M101 Skywheel achieved over RM530 million sales in 2017

MalayMail Wednesday, 17 January 2018

KUALA LUMPUR, January 2018 – M101 Holdings Sdn Bhd (M101) recently announced a total sale of RM530million for M101 Skywheel. Located at Kampung Baru, the project has a total gross development value (GDV) of RM2.2billion. Works on the project has commenced, and with the appointment of China Railway Construction Corporation Malaysia Berhad, the branded integrated development is scheduled for completion by 2021.

Dato’ Seth Yap, CEO of M101 said, “This achievement is attributable to M101’s Property Tourism business strategy. Hence, despite the weak market sentiment, we are still able to achieve outstanding results in less than a year of Skywheel’s official launch. Our sales achievement is a testament of both the local and international market’s confidence in M101 Skywheel.”

“Designed by Studio F. A. Porsche, M101 Skywheel is poised to be the next international landmark. Upon completion, M101 Skywheel will be an international tourist destination, helping to maintain Kuala Lumpur’s spot as a unique destination. We believe that our unique product positioning is also one of the drivers behind our success.”

A project supported by the Malaysian government, YB Dato’ Seri Mohamed Nazri bin Abdul Aziz, Minister of Tourism and Culture Malaysia said, “While other developers are looking at bread and butter products, M101 has taken a bold innovative step to champion property tourism. And by partnering with international brands such as Studio F. A. Porsche and Planet Hollywood, M101 not only excites the property scene, but also the local economy.”

Key contributors to the total sales of over half a billion-ringgit at M101 Skywheel were attributable to the various countries the project was launched; Indonesia with RM100million, India with RM80million, China with RM100million, Japan RM100million and Malaysia RM150million.

“We saw outstanding take-ups throughout the year in various countries. In Indonesia, we have top agencies such PROJEK Indonesia, Century 21, and ERA signing on their commitment to market M101 Skywheel. In India we also saw established agencies such as REMAX India and Connection Point signing up to work closely with our team,” said Dato’ Seth Yap.

“Additionally, local agencies such as MetroHomes, Rina Properties and Taras have also committed to RM150million group purchase. We believe that it is only when you have the right product and have proven your commitment to build that you can inspire such confidence,” added Dato’ Seth Yap.

M101 is optimistic that the flagship project will continue to see exceptional interest, both locally and internationally. The Company is confident that with its unique product positioning coupled with the Property Tourism business strategy, sales will continue to do well. Moving forward, the Company plans to intensify efforts in countries such as Hong Kong, Taiwan, Indonesia, Singapore, China, Japan, Korea, Philippines, Brunei, Sri Lanka, India and Bangladesh.

Also in line with the M101’s property tourism business strategy, the Company has also kick started its hospitality arm, Sirocco Hospitality Group (Sirocco). Sirocco is poised to be a comprehensive hospitality consultancy and advisory group. Kicking start with the opening of M101 Dang Wangi, a 4-start hotel named RED by Sirocco, Kuala Lumpur; Sirocco will also be managing the hotel at M101 Bukit Bintang and later on Planet Hollywood Suites at M101 Skywheel.

In 2017, M101 won several awards namely; Property Insight’s Prestigious Developers Awards 2017 for Best Emerging Developer, Property Insights’ Prestigious Developers Awards 2017 for Best Iconic Development for M101 Skywheel, The Malaysian Property Press Awards 2016/2017 Outstanding Emerging Developer of the Year, The Malaysian Property Press Awards 2016/2017 Best Iconic Branded Integrated Development of the Year.