This article first appeared in The Edge Financial Daily on January 18, 2019 - January 24, 2019

KUALA LUMPUR: Berjaya Land Bhd (BLand) has inked a partnership with Four Seasons Hotels and Resorts to develop its second Four Seasons hotel in Japan — the Four Seasons Resort and Private Residences Okinawa — with a gross development value of US$1 billion (RM4.12 billion).

In a Bursa Malaysia filing yesterday, BLand said its unit Berjaya Okinawa Development Co Ltd inked the deal, which would take four years to complete, with a projected total development cost of US$400 million.

It said the master plan development site is about 100 acres (40.5ha) of beach front land owned by BLand along the western coast of the island, some 50km northeast of Naha International Airport.

The hotel management agreement was signed by Berjaya Corp Bhd chairman Tan Sri Vincent Tan (pic) and Four Seasons Hotels and Resorts senior vice president for development Asia Pacific Christopher Wong.

Tan said the Four Seasons Resort and Private Residences Okinawa was another iconic project in Japan for the Berjaya Group, emulating the success of Four Seasons Hotel and Hotel Residences Kyoto, which was launched in December 2016.

“I am sure that with the prestigious Four Seasons branding and management, along with its strategic location in central Okinawa, the Four Seasons Resort and Private Residences Okinawa will be one of the best on the island of Okinawa,” he said.

Four Seasons Hotels and Resorts executive vice president of global business development Bart Carnahan said the group was proud to continue its successful partnership with Berjaya Group with another project in Japan, extending its presence in the region and offering both guests and residents more chances to experience Four Seasons.