Latest news with #JosephLau
New Straits Times
7 days ago
- Business
- New Straits Times
Perdana ParkCity defends tower near school, says all approvals secured
KUALA LUMPUR: Perdana ParkCity Group, the developer of the 46-storey ParkCity Tower in Desa ParkCity, has defended the project amid growing public opposition, stating that it has secured all required regulatory approvals and permits for both the project's approval and current construction phase. In a statement to Business Times, the company acknowledged concerns raised by some parents of students at the neighbouring private The International School @ ParkCity (ISP) but stressed that the project is fully compliant with existing laws. "We refer to recent online media articles concerning the ParkCity Tower development in Desa ParkCity. We note that some parents from The International School @ ParkCity (ISP) have raised concerns regarding the project. "ParkCity remains fully committed to carrying out this project responsibly and with minimal disruption to the school and the community at large," the company said. The project, situated close to the ISP primary campus, is scheduled to begin construction this year with completion targeted for 2029. However, a growing number of parents are pushing back. A parent-led coalition, Parents For Safer Schools, is voicing strong objections, claiming the tower is being built just eight metres from the ISP campus. The group has launched a petition — which has garnered over 1,400 signatures — and is considering legal action to halt and reassess the project. The petition outlines concerns regarding student safety, classroom disruption, privacy intrusion, and increased traffic congestion. It also criticises the lack of prior consultation. "While the community recognises the desire for further commercial development, we are shocked at the proposed location because no consultation nor forewarning was provided to the affected parties. It was our impression that the tower would be on the periphery of the township as shown and replicated in the sales showroom. "The location of the high-rise office poses significant risks to the health, safety and security of our children from the start of construction in 2025 until its completion in 2029 and thereafter. Additionally, it threatens to permanently alter our daily lives as residents in Desa ParkCity with an overwhelming increase in traffic and congestion," the petition read. The petition urges Perdana ParkCity — led by CEO Datuk Joseph Lau and chairman Datuk Seri Yaw Chee Siew, both of whom sit on ISP's Board of Governors — to suspend the project and begin transparent discussions with parents, educators, and the community. Among the coalition's key demands are the relocation of the project to a more suitable site and the establishment of a permanent 30-metre green buffer zone between the school and any future developments. One parent, identified only as Lee, told FMT that earlier appeals to the developer were ignored. She claimed that the project had initially been slated for a different site but was quietly shifted to a vacant plot adjacent to the school. Parents were only informed during a meeting in January, prompting immediate concern. In response, ParkCity said it is actively working with ISP to ensure student safety, listing several mitigation measures. These include relocating playgrounds, adding covered walkways and indoor air-conditioned spaces, and creating a dedicated access route for construction vehicles to reduce congestion. "All the above comprehensive pre-emptive measures have been shared with all the parents of ISP students in February and March 2025," the company said. The Desa ParkCity township was launched in 2002 by Perdana ParkCity, a subsidiary of the Sarawak-based Samling Strategic Group. The township was developed on the site of a former quarry, transformed into a 473-acre master-planned community emphasizing sustainability, walkability, and green living.
Bloomberg
23-05-2025
- Business
- Bloomberg
Hong Kong Property Tycoon Fetches $9.3 Million in Wine Auction
Hong Kong businessman Joseph Lau sold a collection of fine wine for HK$72.9 million ($9.3 million) in an auction, fetching more than $41,000 a bottle for some rare French vintages. All of the wine lots sold, and the amount raised exceeded the $4.5 million estimate from Christie's, according to a statement Thursday from the auction house.
Bloomberg
14-05-2025
- Business
- Bloomberg
Hong Kong Tycoon Lau Selling $4.5 Million Wine Collection
Hong Kong billionaire Joseph Lau is selling another wine collection with an estimated value exceeding HK$35 million ($4.5 million) in an auction by Christie's next week. Lau is offering more than 200 lots of fine wine, including rarities from revered producer Henri Jayer, vintages from Petrus and selections from Domaine de la Romanee-Conti, as part of Christie's Hong Kong Luxury Week.
