KUALA LUMPUR: Playboy property magnate Cecil Chao of Cheuk Nang (Holdings) Ltd — better known for his audacious HK$500 million (RM211.51 million) “prize” that awaits the man who wins his lesbian daughter’s heart — is back in town for business and pleasure. He recently attended the Miss Tourism International pageant in Putrajaya, while attending meetings for a luxury residential project in the heart of the capital.
The project comes eight years after he began his foray into Malaysia’s real estate market with Parkview serviced apartments in Kuala Lumpur, which was developed jointly with Mayland Bhd.
Known unofficially as Cecil Chao Centre, the 1.8 acre (0.728ha) freehold project will now comprise four towers of luxury residences instead of serviced apartments, offices and a hotel as planned previously.
In 2009, Kuala Lumpur City Hall granted development approval for three 50-storey blocks and a 36-storey block of luxury residences with a total of 879 units.
Units in the three 50-storey blocks will range from 600 sq ft to 2,300 sq ft , with preliminary prices at RM1,500 psf.
The first phase, comprising two 50-storey towers, is scheduled to be launched in June, while the third tower will be launched about six months later.
Read the exclusive interview with the flamboyant businessman on life, love, legacy and the prospects for Malaysia’s property market in the Jan 6 issue of City & Country, the property pullout of The Edge Malaysia.
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|Chao was in town for the Miss Tourism International pageant and to attend meetings for his luxury residential project in KL.|
This article first appeared in The Edge Financial Daily, on January 3, 2014.