If the recent surge in announcements involving world-class luxury hotel developments are anything to go by, Kuala Lumpur is evidently ready for a different level of luxury and services. Clearly the gauntlet has been thrown and industry watchers and consumers alike are aflutter with excitement as to how this will transform the hospitality landscape in Kuala Lumpur. The standard and quality of service and professionalism will have to be raised along with the overall quality of resources required which, by all accounts, bodes well for everyone involved.
The storied Low Yat Group, a household name in hospitality and property development is one local player responding positively to this new challenge. It plans to set itself apart by promoting a unique brand of Malaysian style hospitality at its best to a focused audience of investors mainly from gateway cities such as Hong Kong, Singapore, Taipei and Shanghai.
“Our goal will be to bridge the gap in expectation from investors that are willing to pay a price tag of RM3,000 per square feet and the practical reality of what the hospitality business can offer,” said Jesse James, Senior Manager for Fairlane Hospitality (FLH), a bespoke asset management services outfit setup by the Low Yat Group to deliver all the benefits without the inconvenience normally associated with property ownership by combining value added asset management services and excellent returns.
“We are here to stay to take care of your investment,” James gamely added to emphasize the investor-centricity of FLH’s focus.
The Fairlane Hospitality Collection is a portfolio of high-end serviced properties in choice locations such as the Bintang Fairlane Residences in the heart of Kuala Lumpur’s central business district and the international class Shiki Niseko resort in Niseko in Hokkaido, Japan.
The latest addition to this portfolio is the 38 storey TriBeCa development with its playful, individually coloured windows, which is sure to make it a landmark in the Imbi/Bukit Bintang area, a well-known tourist hotspot. Bold, individual and trendsetting, the TriBeCa development leads the Low Yat Group’s charge into luxury urban lifestyle projects.
Clearly, savvy investors today consider much more than just product and pricing. They seek both a sound and sustainable investment, as well as a product that can serve their lifestyle — features TriBeCa has in spades.
Sitting on a choice parcel of freehold land on Jalan Imbi, TriBeCa’s strategic location will appeal to investors — from locals attracted by Imbi’s future as a stylish and vibrant urban neighbourhood and to foreigners looking for a convenient and safe base in South East Asia such as Europeans seeking Malaysia’s warm hospitable climate or those taking advantage of the Malaysia My Second Home (MM2H) Programme or the increasingly numerous Japanese, Chinese & Middle Eastern travellers drawn to Malaysia’s status as a multi-racial society with good access to a wide selection of international cuisine.
TriBeCa will combine the style and luxury of a luxury hotel with the space and comfort of a luxuriously appointed apartment to create a whole new experience. Designed for both long stay comfort and value, as well as short stays, it offers exceptional business, entertainment and lifestyle services for travellers, business people or those just looking for a change to recharge their batteries.
TriBeCa’s amenities will include a dedicated concierge team, meticulous housekeeping, fitness, business as well as dining services. Guests will have the option of staying for a month or more allowing time to explore everything that KL has to offer or shorter stays for those on business, seeking temporary refuge from a house renovation, or simply in a period of “transition“ in their lives.
TriBeCa’s raison d’etre will be about choices, blurring the lines that traditionally separate serviced apartments from hotels, a move likely to be popular among both business and leisure travellers alike.
When coupled with the expert services of FLH, TriBeCa is well positioned to thrive well into the future despite the steep competition from the best the hospitality and development world has to offer.
First thrust into the Malaysian public’s consciousness in 1957, the Low Yat Group built Malaysia’s first international class hotel, The Federal Hotel. Opened by Malaysia’s first Prime Minister Tunku Abdul Rahman on 26 August 1957, the hotel helped house the VVIPs, diplomats and leaders who flew in from around the world to witness Malaysia’s independence from British rule. A defining moment for the Group and helped signal Kuala Lumpur’s arrival on the world stage.
The Group has continued its pioneering ways with the mega integrated development, City Square Centre, which won the FIABCI Commercial Development Award in 1994 and Plaza Low Yat which earned the accolade “Malaysia’s Largest IT Mall” by the Malaysian Book of Records in 2009. This pioneering spirit is now in its 3rd generation with no signs of slowing down.
The Group’s patriarch, Tan Sri Low Yow Chuan, recently picked up the iconic Mayor’s Commendable Award for Outstanding Contribution at the Kuala Lumpur Mayor’s Tourism Awards (KLMTA) 2014, the “Oscars“ of the local tourism industry. There, Low was widely acknowledged as the driving force behind Kuala Lumpur’s tourism industry since the early 1960s.
The Group’s Executive Director, Ms Low Su Ming, intends to build on her grandfather’s pioneering work and she clearly is on the right track with TriBeCa, which will be Imbi’s first hospitality suite. It successfully launched in 2013 and quickly set a record of RM1,800 per square feet then, putting smiles on investors who had their investment appreciate 20-30% in less than 2 years.
Fast making its mark on the local scene, TriBeCa and the Fairlane Hospitality Collection is quickly establishing its unique brand of Malaysian style hospitality at its best. Yet another feather in the Low Yat Group’s list of accolades.