BND Global eyes land, JV in KL

KUALA LUMPUR: BND Global Development Sdn Bhd, which is jointly developing Roppongi in Cyberjaya with Tan Sri Clement Hii’s HCK Capital Bhd, is looking to expand in Kuala Lumpur.
Roppongi’s GDV is in excess of RM2 billion and measures 24.7 acres.
BND Global CEO Vincent Fong said it is already in talks with landowners and potential partners. He said it is open to acquiring land or joint ventures with landowners in Kuala Lumpur.
“We are negotiating for further projects but mainly in the Kuala Lumpur region. We must be consistent with what we are doing. Of course, we are not going to build any other mixed development or accommodation. What we intend to do is bring value like education and something that is a bit more boutique,” he told reporters at a signing ceremony yesterday.
Fong said that his family, via Poly Glass Fibre (M) Bhd, has some 2,000 acres in Tanjung Malim, Perak.
“That is going to be a very big project. We intend to start with a few smaller ones first before we embark on a 2,000-acre project. This is something we plan for maybe five to seven years down the road,” he added.
Yesterday, the developer appointed Container Hotel Group (CHG) and Everly Group to manage a 300-room international youth hotel at its maiden project, Roppongi in Cyberjaya. HCK Capital is the landowner.
Fong said ground works have already started and construction of the hotel will be completed in the third quarter of 2019. The hotel is expected to welcome its first guest in 2020.
“The gross development value (GDV) for this international youth hotel will be in excess of RM100 million but of course, a lot of the cost will only begin three years from now because the (cost of) furnishing and design depends on the cost three years from now,” he said.
The 20-storey hotel will be housed in one block within Roppongi, an education hub that will house SEGi College, Cyberjaya University College of Medical Sciences (CUCMS), an international school, a shopping mall, student hostel and other residential components.
He said the hotel will have a ready market of over 5,000 students when CUCMS begins operations in 2018.
CHG and Everly have set up a joint venture company Everly CHG Sdn Bhd to manage the hotel’s operations for 10 years with an option to extend for a further five years. Targeted at students, visiting professors, families and friends of students, the hotel’s estimated room rate is between RM180 and RM250.