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ALMT goes to Malaysia for $350m hotels project

ALMT Legal in Bangalore and Malaysian law firm Zuraidah Naziha & Fadly advised Indian developer Davanam Constructions and Ascenteus Holdings of Malaysia in their $350m joint venture hotel project.

ALMT Legal partner S R Arun led the team with associates Pradnya Gadre and Manjunath Ambale for co-developers Davanam Constructions Group in building a country club in Bandar Enstek near to Kuala Lumpur International Airport (KLIA).

Zuraidah Naziha & Fadly partner Mohamed Fadly Dato' Zakariya advised Ascenteus Holdings.

Arun said: "We anticipate more transactions and clients in the sector in the immediate future as this deal gains visibility and attention in the industry."   

The project is a foreign direct investment (FDI) between co-developers Davanam Constructions Group and Ascenteus Holdings that hopes to raise capital through private equity and debt.   

GHM Hotels which operates the Chedi and Datai in Asia and North America has been appointed to manage the project, which is scheduled to open in June 2013. The company was advised by Straits Law Practice in Singapore led by director Valerie Ang.

ALMT Legal has earlier advised several other hospitality clients including Royal Orchid Hotels, Pride Hotels, Windflower Spa, Amethyst Hospitality and Aman (Ista) Hotels.
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