Boutique property developer M101 Entity Sdn Bhd broke ground on its latest flagship mixed-use development, M101 SkyWheel, on 8 September 2016. The RM1.4 billion GDV project consists of two 78-storey towers and is located in in Kampung Bharu, Kuala Lumpur. It will contain an MRT station at its basement, SkyMall with 200,000 sq ft of retail space on the 48th to 52nd levels, Planet Hollywood Hotel, Culinary Heaven and Ferris wheel on the 52nd floor. The Ferris wheel, designed Studio F. A. Porsche, at its highest point is some 200m above ground level, making it the highest Ferris wheel in Southeast Asia.
Speaking at the ground-breaking ceremony, M101 Entity founder Dato’ Seth Yap Ting Hau said, “The company’s mission is to build 10 buildings in the heart of 10 different strategic locations around the Klang Valley region, with a total GDV of RM 4 billion, to promote property tourism in the country.”
The ceremony was officiated by Federal Territories Minister Dato’ Seri Tengku Adnan Tengku Mansor and Kuala Lumpur City Hall Executive Director (Planning) Datuk Mohd Najib Nordin Mohd.
Commenting on the project, Dato’ Seri Tengku Adnan said, “The M101 SkyWheel project will be a game changer in recent development plans of Kampung Bharu.”
With plans to tap into Langkawi, Malaysia, as well as Karimun, Bintan and Bandung, all located in Indonesia, M101 Entity’s two other ongoing projects, M101 Dang Wangi and M101 Bukit Bintang, are scheduled to be completed by June 2017.
Meanwhile, Dato’ Seth Yap has taking full ownership of the company after a recent corporate exercise, following the departure of former executive director Datuk Chua Eng Pu.