Shangri-La Confirmed for Planned Luxury Melbourne CBD Development
21 Jun 2017
S P Setia Berhad Group, the premier Malaysian property developer, and Shangri-La Hotels and Resorts, the leading Asia-based luxury hotel group, today announced Shangri-La as the official hotel operator for the planned landmark luxury development in Melbourne’s CBD.
S P Setia Chairman, Tan Sri Dato’ Seri Dr Wan Mohd Zahid, and Shangri-La Asia Chief Executive Officer, Mr LIM Beng Chee, formally confirmed the arrangement at a ceremony in Melbourne attended by international guests and media.
Located at 308 Exhibition Street, the Cox and Fender Katsalidis-designed two-tower development overlooking Melbourne’s World Heritage-listed Carlton Gardens is currently under consideration for planning approval.
When it is completed in 2022, it is expected the luxury five-star Shangri-La Hotel, Melbourne will feature an estimated 500 guest rooms with three levels of amenities for guests to enjoy, including a sky lobby, restaurants, spa, fitness centre, pool and a state of the art ballroom.
The second tower will include some 300 luxury residential apartments as well as office space. A sky bridge will connect the two towers, and retail space will occupy the lower levels of the development.
Speaking at today’s event in Melbourne, S P Setia Chairman, Tan Sri Dato’ Seri Dr Wan Mohd Zahid said the appointment of Shangri-La supported the project’s vision to deliver an iconic development that increases capacity, creates local economic development opportunities, and sets a new benchmark for five-star luxury in Melbourne.
Shangri-La Asia’s Chief Executive Officer Mr LIM Beng Chee said, “Shangri-La is privileged to be selected as the hotel operator for this world-class S P Setia development, which will be an architectural masterpiece and an iconic part of Melbourne’s skyline for decades to come. We look forward to bringing Shangri-La’s hallmark ‘hospitality from the heart’ to Melbourne, Australia’s event capital.”
Tan Sri Wan Zahid added that “S P Setia is honoured to appoint Shangri-La, an iconic global brand that represents the highest standards of quality, as the hotel operator to this development. Through the design and construction phases and for many decades to come as a luxury residence, retail and hotel precinct, the economic benefits of this project will be significant for Melbourne.”
About Shangri-La Hotels and Resorts
Hong Kong-based Shangri-La Hotels and Resorts, one of the world’s premier hotel management companies, currently operates over 95 hotels in 22 countries and 73 destinations under the Shangri-La, Kerry, Hotel Jen and Traders brands. Prominently positioned in Asia, the group has established its brand hallmark of “hospitality from the heart” over four decades in Asia-Pacific, the Middle East, Europe, North America and the Indian Ocean. The group has a substantial development pipeline with upcoming projects in Australia, mainland China, Cambodia, Indonesia, Malaysia, Saudi Arabia and Sri Lanka. For more information, please visit www.shangri-la.com.
About S P Setia Berhad
Since its incorporation in 1974, S P Setia has been a household name in the property development industry. The Group is recognised as one of Malaysia’s leading listed real estate players with a portfolio that encompasses townships, eco-sanctuaries, luxury enclaves, high-rise residences, commercial and retail developments.
S P Setia was ranked No.1 in The Edge Malaysia Top Property Developers Awards for the 9th time in 2016, the only developer to have achieved this feat since the inception of the awards. S P Setia is also the only Malaysian developer to have received 7 FIABCI Prix d’Excellence Awards by the International Real Estate Federation (FIABCI) and 9 FIABCI Malaysia Property Awards.
The Group is well-established in the three key economic centres of Malaysia, namely Klang Valley, Johor Bahru and Penang and also has a project in Sabah. Its international reach now includes five countries which are Vietnam, Australia, Singapore, China and the United Kingdom.
As of 31 March 2017, the Group has 30 ongoing projects, with an effective stake of 5,141 acres in undeveloped land banks remaining and RM75.72 billion in Gross Development Value.