S P Setia has announced that it has entered into a partnership with Shangri-La Hotels & Resorts for its twin tower development at 308 Exhibition Street.
In attendance were representatives from both companies including S P Setia Chairman Tan Sri Dato' Seri Dr Wan Mohd Zahid and Shangri-La Asia CEO Mr. LIM Beng Chee in addition to dignitaries from Malaysia and members of the media, including Urban Melbourne.
Located opposite Melbourne’s World Heritage-listed Carlton Gardens, the Cox and Fender Katsalidis-designed dual-tower development will accommodate the luxury five-star Shangri-La Hotel Melbourne featuring an estimated 500 guest rooms with three levels of amenities for guests in one tower and a second tower comprising 300 luxury residential apartments as well as office space.
A sky bridge will connect the two towers, while retail space will occupy the lower levels of the development.
During the function it was also announced that the development had received planning approval only half an hour earlier, paving the way for Melbourne's first Shangri-La hotel with display images suggesting the development will be branded as 'Sapphire by the Gardens.'
Sapphire by the Gardens will officially be launched later this year. The luxury residences will be aimed at owner occupiers, young families, young couples, downsizers and offshore residents that frequent Melbourne.
S P Setia anticipates construction to commence on the whole development by the end of the year following a competitive tender process during August, with an estimated completion date of 2022.
Existing structures on site are currently being demolished.
S P Setia is honoured to appoint Shangri-La, an iconic global brand that represents the highest standards of quality, as the hotel operator to this development. Through the design and construction phases and for many decades to come as a luxury residence, retail and hotel precinct, the economic benefits of this project will be significant for Melbourne and will help grow the hospitality industry locally.
This will be Melbourne's newest icon and will be a welcome addition to Melbourne's cityscape as we continue to embark on our expansion and grow our business here in Australia. We are very excited to be launching very soon!Tan Sri Dato' Seri Dr Wan Mohd Zahid, Chairman, S P Setia
Shangri-La is privileged to be selected as the hotel operator for this world-class S P Setia development, which will be an architectural masterpiece and an iconic part of Melbourne’s skyline for decades to come and a symbol of this exciting partnership. We look forward to bringing Shangri-La’s hallmark ‘hospitality from the heart’ to Melbourne, a key global city and the world's most liveable in addition to Australia's event capital.Mr. LIM Beng Chee, CEO, Shangri-La Asia
We all love Melbourne and we thought it couldn't get any better but this piece of stunning architecture will enrich all of the great assets Melbourne has to offer. The Shangri-La forms the pillar of this iconic development and features what we think will be the best ballroom in the world, hosting events for 1,000 people and boasting an amazing outlook to the historic Carlton Gardens. The design of the project has evolved through a collaborative approach between ourselves, Cox Architects, Urbis and planning authorities; the design responds to authorities' requirements for the site and I'm pleased to announced that we received our planning permit half an hour ago.Karl Fender, Founding Director, Fender Katsalidis