News: M101 Closed A Deal Of RM88 Million Group Purchase With ANB Group For Monopoly Mansion By Sirocco

Apr 12, 2018

M101 Holdings Sdn Bhd (M101) held a group purchase signing agreement worth RM88 million with ANB Group for M101 Bukit Bintang – which will house the world’s first Monopoly hotel, Monopoly Mansion by Sirocco. With built-ups up to 872sqft, the units are priced at RM1,800 psf.

Dato’ Seth Yap, Chief Executive Officer of M101 said, “We are very pleased that in less than a month since we have licensed Monopoly from Hasbro, we have sold more than 80 units internationally. This is a testament of the market’s confidence in our brands: in both M101 and also Hasbro. We have also received a significant interest from Hong Kong through another partner agency, Metrohomes. Overall, we are only opening 100 units for sale. Due to overwhelming interest, we are reserving 10 units for the local market so that Malaysians also have an opportunity to be part of the World’s first Monopoly-themed hotel.”

“I would like to take this opportunity to thank all our partner agencies for their confidence in us. The group purchase today was the fruitful efforts of ANB Group, who also recently signed an en bloc purchase of RM100million for M101 Skywheel.” Dato’ Seth added.

Situated at Bukit Bintang, Monopoly Mansion by Sirocco, Kuala Lumpur will feature 255 rooms. The overall look and feel of the hotel will resonate of the distinctive character of Mr. Monopoly’s energetic, charming, experienced and successful lifestyle with class in a 1920s Gatsby feel – harkening back to Monopoly’s origins. The hotel will also boast thematic facilities, bar and restaurant.

Present at the signing ceremony event together with Dato’ Seth Yap were Dato’ Jay Teoh and Dato’ Amin bin Mohd Rafie, CEO and Chairman of ANB Group respectively, to officiate the exclusive commemoration.

“We are very pleased to be given the opportunity to work with M101. ANB Group truly believes in the potential of M101’s projects, at such, we had the confidence to secure a group purchase option with the developer. This allowed us to offered special discount to our purchasers which encouraged them to make payment of more than 80% upon signing the sales and purchase agreement,” said Dato’ Jay Teoh, CEO of ANB Group.

M101 signed the licensing agreement with Hasbro earlier in March 2018. The hotel is scheduled to open in 2019. Upon completion, the Monopoly Mansion will be managed and operated by Sirocco. Sirocco brings a wealth of expertise and is currently managing M101’s first hotel, RED by Sirocco, Kuala Lumpur. Sirocco will also be managing the first in Asia Planet Hollywood Suites upon the completion of M101 Skywheel, the Company’s third development. In line with its property tourism strategy, M101 aims to grow Sirocco into the next phase by expanding its regional presence in Bintan and Bali.

“In its 80-year history, Monopoly has been played by more than one billion people in 114 countries around the world,” said Jonathan Berkowitz, SVP Hasbro Gaming. “Drawing upon this widespread popularity, we have delivered Monopoly experiences to fit every lifestyle including promotions, digital gaming, fashion and now a 5-star boutique hotel. We are proud to work with M101 to open the Monopoly Mansion by Sirocco in Kuala Lumpur and we are excited for Monopoly fans in Malaysia and all over the world to experience the brand in a new way.”

Dato’ Seth Yap, CEO of M101 said, “It was only natural for us to choose Monopoly to be the theme of our hotel at M101 Bukit Bintang. Over the years, there were many versions of the game and it has been played on various platforms to keep it current. The Bukit Bintang area has long since been Kuala Lumpur’s most prominent retail and entertainment belt. Very much like Monopoly, the area has gone through various transformations to keep the attractions current. And like Mr. Monopoly, Bukit Bintang never fails to remain charming and energetic.”

M101 is one of the most dynamic development companies established to build and invest in sustainable projects in the heart of Kuala Lumpur. With the tagline; Built To Stay, the Company promises to provide enduring values to the properties built.

The name M101 was inspired by the location of Kuala Lumpur, the capital of Malaysia which is located along the longitude of 101 degrees, east of the prime meridian. M101 believes in the long term potential of this thriving city and is committed to play an active role as a private sector towards driving Malaysia to achieve Vision 2020. The Company aims to elevate the Malaysia property scene to the next level by building new iconic landmarks in the heart of Kuala Lumpur that will redefine the tourism industry.

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Shaiful Safar
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True Vest Property Consultants Sdn. Bhd.
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