KUALA LUMPUR: Niche property developer KL Metro Group (KLMG) sees sustained potential for high-end developments due to their limited supply in the market.
Managing director Datuk Low Tak Fatt said the company specialises in high-end development, focusing on the top tier of the market.
“We recognise that many commercial projects are available, such as serviced apartments, luxury condominiums and upscale hotel rooms. However, most of these projects do not meet the standards of a five-star hotel.
“Many of these projects may be rated three-star or four-star. By focusing on five-star properties, we tap into a market with limited supply. Most competitors concentrate on three-star and four-star offerings, so the demand for five-star accommodations is strong while the supply remains scarce. This is the core of our strategy – to specialise in five-star, high-end developments,” Low told SunBiz.
KLMG recently held the groundbreaking for the five-star Lexis Hibiscus 2 resort in Port Dickson, Negeri Sembilan, which is slated to be completed by 2029.
The project, which spans 32.37 hectares and has a gross development value (GDV) of RM1.6 billion, is a partnership between KLMG and Menteri Besar Negeri Sembilan Incorporated.
Managed by Lexis Hotel Group (LHG), Lexis Hibiscus 2 will consist of 1,710 units, including 910 water homes and 800 sky pool suites in two high-rise blocks.
LHG also oversees KLMG’s other properties in Port Dickson, including Lexis Hibiscus Port Dickson with 639 pool villas, Grand Lexis Port Dickson with 323 pool villas, Lexis Port Dickson with 392 villas, and Lexis Suites Penang with 222 pool villas
Low said KLMG is working closely with the government to promote tourism in Port Dickson for discerning leisure and business travellers from FITs (free independent tourists), tour series, corporate and MICE (meetings, incentives, conferences and exhibitions) segments, both locally and abroad.
“We pay a lot of attention to Lexis Hibiscus 1 and Lexis Hibiscus 2 due to the high demand for this type of accommodation. Their unique feature – being open to the sea – makes them highly attractive and contributes to their strong market appeal. These factors make our projects particularly desirable and sellable,” he said.
When asked to comment on what the government should consider in the upcoming Budget 2025, especially in the tourism-related sector, Low hopes the government will increase efforts to promote Malaysia in countries with significant tourist potential and convenient travel.
“Focusing on the Asia-Pacific region may be more effective than targeting Europe. This is due to the long flights that make travelling from Europe to Malaysia, which involves long transit times, can take up to 20 hours depending on where they are flying from.
“We see strong demand from countries like China and India, the Gulf region and other Asia-Pacific nations, and it would be more practical for the government to focus on these regions. Targeting countries where foreign tourists can travel to Malaysia more easily and conveniently would be more effective than promoting in Europe, where travel logistics can be more challenging,” Low said.
Source: The Sun Daily
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