The agreements were signed by Mr. Dato' Othman Hj. Omar, CEO of Oxley Holdings (Malaysia) Sdn Bhd (Oxley Malaysia), and Mr. Gerald Lawless, President and Group CEO, Jumeirah Group on Tuesday last week.
This comes after both parties began negotiations after the signing of a letter of understanding (LOU) in December last year. Jumeirah Group was to provide advisory technical assistance to Oxley Malaysia in connection with planning, architectural, interior design, landscape and the brand design guidelines.
The 6-star Jumeirah Kuala Lumpur Hotel and Jumeirah Living Kuala Lumpur Residence will be set within one of the three towers which make up the landmark mixed development called Oxley Towers, situated on Jalan Ampang.
The development is aimed at bringing international prestige to Kuala Lumpur and is set to transform the skyline of the city. It is also expected to host Malaysia's first Sofitel So hotel and residences, which its management agreements will be formalised soon.
The developer, Oxley Rising Sdn Bhd, is a subsidiary of Oxley Malaysia, which in turn is a wholly-owned subsidiary of Singapore-listed property developer Oxley Holdings Ltd.
The three towers of 79, 49 and 28 storeys, interconnected via a 8-level retail podium, will be located next to the Kuala Lumpur City Centre (KLCC) precinct within easy reach of the Petronas Twin Towers, Maxis Tower and the Kuala Lumpur Convention Centre.
It will be the city's first triple towers. Construction of the development, which will cover an area of more than 12,500 square metres, or 135,000 square feet, is expected to start in 2016 and complete in 2021.
The Jumeirah brands will be hosted within the 49-storey tower. Jumeirah Living Kuala Lumpur Residence will be located on the lower floors of the tower while Jumeirah Kuala Lumpur Hotel will occupy the upper floors offering spectacular views across the city.
The hotel will feature 190 rooms and suites, an all-day dining restaurant, a fine dining restaurant, a lounge and a bar, as well as a finely appointed Club Executive and a Talise wellness facility comprising a spa, fitness club and swimming pool.
Mr. Ching Chiat Kwong, Chairman and CEO of Oxley, said: "We are pleased to announce we have taken a step forward with the milestone agreement with Jumeirah Group to build a hotel and residences in Kuala Lumpur."
"This partnership with Jumeirah Group further enlarges and reiterates our presence in the Malaysian market. We are excited, delighted and proud to be Jumeirah's first business partner in Malaysia to introduce the Jumeirah experience, an epitome of luxury, to guests staying in our hotel."
"Jumeirah Group has created a portfolio of world-class hotels with excellent operational performance and with this hotel being the first Jumeirah hotel in Malaysia, we are confident of this holistic journey."
"Kuala Lumpur is both a travel and business destination to many. We believe our hotel and residences which lies in the heart of a bustling city with close proximity to the many landmarks of Kuala Lumpur is a gem to travellers."
"We are looking forward to begin this successful relationship to deliver a truly luxurious experience with Jumeirah," added CEO of Oxley Malaysia, Mr. Dato' Othman Hj. Omar.
Speaking at the signing of the agreements, Mr. Gerald Lawless, President and Group CEO, Jumeirah Group, said: "Our agreement with Oxley Malaysia paves the way for Jumeirah's entry into the important Malaysian market."
"This highly prestigious development further reinforces the reputation of the Jumeirah brand and will greatly appeal to our loyal customers who stay with Jumeirah in our properties across Europe, the Middle East and Asia. We are proud to have been chosen as a partner and look forward to the launch of a new expression of outstanding luxury in the Malaysian capital."
Jumeirah Group's entry into the Malaysian market is a significant milestone for the award-winning company as it continues its ambitious expansion plans across the globe.
The Group currently operates 23 hotels in Europe, the Middle East and Asia and has a further 25 Jumeirah and VENU properties in the pipeline. Its flagship property is the iconic Burj Al Arab Jumeirah, the symbol of modern Dubai.
Jumeirah Group operates a full-service office from Singapore focused on development and sales, offering expert regional advice and support.
In addition to Jumeirah Himalayas Hotel in Shanghai, China which opened in 2011, there are now 11 projects in the Asia-Pacific pipeline being developed in India (Mumbai), Indonesia (Bali) and China (Guangzhou, Hangzhou, Qiandaohu, Nanjing, Wuhan, Macau, Haikou and Sanya).
The Group is in negotiations for further properties across the region including in Thailand, Cambodia and Singapore.
In November 2013, Oxley Holdings Ltd bought this 3.42-acre freehold tract of land on Jalan Ampang from vendor Loke Wan Yat Realty Sdn Bhd for a record-breaking price at that time of RM3,325 psf, or RM446.7 million.
The land had six bungalows and was occupied by a Nasi Kandar Restaurant Pelita outlet and Restaurant Chef Choi. As of today, the project has been approved by Kuala Lumpur City Hall (DBKL) for a plot ratio of 14.
Oxley, in typical Singaporean developer style, had earlier held a design competition among six architectural firms from Malaysia and Singapore. Malaysia's Veritas Architects was then selected to be the lead designer for the development.
In the next several years, the Kuala Lumpur market is expected to welcome some of the world's best known hospitality brands and branded residences. Some of the exciting brands as listed as follows.
- Four Seasons Hotel and Private Residences;
- Fairmont Hotel and Residences;
- Kempinski Hotel and Residences;
- Park Hyatt Kuala Lumpur;
- W Hotel Kuala Lumpur;
- Hilton Kuala Lumpur City Centre and Residences;
- Banyan Tree Signatures Hotel & Spa and Banyan Tree Residences;
- The RuMa Hotel and Residences;
- HYATT house Kuala Lumpur at Arcoris Mont'Kiara;
- Holiday Inn Express Kuala Lumpur;
- Mercure Kuala Lumpur Shaw Parade;
- Artés by Autograph Collection at Empire City;
- The St. Regis Kuala Lumpur Hotel and Residences (Completing Soon);
- The Ritz-Carlton Residences Kuala Lumpur (Completing Soon);
- The Ritz-Carlton Hotel and Residences at Empire City;
- Le Méridien Hotel Putrajaya;
- Marriott Empire City Hotel;
- Sheraton Petaling Jaya Hotel; and
- Mövenpick City Resort & Spa at the Kuala Lumpur International Airport.