Press Release: RUNNYMEDE GROUP SIGNS MOU WITH RITZ-CARLTON FOR SEAFRONT HOTEL IN UNESCO PENANG, MALAYSIA
Niche property developer Runnymede Group of Companies (Runnymede Group) has signed a landmark MOU with Ritz-Carlton, the famed luxury and lifestyle hotel and resort brand, for the management of a luxury hotel and residency units within the Runnymede Place development in Penang, Malaysia.
This nearly five-acre seafront development is located along the vibrant and historic Jalan Sultan Ahmad Shah (aka Northam Road) nestled along Penang’s famous Millionaire’s Row. It is adjacent to the Citibank Building and is just a block away from the E&O Hotel in the prime business district of Georgetown.
Scheduled to open in 2026, the luxury seafront hotel will feature 133 rooms within a 48-storey tower and 18 suites for the historical 3-storey Runnymede heritage hotel building. There will also be a mixed development tower comprising luxury condominiums, an office block and retail units located next to the hotel.
Runnymede Place, with its landmark waterfront development designed by Kerry Hill Architects of Australia, is set to become an iconic landmark in Penang. The late famed architect, Kerry Hill, was personally involved with the planning and design of the entire development. Hill’s enduring architectural legacy is spread throughout Asia, Australia, Europe and China. Among Hill’s accomplishments are the Aga Khan award for the Datai Langkawi Hotel and other awards for luxury resort hotels such as the brand Aman in New Delhi, Tokyo and Shanghai, plus the Lalu Sun Moon Lake in Taiwan and the Desert Palm in Dubai. He was awarded the “Australian Institute of Architects’ Gold Medal” in 2006 and also won the “Best Housing Design” award at the World Architecture Festival in 2012 for Martin No.38, a residential project in Singapore.
Established in 1994, Runnymede Group is well-known for its diverse development portfolio in Penang, Kuala Lumpur and Western Australia. The company’s impressive track record coupled with its financial strength and management expertise has allowed it to become a key player in the highly competitive property development industry.
Runnymede Group has successfully completed several notable developments in Penang, including the KWSP building situated on a two-acre parcel next to Runnymede Place; a military complex; and luxury bungalows as well as courtyard homes as part of The Sanctuary development. o It has also developed a retail centre in Kota Damansara leased on a long-term basis to GCH Retail Sdn Bhd, a subsidiary of the Dairy Farm Group-UK, which is listed on both the Hong Kong Stock Exchange and the Stock Exchange of Singapore.
The group’s ongoing projects include The Sanctuary’s Triuni Residences condominiums; a mixed development with service apartments in Ampang; Rossmoyne Residences private villas along the Canning River and the Margaret River Resort – both in Western Australia.
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