Minister of Federal Territories Officiates Ground Breaking Ceremony of M101 SkyWheel

KUALA LUMPUR, 8 September 2016 – Yang Berhormat Dato’ Seri Tengku Adnan Tengku Mansor, Minister of Federal Territories together with Yang Berbahagia, Hj. Mohd Najib Nordin B. Hj. Mohd., Executive Director (Planning) Kuala Lumpur City Hall accompanied by M101 Entity Sdn. Bhd. (M101) founder Yang Berbahagia Dato’ Seth Yap Ting Hau today officiated the ground breaking ceremony of M101 SkyWheel, a two tower state-of-the-art development with the highest Ferris-wheel in South East Asia designed by Studio F. A. Porsche.

The attendance of Yang Berhormat Dato’ Seri Tengku Adnan Tengku Mansor, Minister of Federal Territories together with Yang Berbahagia, Hj. Mohd Najib Nordin B. Hj. Mohd., Executive Director (Planning) Kuala Lumpur City Hall at the ceremony further illustrations a vote of confidence to the success of this iconic project.

The project which will include construction of a Ferris-wheel positioned on the 52nd floor and at its highest vantage point, will provide a view from 220m above ground is a remarkable landmark skyscraper that will further place Malaysia on the map as a top spot region for property and development after the Petronas Twin Towers. M101 SkyWheel will also feature the world’s highest shopping experience with a SkyMall that extends from 48^th to 52^nd level with over 200,000 sqft of retail space, will offer locals and tourists diverse product offerings and world-class shopping experiences.

The ground breaking ceremony marks the beginning of a transformation for the Kampung Bharu neighbourhood that will lead to a major economic boost. M101 SkyWheel will not only help revitalize the surrounding community but will provide great amenities as well as give the oldest residential area in Kuala Lumpur a major facelift.

“With its own magnitude and unique design, M101 SkyWheel has brought back excitement to the local real estate scene. The iconic building will certainly raise the standards of commercial and retail development within Klang Valley. M101 SkyWheel plays a major role in boosting our nation’s economic growth in the property market sector and not to mention, the tourism sector as well,” said Yang Berhormat Dato’ Seri Tengku Adnan Tengku Mansor, Minister of Federal Territories.

Yang Berhormat Dato’ Seri Tengku Adnan Tengku Mansor congratulated M101 Entity Sdn. Bhd. (M101) founder Yang Berbahagia Dato’ Seth Yap Ting Hau and further commented, “There is more to Kampung Bharu than meets the eye. The M101 SkyWheel project will be a game changer in recent development plans of Kampung Bharu. It will be the icon that the nation remembers when they think of the new image of Kampung Bharu.”

 

Aside to the entity that is the M101 SkyWheel, Kampung Bharu will be fitted with new highways, an MRT station (Kampung Bharu North Station) making it Kuala Lumpur’s second new City Centre.

During his welcoming speech, Dato’ Seth Yap Ting Hau commented, “Property tourism is a concept coined by M101 Entity Sdn. Bhd. (M101), whereby we take it upon ourselves coming from the private sector to promote Malaysia’s property locally and abroad while enhancing Malaysia as a tourism destination. The company’s mission is to build ten buildings in the heart of ten different strategic locations around the Klang Valley region with a total gross development value (GDV) of RM 4 billion, to promote property tourism in the country. This is part and parcel of our goal to support the government’s tourism goal to increase the local economy and tourist arrivals.”

Expressing his sincere gratitude and appreciation towards Guests of Honour, Dato Seth’ Yap said, “This sets another hallmark and joyous occasion for the company. In 2013, the M101 brand successfully launched a RM10 million initiative in property tourism together with Ministry of Tourism and Culture Malaysia. By further supporting the government in maintaining to promote “property” tourism we see a big opportunity to bring in foreign direct investment that would benefit not only the economy but also the retail industry. We hope to take advantage of opportunities seen in small underdeveloped lands in the city centre. With this we also hope to encourage both local and foreign investors to take interest in Malaysia’s property.”

Elaborating on M101 SkyWheel, Dato’ Seth Yap said, “M101 SkyWheel is a true icon rising making it an engineering masterpiece, with a ‘all-in-one’ integrated commercial and retail development which will herald a new era to the very historic Kampung Bharu. We want to take inspiration from the past, to demonstrate the foundations of identity, and gain confidence towards taking the next step forward.”

Dato’ Seth Yap who is now taking full ownership of the company since a recent corporate exercise also expressed his gratefulness towards stakeholders, investors, purchasers and financing banks who have stepped up to expand their levels of support to make this dream come true, after the departure of former Executive Director, Datuk Chua Eng Pu who went on to pursue his own interest.

M101 SkyWheel will also encompass the famous Planet Hollywood Hotel, impressive retail space and Culinary Heaven with lifestyle amenities as well as an award winning architecture by Veritas Architects Design Group. More than 1,000 potential buyers have registered and showed interest to the M101 SkyWheel since the project was previewed early this year.

M101 Entity Sdn. Bhd. (M101), Meridian 101 degree named after Malaysia’s coordinates in 2012 is known as a boutique property developer and the M101 brand has already launched two projects, namely M101 Dang Wangi and M101 Bukit Bintang, which will be completed by June 2017. M101 SkyWheel is the flagship project under the M101 brand, making it the third and largest project grossing RM1.4Billion in Gross Development Value. The company also has plans to expand into Langkawi as well as abroad such as Karimun, Bintan and Bandung, Indonesia.