Times
30-04-2025
- Business
- Times
Step inside the ultimate private jets
Private aviation isn't just about dodging the hubbub at airports and zipping across the skies more efficiently — it's also about asserting one's power, prestige and personal flair. The world's most extravagant jets are meticulously crafted to reflect the lavish tastes of billionaires, A-list celebs and heads of state — and bigger is often better: Big 'bizjets' (aviation lingo for business jets) go the distance (London to LA is a doddle) and offer more space to accommodate a larger entourage to indulge every whim as you soar above the cirrostratus. An Airbus Corporate Jets (ACJ) study predicts rising sales of larger private planes as owners upgrade and new models hit the market — 96 per cent of aviation financiers see demand for these aircraft accelerating, with 84 per cent expecting growth through 2027. These celestial behemoths are genetically similar to superyachts, sporting made-to-measure interiors fashioned from hand-stitched leathers, rare woods and (if bling is your thing) 24-carat gold accents. Whether it's a tech mogul's flying boardroom, a Hollywood star's spalike sanctuary or a royal family's airborne château, these jets epitomise what it means to travel in ultimate luxury. The Saudi Prince Alwaleed bin Talal's 'Flying Palace', a modified Airbus A380, is rumoured to have cost £450 million including customisations. It features a Turkish bath, concert hall and a prayer room that always faces Mecca. How this is achieved hasn't been revealed by Airbus, but it's logical to assume that the prayer room rotates on some form of gimbal that can be oriented using data from the aircraft's satellite-based navigation aids. Regardless, the prince apparently sold the jet and the current owner is unknown. Then there's the Hong Kong property tycoon Joseph Lau, whose Boeing 747-8 VIP includes 445 sq m of lounges, a conference room, bedrooms, bar and gym, linked by a spiral staircase. A snip, some say, at £275 million. But how much will your jet cost, and how long will it take to get your hands on it? It's a bit like buying a Hermès Birkin. You need patience and deep pockets. (A typical order-to-delivery timeline for a customised jet is two to three years). Spanking new flagship jets like the Gulfstream G700, Bombardier Global 7500, Dassault Falcon 10X, Boeing BBJ and Airbus ACJ can easily cost in the neighbourhood of £60 to £75 million, plus between £5 million to £50 million for a custom interior (depending on how fancy you want to go). These are very approximate figures as discounts are often negotiated for loyal customers. However, if you don't mind a preowned plane you could snap one up tomorrow via a jet broker (when buying a used bizjet, the previous owner's zebra-skin seat coverings might not be your personal style — but don't worry, there are companies that specialise in unpimping older jets and fitting new interiors). Unlike the Birkin, regardless of whether you buy it new or second-hand, your jet is likely to depreciate (by about 3 to 5 per cent annually). If you're thinking of an aircraft as an investment, you need to look instead at rare 'warbirds' such as Second World War Spitfires or P-51 Mustangs. But back to business jets, and it's the eye-watering running costs that will really clobber your piggy bank. A large VIP jet burns fuel at the rate of £2,500 to £4,000 per hour (depending on speed and altitude). Salaries for crew are about £150,000 a year per pilot — and you'll need two. Then there's the cost for maintenance (budget roughly £1m per year on average), hangarage (£150,000/annually), insurance (£400,000), landing fees (about £2,500 per landing) and parking fees (£700-£1,200 per hour) — and that's before you've stocked the galley with vol-au-vents and Krug Clos d'Ambonnay 1995. If you fancy hobnobbing with the jet-set elite, here are some models to assure poise and a commanding presence on the runway. Lufthansa Technik, in collaboration with Boeing Business Jets (BBJ), offers the CelestialSTAR, an extraordinary VVIP cabin configuration for the BBJ 777-9, the largest private wide-bodied twinjet of its kind, with a cabin spanning over 340 sq m. The concept was unveiled in November 2023 for the Dubai Airshow, the Middle East's biennial aviation 'show-and-tell'. 'In the Middle East we are seeing a younger generation of wealthy individuals who have a much stronger affinity for clearer and less ornamented designs, albeit still using the finest materials and the latest onboard technology,' Fabian Nagel, the vice-president for VIP and special aircraft services at Lufthansa Technik, says. This trend is reflected in the CelestialSTAR, which combines contemporary and minimalist styling with Middle Eastern geometric design patterns, such as window shades in the form of sand dunes. At its heart of the CelestialSTAR jet is the private suite, a cocoon-like sanctuary featuring a king-size bed, an expansive 'Work&Balance' area, and the largest rain and massage shower designed for a private aircraft. The suite also transforms into a fully immersive entertainment centre, using advanced projection technology to create a cinema experience at 40,000ft. For those who favour open-plan design, rotating and sliding lamellae connect the suite to adjacent spaces, maximising the BBJ 777-9's cabin width. Airbus Corporate Jets' contender in the luxury aircraft market is the ACJ TwoTwenty, a customised VIP derivative of the Airbus A220-100 airliner. Dubbed the 'Xtra Large Bizjet', it offers 73 sq m of floor area (twice the cabin space of similarly priced aircraft) divided into six distinct zones, allowing up to 18 passengers to work, dine and relax. The entrance has a VIP lavatory, then there's a separate crew rest area (you may need that for the extra pilots required on long flights), a business lounge, main lounge, private lounge and master bedroom with en suite bathroom and shower. The company