Thomas Klaas
Kuala Lumpur (MYS)
Role(s):
Founder/Owner/Principal
Lifestyle Residences Sdn Bhd
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Startup
Location:
Kuala Lumpur
Industry:
Hospitality
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
To develop a retirement resort in Malacca, Malaysia for people from UK, Europe, Japan, Korea and other countries for short- to medium-term stays (1-6 months) with multiple activities incl free golf offered to create meaningful time away from home, also including option for affordable high-quality medical treatment and care in nearby high-end medical centers. The location is a 20 acre (8 ha) seafront site 7km from the historical town centre of Malacca. The plan is to build, sell and lease back the 133 residential units and operate the resort via a contracted global hopsitality player at 5-star level. Owners receive 45% revenue as their ROI.
We look for a funder to put in USD 6-7 million to finance land and pre-construction cost. Construction is financed via the sell and build model which is usual practice in Malaysia and Singapore. The residential units shall be sold to investors on a global level by DTZ Singapore. The funder shall receive back their funds within 2 years with 8% p.a. interest added and shall receive a 60% equity share in the development+operations business.