Malaysian promoter eyes Tamil Nadu for investments in KL realty

Dato Seth Yap, CEO, M101, said, “Historically there have been very close ties between Tamil Nadu and Malaysia. It is a fact that many of the big plantations in Malaysia are owned or controlled by the Chettiar community who have set up huge businesses in both countries. M101 Skywheel is an icon - with an allin-one integrated commercial and retail development. In Phase 1, 80 pc out of 1,000 units from Skywheel’s project has been sold out, where the purchase agreement is valued over RM 400 million.” 

In line with the launch, M101 signed an MOU for an RM 80 million en bloc sale for Skywheel. The MOU was signed with two channel partners in India – REMAX India and Connection Point. Harinder Singh, Director of REMAX India and Yasser Rahman, Director of Connection Point were present at the signing. Rahman said, “The excitement around the project has been phenomenal in Chennai, and other cities like Coimbatore and Madurai. Most people from Tamil Nadu have travelled to Kuala Lumpur on either work or holiday, and are aware about the location of the project.” 

Senator Dato’ Sri Khairudin Bin E S Abd Samad and Razali Abdul Rahman, Vice Consul, Consulate General of Malaysia in Chennai were present at the launch. 

“Upon completion, M101 Skywheel will be an international tourist destination. M101 is championing ‘Property Tourism’ as our core business strategy. Instead of building just another integrated development, we are building a branded development that fits the market’s needs, and will further elevate the country’s tourism industry,” he added. 

YB Dato’ Seri Mohamed Nazri bin Abdul Aziz, Minister of Tourism and Culture Malaysia said “This project is supported by the Malaysian government. 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 stimulates the property market, but also adds value to the local economy.”