The MOU signing between Marriott International Hotel Development Asia-Pacific vice president Peter Gassner (left) with Runnymede Group chairman Tan Sri Datuk Mohd Sheriff bin Mohd Kassim (right).
PENANG: Runnymede Group of Companies and Ritz Carlton recently signed a landmark memorandum of understanding (MOU) for the management of a luxury hotel and residency units within the Runnymede Place development, located along the vibrant and historical Jalan Sultan Ahmad Shah, nestled along Penang’s famous Millionaire’s Row.
This five-acre seafront project is adjacent to the Citibank Building and is a block away from the Georgetown’s E&O Hotel. It is set to open in 2026 and will consist of a 18 suite heritage hotel, luxury condominiums, an office block, retail units and a 48-storey luxury hotel tower.
The hotel is expected to be completed by 2026
The seafront development is one of the legacies of the late Kerry Hills, whose architectural works are present throughout Asia, Australia, Europe and China.
Runnymede Group was established in 1994 and is particularly well-known for its diverse development portfolio in Penang, Kuala Lumpur and Western Australia.
Currently the company is also embarking on other ongoing projects such as The Sanctuary’s Triuni Residences condominiums, a mixed development with service apartments in Ampang, Rossmoyne Residences private villas and the Margaret River Resort both situated in Western Australia.
