments, which start from 3,000 sq ft per unit, will be sold for about RM2,500 per sq ft.

"The cost of construction for all components including land and interior design is RM1.4 billion and the estimated gross development value of the project is RM2.5 billion," Syed Yusof said.

When asked what kind of average room rate the hotel may fetch when ready, he said, "Four Seasons is a rate leader with rates which are usually 20 per cent to 30 per cent higher that the existing rate leaders," he said.

The rate leader in Kuala Lumpur City Centre currently garners between RM600 to RM700 in ARR. This means that Four Seasons may lift the bar to between RM800 and RM900 per night.

..........wow the cost of dis project will be 2.5billion for a single block tower??dem xpensive betol!!!.......
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Old March 14th, 2009, 01:58 PM   #163
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Tallest Four Seasons coming up in KL
Friday, March 13, 2009
Business Times (by Vasantha Ganesan)

TWO tycoons and a royalty will go ahead and build the RM2.5 billion Four Seasons Place in Kuala Lumpur although a global economic crisis threatens to hurt demand for expensive hotels and apartments.

The much awaited property, located next to the Petronas Twin Towers, will be ready in 2012, says its developer Tan Sri Syed Yusof Syed Nasir.

It comprises a hotel, apartments and a mall, and will be the world's tallest Four Seasons development.

Four Seasons Place is being built by Venus Assets Sdn Bhd, a firm controlled by Ipoh-born tycoon Ong Beng Seng, Syed Yusof and the Sultan of Selangor.

"We are committed to the project even during the downturn as it has a huge multiplier effect," Venus Assets chairman Syed Yusof told Business Times in a rare interview.

It expects to hire contractors for the building in the third quarter of the year.

Venus Assets bought the prime 1.05ha site for RM90 million in 2003 from the estate of the late Khoo Teck Puat, the former major shareholder of Standard Chartered plc, a British bank.

"We received the development order (last December) and we are now evaluating various proposals from the contractors to do the job. We have completed piling works, he said.

Piling work for the building, located between Wisma Central and Menara Maxis, started in 2007, two years after the project was announced.

"There was a pause in the project only because we were redesigning the building in terms of positioning and the composition.

"Previously, the Four Seasons was supposed to encompass two towers, but now it will all be a single 65-storey tower," Syed Yusof said.

The redesigning meant a new proposal had to be submitted to the authorities for approvals and it took time to obtain the green light.

The building, described as futuristic and sleek, will complement the Twin Towers and enhance the Kuala Lumpur skyline.

"We have included a 150,000 sq ft of retail component into the tower. The hotel will have 250 keys of which 150 are hotel rooms and 100 serviced apartments.

"There will also be 140 units of apartments which will be sold," Syed Yusof said.

The entire component will be ready simultaneously and will be managed by Four Seasons.

The apartments, which start from 3,000 sq ft per unit, will be sold for about RM2,500 per sq ft.

"The cost of construction for all components including land and interior design is RM1.4 billion and the estimated gross development value of the project is RM2.5 billion," Syed Yusof said.

When asked what kind of average room rate the hotel may fetch when ready, he said, "Four Seasons is a rate leader with rates which are usually 20 per cent to 30 per cent higher that the existing rate leaders," he said.

The rate leader in Kuala Lumpur City Centre currently garners between RM600 to RM700 in ARR. This means that Four Seasons may lift the bar to between RM800 and RM900 per night.
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Old March 14th, 2009, 03:43 PM   #164
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Nice project..................
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Old March 14th, 2009, 11:56 PM   #165
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The contributing photographers on this thread are amazing! Fantastic images!!

IMHO - The design is outstanding. I really enjoy the simplicity of form combined with what appears to be great force holding the building together and the beautiful bulging curve of the outside walls. It speaks of great strength and balance. Awesome.

And, the pics of the Petronas towers (especially at night) are stunning. Very inspiring!
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Old March 15th, 2009, 05:55 AM   #166
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Hello friends! This project seems a "copypaste" of Costanera Center in Santiago, Chile. (300 mts, 70 floors)
Costanera Center is under construction (+/+100 mts, actually) and It's a Pelli's design.
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Old March 15th, 2009, 08:04 AM   #167
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Retail

[IMG]http://www.**************/show/2009/03/15/07/13/2826849_641x365.JPG[/IMG]

Tower

[IMG]http://www.**************/show/2009/03/15/07/19/2826946_714x1224.JPG[/IMG]
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Old March 15th, 2009, 08:09 AM   #168
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Four Seasons Place
Client: Venus Assets Snd. Bhd.
Architect of Record: NRY Architects

[IMG]http://www.**************/show/2009/03/15/07/11/2826829_383x854.JPG[/IMG]
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Old March 15th, 2009, 08:18 AM   #169
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The main tower is absolutely identical to the "Gran Torre Costanera", Project Costanera Center, under construction in Santiago de Chile, which is the highest office tower in South America and the South (300 mts, 70 floors).

....Interesting to know who copied who .......

Bye!!
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Old March 15th, 2009, 08:23 AM   #170
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Quote:
[IMG]http://www.**************/show/2009/03/15/07/00/2826756_322x532.JPG[/IMG]
image hosted on flickr


image hosted on flickr


image hosted on flickr
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Old March 16th, 2009, 11:16 AM   #171
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A two-towered complex (one near-supertall and a shorter tower about half its size) gets replaced by a single 65-story tower with only 250 units (150 hotel and 100 residential). I should have redesigned the complex so it would contain more units than that.
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Old March 17th, 2009, 06:51 PM   #172
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OFF TOPIC!

Costanera Center / CENCOSUD - Santiago de Chile - by Pelli





Maqueta





Last edited by cuaticocl; March 17th, 2009 at 07:04 PM.
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Old March 17th, 2009, 11:14 PM   #173
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The resemblance between the Chilean and the Malaysian project is uncanny.

However, if u care to observe carefully, you'll notice that the details are different from each other.

The two buildings is just as similar to each other as Torre Agbar in Barcelona with the Swiss Re Tower in London.
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Old March 17th, 2009, 11:45 PM   #174
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nice video =)
...
btw .. any update of the Four Season Tower???? ...
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Old March 18th, 2009, 04:21 PM   #175
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OFF TOPIC!

SAN FRANCISCO | Transbay Tower | 366m | 1200ft | Pro
by Pelli

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Old March 20th, 2009, 09:46 PM   #176
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by monstermunch99
http://www.flickr.com/photos/monster...7615503978452/

image hosted on flickr
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Old March 21st, 2009, 03:30 PM   #177
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by Darena
http://www.flickr.com/photos/[email protected]/3371619671/

image hosted on flickr
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Old March 21st, 2009, 03:55 PM   #178
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65 fl should this one be in skyscrapers list?
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Old March 21st, 2009, 04:00 PM   #179
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Indeed! since Menara Maxis rises to 212m.
source: http://www.emporis.com/en/wm/bu/?id=105769
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Old March 23rd, 2009, 02:48 PM   #180
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----

Last edited by World 2 World; March 24th, 2009 at 12:03 AM.
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