Duta Grand Hyatt
Encyclopedia
The Duta Grand Hyatt was to be a 52-storey hotel in Kuala Lumpur
, Malaysia initiated during the 1990s. However, the project, which looks to be almost completed, was stalled due to the 1997 Asian Financial Crisis and remains abandoned ever since.
Group awarded a contract to develop the RM570 million Duta Grand Hyatt project to Kuala Lumpur Landmark Sdn Bhd, a subsidiary of Olympia Industries Bhd. The holding company of Olympia, Mycom Bhd, then teamed up with Kuala Lumpur Landmark to develop the hotel, which was also meant to house Mycom's headquarters. The project was targeted for completion in 1997.
However, due to the 1997 Asian Financial Crisis, the Mycom group suffered financial difficulties, which led to the halting of construction in July 1998, and the project remains abandoned till-date.
Currently, Hyatt is no longer associated with the project. Instead, Hyatt is currently developing another hotel, the 40-storey Grand Hyatt, on Jalan Pinang, close to the Kuala Lumpur Convention Centre
.
Kuala Lumpur
Kuala Lumpur is the capital and the second largest city in Malaysia by population. The city proper, making up an area of , has a population of 1.4 million as of 2010. Greater Kuala Lumpur, also known as the Klang Valley, is an urban agglomeration of 7.2 million...
, Malaysia initiated during the 1990s. However, the project, which looks to be almost completed, was stalled due to the 1997 Asian Financial Crisis and remains abandoned ever since.
History
In 1994, the HyattHyatt
Hyatt Hotels Corporation , is an international operator of hotels.Hyatt Center is the headquarters for Hyatt corporation...
Group awarded a contract to develop the RM570 million Duta Grand Hyatt project to Kuala Lumpur Landmark Sdn Bhd, a subsidiary of Olympia Industries Bhd. The holding company of Olympia, Mycom Bhd, then teamed up with Kuala Lumpur Landmark to develop the hotel, which was also meant to house Mycom's headquarters. The project was targeted for completion in 1997.
However, due to the 1997 Asian Financial Crisis, the Mycom group suffered financial difficulties, which led to the halting of construction in July 1998, and the project remains abandoned till-date.
Currently, Hyatt is no longer associated with the project. Instead, Hyatt is currently developing another hotel, the 40-storey Grand Hyatt, on Jalan Pinang, close to the Kuala Lumpur Convention Centre
Kuala Lumpur Convention Centre
The Kuala Lumpur Convention Centre is a convention and exhibition centre in Kuala Lumpur, Malaysia, and part of the Kuala Lumpur City Centre precinct, known as KLCC...
.