MNC Wireless to take up units in Malacca's Marina Point for luxury homestays

PETALING JAYA: M N C Wireless Bhd plans to turn 120 Dual-Key units under Sanichi Technology Bhd's Marina Point service residence and retail mall development in Klebang, Malacca, into luxury homestays.
Dual-key units have two separate entrances leading to two self-contained living spaces.
Sanichi in a statement released today said its wholly-owned subsidiary, Sanichi Property Sdn Bhd (SPSB) and MNC inked a Memorandum of Understanding to provide, online leasing or short-term rental service at SPSB’s development project.
MNC will lease, upgrade, market and operate the units from SPSB, which has a special leaseback agreement with its individual unit purchasers at the point of sales for the next 10 years after the completion of the project.
MNC and SPSB are looking to commence the partnership by second quarter of 2020. Currently, the retail section of Marina Point is 55% completed and residential is 25% completed, and on track to hand over to its unit owners by first quarter of 2020.
Marina Point, a mixed development with a gross development value of RM230m, is less than five minutes drive away from historical Bandar Hilir downtown Malacca, overlooking Straits of Melaka, featuring a sky lounge, 1st mini water themed park, 52m long swimming pool, gymnasium, mini theater and a mall.
MNC’s Executive Director, Christopher Tan Chor How said, “The demand and supply gap of hospitality in Melaka holds golden opportunity and MNC is certain that this alliance will contribute positively to its bottom line, given that online leasing or short-term rental service is the newest in-trend services that is sought after and the potential is huge.”
“This is a rare opportunity and it not easy to find so many units of residential units in a building in Melaka to operate homestays business. Unit owners at Marina Point and MNC would definitely benefit from the operating cost saving from this natural economics of scale at one location.”
Since 2009, Melaka has welcomed 8.91 million tourists and the number has increased to 16.28 million in 2016, which resulted in massive demand for rooms in the state. Statistics in 2016 proved tourists per day could reach as high as 44,500 persons, whereas room supplies are only at 19,000 rooms per day.