Kuala lumpur: Domestic private investments can revitalise idle assets and boost the local economic ecosystem, said Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani. He highlighted the redevelopment of Brisdale International Hotel as an example of a successful domestic investment by a local company, emphasising that it was not just a proposal but a realised project.
According to BERNAMA News Agency, Johari explained that the hotel redevelopment was a private capital investment undertaken by a wholly locally owned company, with all risks and responsibilities borne by the investor. At the launch of Brisdale International Hotel Kuala Lumpur, he stressed the importance of entrepreneurs having the courage and capability to carefully assess risks before implementing a project.
He further mentioned that entrepreneurs must be brave yet calculated in taking risks and adept at evaluating them in any investment field. Redeveloping existing buildings, he noted, is more challenging than constructing new ones on vacant land, as it requires understanding the structural condition and necessary work.
Johari commended the ZIKAY Group for their expertise and experience as a contractor, which assisted them in assessing the costs and requirements for the building's redevelopment. He remarked that the opening of the hotel represents a significant development for the community surrounding Jalan Raja Bot, fostering an economic ecosystem with diverse business activities.
He also highlighted the close link between the hospitality sector and the tourism industry, which contributes approximately RM300 billion or 15 per cent to the national economy and generates around 3.5 million jobs. Johari pointed out that a hotel located in a business district escalates economic activity in the area, allowing the entire ecosystem to grow.
Brisdale International Hotel Kuala Lumpur is developed and managed by the ZIKAY Group through its subsidiary, Brisdale International Sdn Bhd. ZIKAY Group managing director Datuk Mohd Khay Ibrahim revealed that the group invested over RM100 million over a four-year period to acquire and redevelop the building into a modern hotel.
He added that the hotel now offers 300 guest rooms and a range of modern facilities to cater to both domestic and international visitors, employing more than 150 staff members, almost all of whom are locals. Mohd Khay noted that the hotel's operations have an economic impact beyond its premises, benefiting food stalls, traders at the Raja Bot Market, and shops along Jalan Tuanku Abdul Rahman.
He explained that each guest check-in triggers an economic chain, impacting various businesses in the vicinity. This, he said, is the true meaning of economic spillover, directly benefiting the community and small-scale traders. Mohd Khay also mentioned the potential for Raja Bot to develop into a unique heritage and business precinct, given its location in Kampung Baru and connectivity to the public transport network, while retaining its authenticity.