YOKOHAMA (Japan): The city of Yokohama announced today that the bidder team under BMD62, which was formed by Berjaya Corporation Berhad (BCorp) with Marubeni Corporation and Daiwa House Industry Co Ltd, has been awarded as the prospective developer for the proposed development of a global luxury hotel and hotel condominium, aquarium and retail outlets on a piece of land measuring approximately 22,188.34 sq m at 3-2, 6-chome Minato Mirai, Nishi District, Yokohama, Japan (Project).
BCorp as the controlling stakeholder, will enter into a joint venture with Marubeni Corporation and Daiwa House Industry Co, Ltd for developing the Project. BCorp has already obtained an exclusivity via a Letter of Intent to bring in global luxury hotel brand, Four Seasons Hotels and Resorts, to manage the hotel.
In addition, the restaurants and shops that are to be opened by the waterfront are considered very rare in the Yokohama. There are also not many projects in the nearby areas that have a luxury hotel and aquarium as an entertainment facility, and therefore this new Project is expected to bring in excitement and vibrancy to the city of Yokohama.
Construction of the Project is expected to commence in October 2022 and complete in March 2026.
“Yokohama is the second largest city in Japan by population and the most populous municipality of Japan,” said BCorp Executive Chairman Tan Sri Vincent Tan.
“We expect this Project with the luxury class hotel, aquarium integrating the latest digital technology and real marine life will bring further energy and prosperity to the City of Yokohama. I am sure that with the prestigious Four Seasons branding and management, along with its strategic location in Yokohama will add value to the Project.
“This Project is similar to our Four Seasons Hotel & Hotel Residences in Kyoto, also in Japan whereby the BCorp Group recently concluded the sale of its hotel components for a significant gain exceeding RM600 million.
“The BCorp Group is also developing a Four Seasons Hotel in Okinawa, Japan and we expect the construction to commence in end 2020 whilst this Four Seasons Hotel in Yokohama is targeted to commence construction in end 2022. I am confident that the venture will contribute positively to the future earnings of the BCorp Group.”
