Sheng Tai International Sdn Bhd has revealed its collaboration with renowned fashion brand KARL LAGERFELD in the unveiling of the KARL LAGERFELD Tower within the RM6.5 billion The Sail development located in Kota Laksamana Melaka. Set to be completed in 2030, the KARL LAGERFELD Tower will feature a combination of hotel and residential units, though specific details are yet to be confirmed as the project is still in the early planning stages.
The partnership between Sheng Tai and KARL LAGERFELD was officially announced during a gala event held at Encore Melaka on Monday (June 12). The event witnessed the presence of Melaka Chief Minister Datuk Seri Ab Rauf Yusoh, KARL LAGERFELD CEO Pier Paolo Righi, and investors of The Sail.
In her opening speech at the gala event, Sheng Tai Chairman and President Datuk Leong Sir Ley highlighted the significance of the partnership for Melaka’s tourism and property industry. She expressed her belief that the collaboration would attract talent, business opportunities, and increase tourism in the state. Leong stated, “All that we are doing now is going to increase the value of properties in Melaka and therefore make Melaka an international city.”
Chief Minister Ab Rauf echoed these sentiments, emphasizing the positive impact of the project on Melaka’s status as a travel and investment destination. He stated that the state government has been actively working towards making Melaka a top destination for both local and foreign travelers, as well as a prime investment location. Ab Rauf expressed the importance of private entities like Sheng Tai and KARL LAGERFELD playing a role in attracting investments to the state.
The Sail is a mixed-use development project consisting of 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.
Furthermore, Datuk Leong Sir Ley, who recently acquired a 23.8% stake in Yong Tai Bhd, emerged as a substantial shareholder of the company. She has been appointed as the Managing Director and CEO of Yong Tai. Leong shared her plans to integrate the 27.5-acre The Sail and the nearby 138-acre development, previously known as Impression City, into a new 165.5-acre township called the City of Hope. The existing opera house, Encore Melaka, is situated within the 138-acre parcel. Leong emphasized that the nine towers would host hotels and an experiential center, while the 138-acre area would house lifestyle and entertainment facilities, attracting a significant number of tourists to Melaka in the future.
The collaboration between Sheng Tai and KARL LAGERFELD holds great potential for Melaka’s tourism and property industry, and is expected to contribute to the growth and development of the historical state.