KUALA LUMPUR: Ideal Property Group and Marriott International Inc will open the second 'Marriott'-branded hotel and residence in Penang by 2029.
Named Penang Marriott Hotel Queens Waterfront and Marriott Residences Queens Waterfront, the property in Bayan Lepas is part of Phase 4 of the Queens Waterfront master plan.
According to Ideal Property Group chairman Tan Sri Alex Ooi Kee Liang, this landmark development will enhance Penang's reputation as a premier destination.
The 28-storey hotel will feature 262 rooms with top-tier amenities, while the 19-storey branded residences will offer 228 residential units with exclusive facilities and premium amenities.
According to Bernama, Ooi said during the signing ceremony here today that both the hotel and branded residences will offer a serene living experience and prime seafront views with the Penang Bridge and Penang Second Bridge as backdrops.
The agreements were signed by Ooi and Ideal Property Group executive director Puan Sri Joanne Phor Li Wei, while Marriott International was represented by its Hotel Development, Asia Pacific excluding China (APEC) senior director Andree Susilo and Mixed-Use Development, Asia Pacific excluding China, vice president Penny Trinh.
Chief Minister Chow Kon Yeow, who witnessed the signing ceremony, remarked that the project represents a significant investment in Penang and aligns with the state government's vision for holistic and inclusive growth.
Chow noted that tourism in Penang is expected to see a boost, with the 'Marriott' brand attracting high-spending tourists to the state, contributing roughly RM33.5 million annually to the state's economy.
The first 'Marriott' brand, Penang Marriott Hotel, opened its doors on the island in April, while Penang Marriott Executive Apartments is slated to open later this year.