Developing a ‘class of eminence’
Sherilyn Pang | 09 Aug 2019 00:30
In 2017, the Trump International Hotel and Tower in downtown Vancouver, Canada, opened its doors to a highly-anticipated media event. The launch attracted extensive media publicity including nationally televised live coverage. It was to become one of the world’s most luxurious hotel properties last year, according to Forbes Magazine.
Then, it was the first luxury hotel to open in Vancouver in over six years postrecession. What’s more, the C$360 mil (RM1.1 bil) mixed-use property was launched at a time when Canada’s economy was undergoing a credit crunch. House prices in Canada were tumbling amidst poor property sales. Despite the soft market, the 63-storey tower managed to sell at a record $1,600 per square foot (psf), at a time when real estate in Canada was finding it tough to sell at $1,200 psf.
Perhaps the success of Trump International Tower has inspired TA Global Bhd (TAG) CEO Tiah Joo Kim to attempt a similar strategy back home. It is interesting that 39-year-old Joo Kim, who is the eldest son of TA Enterprise Bhd chairman Datuk Tony Tiah Thee Kian, was also advising the Trump International Tower’s interior decor team.
Download and read more in the latest issue of Focus Malaysia here: