Marina Point dual-key units to be used for luxury homestays
PETALING JAYA: MNC Wireless Bhd plans to turn 120 Dual-Key units under Sanichi Technology Bhd’s Marina Point service residence and retail mall development in Klebang, Malacca, into luxury accommodation for homestays.
Dual-key units have two separate entrances leading to two self-contained living spaces.
Sanichi in a statement released yesterday said its wholly owned subsidiary, Sanichi Property Sdn Bhd (SPSB), and MNC inked a memorandum of understanding to provide online leasing or short-term rental service at SPSB’s development project.
MNC will lease, upgrade, market and operate the units from SPSB, which has a special leaseback agreement with its individual unit purchasers at the point of sale for 10 years after the completion of the project.
MNC and SPSB are looking to begin the partnership by the second quarter of 2020. Currently, the retail section of Marina Point is 55% completed and residential 25%, and are on track to hand over to the units to owners by the first quarter of 2020.
Marina Point, a mixed project with a gross development value of RM230 million, is less than five minutes’ drive from historical Bandar Hilir downtown Malacca, overlooking the Straits of Malacca.
MNC executive director Christopher Tan Chor How said, “The demand and supply gap of hospitality in Malacca holds a golden opportunity and MNC is certain that this alliance will contribute positively to its bottom line, given that online leasing or short-term rental service is the newest intrend service that is sought after and the potential is huge.
“This is a rare opportunity and it’s not easy to find so many residential units in a building in Malacca to operate homestays. Unit owners at Marina Point and MNC would definitely benefit from the operating cost saving from the natural economies of scale at one location.”
In 2009, Malacca welcomed 8.91 million tourists and the number rose to 16.28 million in 2016, which resulted in massive demand for rooms. Statistics for 2016 showed tourists a day could reach as high as 44,500, whereas room supplies are only at 19,000 a day.