offers four baseline colour options of the cabin interior, including a 'special edition' by Cyril Kongo, the French-Vietnamese street artist, celebrated for blending graffiti with luxury and fine art. His collaborations include limited-edition fashion pieces for Chanel and a £1 million custom watch for Richard Mille. Airbus says that the TwoTwenty delivers lower operating costs while providing twice the value retention compared to other long-range jets. It offers the latest innovations, including fly-by-data technology and electrochromatic windows (you press a button and the windows dim), but also includes a king-size bed and what Airbus describes as a 'rain shower'. Passengers can breathe easy thanks to HEPA air filters and a humidification system and the plane has a lower cabin altitude for enhanced wellbeing. Beyond its expansive interior, the jet is built for seamless global travel, with a range of 5,650 nautical miles, and can fly nonstop between Dubai and Tokyo, or Beijing and Sydney. Some celebrities don't just want to own jets, they want to fly them too — John Travolta, Tom Cruise, Harrison Ford, Gisele Bündchen and Bruce Dickinson all enjoy getting to grips with the controls at the sharp end just as much as chilling in the back of the plane. For VIPs in that owner/pilot category, the Dassault Falcon 10X (set to roll out of the hangar in 2027) could be a suitable choice. The Falcon 10X combines luxury travel with Dassault's military jet heritage (the French company makes the Rafale fighter jet). It offers the NeXus flight deck, featuring advanced avionics and controls. The NeXus enhances safety and efficiency, and includes a feature called Smart Throttle that automates engine management to allow pilots to focus on flight strategy. The dual head-up display system (another military innovation) enables pilots to read the controls while looking straight out of the window. Aft of the flight deck, the cabin transforms into a luxurious living space, with customisable features including a queen-size bed, dining cabin and spa-style shower. High-end materials, such as ethically sourced leathers and bespoke wood veneers, complete the plush interior. The Dassault Falcon 10X can reach Mach 0.925 and fly nonstop for over 15 hours. And if you're wondering what Mach speed is, well, it's complicated: it's the aeronautical way of quantifying the speed of an aircraft. Mach 0.925 is 92.5 per cent of the speed of sound, which itself depends on altitude and atmospheric conditions. At cruising altitude (about 35,000ft) the speed of sound is roughly 660 knots (nautical miles per hour) or 760mph. So Mach 0.925 is then about 685mph. The Geneva-based design studio M&R Associates Design has come up with Elysium, a cabin interior concept for the Boeing BBJ MAX 737-8 that redefines what's possible in private aviation. Crafted to enhance luxury, comfort and wellbeing, Elysium transforms the aircraft into a blend of sanctuary, social space and productivity hub. 'From communal spaces that encourage social interaction to private retreats that offer sanctuary in the sky, every aspect of the cabin has been meticulously designed to evoke a sense of tranquillity,' says Vincent Rey, the creative director of M&R Associates Design. Rey says that the aircraft's 'lobby' is a 'welcoming area where families can gather to share convivial moments'. Adjacent to the lobby is a central kitchen bar designed for relaxation. The cabin comes equipped with a large communal table that accommodates six people, providing ample space for meetings and also for dining where guests 'can watch the chef prepare and dress the dinner before savouring refined cuisine'. Further back the cabin unfolds into what the designers call 'a private sanctuary reserved for VVIP or government flights'. This includes a secluded lounge and a luxurious bedroom, complete with queen-size bed, large OLED screen and dedicated workspace. According to Boeing the BBJ 737 MAX-8 has a nonstop range of 6,350 nautical miles and can accommodate at least 19 passengers with multiple lounges and private rooms. Its floor area is 104 sq m and it has an operating cost of about £4,000 per hour. When there's a need for speed, the Gulfstream G700 delivers. The company's flagship jet can fly 7,750 nautical miles at Mach 0.85, or 6,650 at Mach 0.90, and reach a top speed of Mach 0.935 — the fastest in the fleet. It has already set over 65 city-pair speed records, including Los Angeles to Sydney in 14hr 26min, and Paris to Montreal in just over six. Beyond its record-breaking performance, the G700 offers a luxurious cabin with up to five living areas, seating for 19 and sleeping space for 13. Gulfstream's Cabin Experience includes 100 per cent fresh air, low noise levels and 20 panoramic windows (elliptical windows that are three to four times the size of regular jetliner ones). One standout is the 'ultragalley,' with more than 10ft of counter space. So how do they put those natty cabin interiors together? 'Every Gulfstream interior is bespoke, and Gulfstream's design team works hand in hand with customers to understand their requirements and help them realise the vision they have for their aircraft cabin,' the company says. 'Once the floor plan is finalised, the interior design process begins with fabric, leather, veneer, carpet and finishing all customised.' The G700's Symmetry Flight Deck is packed with advanced tech, including active control sidesticks for enhanced pilot feedback and extensive touchscreen controls. Its Predictive Landing Performance System enables early adjustments for smooth, precise landings. Dual head-up displays feature Gulfstream's Combined Vision System, blending Enhanced Flight Vision (infrared imaging for poor visibility) with Synthetic Vision (3D terrain models using GPS data). Together they give pilots a clear, real-time view of the environment, even in fog or darkness, boosting situational awareness and safety.
