MELAKA (June 13): Sheng Tai International Sdn Bhd has announced its collaboration with KARL LAGERFELD with the unveiling of the KARL LAGERFELD Tower at the RM6.5 billion The Sail development in Kota Laksamana Melaka. The tower is expected to be completed in 2030.

The KARL LAGERFELD Tower will consist of hotel and residential units though further details of the project have yet to be confirmed as it is still in the early stages of planning.

The partnership between Sheng Tai and KARL LAGERFELD was announced at a gala event at Encore Melaka on Monday (June 12). The event was attended by Melaka Chief Minister Datuk Seri Ab Rauf Yusoh, KARL LAGERFELD chief executive officer Pier Paolo Righi and investors of The Sail.

Sheng Tai chairman and president Datuk Leong Sir Ley explained that the partnership will benefit Melaka’s tourism and property industry.

“This [partnership] brings a lot of talents and business opportunities to Melaka for us to learn from international trades and for our locals to grow [as well as] increase tourism in Melaka… all that we are doing now is going to increase the value of properties in Melaka and therefore making Melaka an international city,” said Leong during her opening speech at the gala event.  

Meanwhile, Ab Rauf concurred the project will boost the state into a travel and investment destination, adding that it has been the state government’s intention to achieve that goal through various measures.

“Today, the Melaka state government continues taking various measures to make the state into a top destination for all travellers [be it locals or foreigners], as well [as into] the top investment state…. [These measures] will include history, culture, sport, health, agrotourism and ecotourism. To achieve this we will also require private entities to play their part to attract people to invest in our state,” he said.

“This project is important not only for Sheng Tai International, Yong Tai Bhd or KARL LAGERFELD but also for this historical state. It is [important for] the property and tourism industry as well the community at large.”

The Sail is a mixed-use development project comprising nine towers, including the Wellness Tower, Art and Culture Tower, Artificial Intelligence (AI) Tower and the Fashion Tower where the KARL LAGERFELD Tower will be situated.

Meanwhile, Leong emerged as a substantial shareholder of Yong Tai after acquiring a 23.8% stake on May 10. She was subsequently appointed as the managing director and chief executive officer of Yong Tai.

Leong unveiled her plans to include the 27.5-acre The Sail into Yong Tai’s 138-acre development nearby — previously known as Impression City — into a new 165.5-acre township called the City of Hope. The 138-acre parcel currently has an opera house called Encore Melaka.

“All the hotels and experiential centre will be [located] at the nine towers [while] the lifestyle and entertainment [centre] will be at the 138-acre [parcel] where Encore Melaka [currently] sits, therefore pulling a lot of tourists into Melaka in the future,” said Leong.