M101 seals RM88m deal with 80 buyers for Monopoly-brand hotel

PETALING JAYA (April 10): M101 Holdings Sdn Bhd has secured a RM88 million group purchase deal through real estate agency ANB Group for the world’s first Monopoly-brand hotel – Monopoly Mansion by Sirocco in Bukit Bintang.

A total of 80 buyers from China, Taiwan, Japan, Korea, Indonesia, Singapore and Hong Kong have inked agreements with M101 today to invest in 80 units of Monopoly Mansion by Sirocco.

The investment in the units of Monopoly Mansion by Sirocco offers the buyers five days’ stay a year and rental yield of around 5% per annum.

The 255-room, boutique 5-star hotel is situated at Jalan Baba in Bukit Bintang, Kuala Lumpur, with built-ups up to 872 sq ft are priced at RM1,800 psf.

M101 Holdings founder and CEO Datuk Seth Yap said more than 80 units of Monopoly Mansion were sold to international buyers within the month M101 obtained the Monopoly hotel licensing from Hasbro.

“We have also received a significant interest from Hong Kong through another partner agency, Metrohomes,” he added.

Yap noted that M101 has released 100 units for sale and the company will reserve 10 units for local buyers who are interested to be part of the world’s first Monopoly-themed hotel.

Besides M101 Bukit Bintang, ANB group had also signed an en-bloc sale of RM100 million for the company’s M101 Skywheel project which is located at Lorong Raja Uda 1, Kuala Lumpur.

To recap, M101 signed the licensing agreement with Hasbro in March to develop the world’s first Monopoly brand hotel which is scheduled to open next year.

Upon completion, the Monopoly Mansion will be managed and operated by M101’s hospitality arm Sirocco Hospitality Group (Sirocco), which will also manage the first Asia Planet Hollywood Suites upon the completion of M101 Skywheel.