DAILY EXPRESS
Published on March 9, 2012
KUALA LUMPUR: Sabah-based Jewel of Mabul Develppment Sdn Bhd will invest RM200 million to build the state's first high-value, up-market overwater resort in Mabul island, a 15 minutes boat ride from Semporna.
Construction of the resort began in the last quarter of last year and is expected to be completed in the first quarter of 2014.
Alorie Lepa Lepa Resort, sprawled over 32.37 hectares, wil boast of 88 pool villas, with a minimum price tag of RM3.1 million.
Jewel of Mabul managing diretor Louise Lang said a buyer would receive seven percent return on investment per annum for the first five years and from the sixth year onwards, the returns were expected to be higher.
Speaking at a press conference here Thursday, she said construction was still in the piling stage and would take 20 months to complete and another three months for fit out. The resort, managed by Alorie Hospitality Sdn Bhd, wpuld include an underwater restaurant, a spa, scuba diving centre and a marine conservation centre.
Meanwhile, Alorie Hospitality chief executive officer Jean Marc Lafosse said the resort, to be managed by 250 local employees, would appeal to the wealthy and diving buffs.
On the company's other developments, he said its current hotel portfolio included three other developments in Sabah- Alorie Odyssey Sikuati on Kudat Beach, Alorie Odyssey Turtle Cove in Kimanis Bay and the Asannang resort in Semporna.
" We are also developing a 48-room Cosmo boutique hotel in Jalan Maharajalela and a 100-room Cosmo in Bangsar, Kuala Lumpur, as well as our first Cocoon Aesthetic and Wellness Resort, Batu Gaah Perak.
"Internationally, we are on the mudst of signing an 18-deluxe pool villa project in Seminyak and a 34-room project in Pasut Beach, both in Bali," he said.
Lafosse also said the company was pursuing potential developments in Penang, Langkawi, Kuantan, Hanoi, Hoi An and Bhuttan, all of which were expected to come on-stream in two to three years.- Bernama.
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