Ong Beng Seng’s New KL Hotel
Ong Beng Seng’s US$265 Million Kuala Lumpur Hotel Plan Awaiting Approval
Singapore hotel tycoon Ong Beng Seng and the Sultan of Selangor are waiting for Malaysia’s approval to build a US$265 million Four Seasons Hotel and Residences in Kuala Lumpur. The project would take advantage of the rise in tourist arrivals and demand for Malaysian property from overseas investors that pushed real estate prices in capital Kuala Lumpur to a record last year. The development, which will take three years to complete, would mark the fifth Four Seasons property for Mr Ong, the franchisee of the Hard Rock Hotel in Asia. The two-tower project will feature a 42-storey, 200-room hotel with 50 serviced apartments and 173 condominium units within in a 70-storey building that will be sold at more than US$289 per square foot.
