Berjaya Land Takes Us$330 Mln Loan For Four Seasons Okinawa

KUALA LUMPUR, Oct 31 (Bernama) -- Berjaya Land Bhd has signed a facility agreement with a consortium of Japanese financial institutions for a US$330 million (JPY49.4 billion) syndicated loan.

In a Bursa Malaysia filing today, Berjaya Land said the consortium is led by Tokyo Star Bank Ltd, co-led by Okinawa Development Finance Corporation, and Bank of The Ryukus.

Berjaya Land said the facility is pivotal to fund the development of the Four Seasons Resort & Private Residences in Okinawa, Japan (Four Seasons Okinawa) which will have a gross development value of US$1.12 billion.

Bangkok Bank Japan, The Ogaki Kyoritsu Bank and The Aichi Bank, among other regional banks, were involved in the syndication, the filing said.

“Such collaboration is a testament to their confidence in the Four Seasons Okinawa project and Berjaya Land's vision to create a pre-eminent destination resort in Okinawa,” it said.

Civil works have been completed with the main construction expected to end in 40 months, to be followed by a three-month hotel pre-opening.

Four Seasons Okinawa is targeting a second-quarter 2027 grand opening.

Seikou Okinawa Construction KK, a wholly owned subsidiary of Berjaya Construction Bhd, is spearheading the construction as the main contractor. It will work with Japanese subcontractors.

Berjaya Corporation Bhd founder and adviser Tan Sri Vincent Tan Chee Yioun said the collaboration will set a new standard of excellence in Okinawa’s hospitality and real estate space.

“Given the considerable effort and investment that will go into the design and construction of the Four Seasons Okinawa, and future property projects in the master plan development, I am confident that this mixed development project in Onna Village will have substantial commercial potential and will add significant value to the economic development and growth of Okinawa,” he said.

Meanwhile, Berjaya Land group chief executive officer Syed Ali Shahul Hameed said the company is committed to further enhancing Okinawa's global standing as a top-tier tourism destination.

-- BERNAMA