Friday, September 14, 2012

Legoland Malaysia to be best integrated resort for families


   
With the addition of a water theme park and hotel, Legoland Malaysia is poised to become the best fully-integrated resort for families in Asia.
"The Legoland theme park as well as the Legoland water theme park for families with children is something that doesn't exist before in the region and it will be a great addition," said Siegfried Boerst, General Manager at Legoland.
He added, "together with the hotel, we will have a full theme resort here for families to stay on a short break or vacation."
The RM720 million Legoland Malaysia theme park located in Nusajaya within Iskandar Malaysia and Johor administrative centre is slated to open this Saturday. Built from around 30 million Lego bricks, the 31ha park features 40 rides, displays and shows.
Boerst said the company expects a large turnout during the opening of the theme park.
"We have sold several thousand tickets in advance, not all are dated, so we don't really know how many people are coming on the first day, but we have sold a lot of annual passes, tickets that can be used within the six months and three months, so we expect a large turnout on the first day," he revealed.
Meanwhile, the construction of the water theme park has commenced and is expected to be completed in Q2 2013, while the Legoland Hotel adjacent the theme park is scheduled to open in early 2014.

Thursday, September 13, 2012

Legoland Malaysia set for opening this weekend



 
The much-awaited RM750 million Legoland Malaysia (pictured) is now undergoing final touches before its grand opening on Saturday, 15 September.
The 31-ha theme park boasts about 15,000 Lego models built from 40 million Lego bricks, as well as 40 different rides and a unique "Miniland" featuring replica models of several Southeast Asian landmarks including the Merlion, the Singapore Flyer and Petronas Twin Towers.
"Legoland Malaysia is an extremely unique theme park in this market," said John Ussher, General Manager of Legoland Development.
"We are geared towards families with young children aged two to 12. Lego is a huge brand throughout the world and here at Legoland - which is the clubhouse of Lego - you can do everything you've ever imagined with a Lego brick," he added.
As one of the crown jewels of Iskandar Malaysia, Legoland is expected to attract millions of local and international tourists.
According to Siegfried Boerst, General Manager of Legoland Malaysia, the park will provide "a good experience at a first-class theme park" that will make visitors come back or visit other attractions elsewhere.
The park will be the sixth attraction of its kind globally after those in the UK, California, Florida (USA) and Denmark - the birthplace of Lego.
Going forward, two more Asian Legolands are set to open in Nagoya, Japan and Chuncheon, South Korea by 2015.

Monday, September 10, 2012

M'sian consortium officially acquires Battersea site for RM1.99b



The Employees Provident Fund (EPF), Sime Darby Bhd and SP Setia Bhd have officially acquired the 39.5-acre Battersea Power Station site for £400 million (RM1.99 billion) with a bridging loan from CIMB worth £300 million (RM1.49 billion), according to Tan Sri Liew Kee Sin, Chief Executive Officer of SP Setia.
The £100 million (RM495.53 billion) balance was paid as per the equity stake of the three entities with Sime Darby and SP Setia paying 40 percent each while EPF paid the remaining 20 percent.
With a gross development value (GDV) of £8 billion (RM39.8 billion), Battersea Power Station will be the first and biggest property development for SP Setia and Sime Darby in Britain.
Liew said that "although the consortium may not have the experience in this side of the world, we have the British technical team to see to it while we provide the concept and the funding."
Battersea Power Station Development Co Ltd, a newly-minted British company, has been formed with the logo of the Battersea Power Station. Robert Tincknell, Chief Executive Officer of Battersea Power Station Development Co Ltd, will manage the project.
"Now that the project is fully paid, the next step is to work out the financing structure, whether it will be in Sterling pounds, whether it will be issuing of sukuk and seeking the best rates among banks," added Liew.
The master plan for the site features 3,400 new homes, 56,000 sq m of retail spaces, 160,000 sq m of new office space and nine hectares of public parks and spaces.
The units are set to be launched in 2013, with construction slated to begin in April.

Tuesday, September 4, 2012

1Tebrau to boost Johor Bahru's property market


The 1Tebrau project, an integrated development comprising designer suites and shop offices by Distinctive Properties Sdn Bhd, is expected to rejuvenate Johor Bahru's Jalan Tebrau once it is completed in 2015.
With a gross development value (GDV) of RM330 million, the project will offer 588 units of designer suites and 36 units of four-storey shop offices that will likely lure Malaysians and foreigners, particularly Singaporeans.
"Since our soft launch in June, we have reached 100 percent sales take-up for our
Type A designer suites and over 80 percent sales take-up for our dual-frontage shop offices in Block A," said Datuk David Koh, Executive Chairman at Distinctive Properties.
"The remaining units of Type B and C designer suites and shop offices continue to register strong interests from both locals as well as foreigners."
1Tebrau's Block A comprises 12 units of four-storey shop offices priced from RM1.9 million to RM5 million, while Block B consists of 588 units of 31-storey designer suites priced from RM343,000 onwards. The entire development also has 1,276 units of car parks.
After conducting a market research and feasibility study, the developer is confident with its venture in Johor Bahru, believing that it is one of the five key flagship zones in Iskandar Malaysia.
"As the first modern, lifestyle, mixed development along Jalan Tebrau thus far, 1Tebrau is definitely in line with the government's initiative to transform and rejuvenate Johor Baru under its Tenth Malaysia Plan," said V. Sivadas, Executive Director at PA International Property Consultants Sdn Bhd.

Saturday, September 1, 2012

Investments in Iskandar to exceed RM100b by year-end



The Iskandar Regional Development Authority (IRDA) is optimistic that it can surpass the RM100 billion cumulative committed investments by year-end, according to a report by The Star.

Datuk Ismail Ibrahim, Chief Executive Officer of IRDA, said exceeding the RM100 billion mark would be a major achievement and will prove to sceptics that Iskandar Malaysia is indeed flourishing.

He noted that the region was able to withstand the challenges amid the global economic uncertainties and is expected to emerge stronger than before.

“Like in the stock market, it (the RM100 billion mark) is the psychological breakthrough and a defining moment for all of us in Iskandar Malaysia,” he explained, adding that IRDA will hold an event later this year to celebrate this milestone.

The event will be graced by Johor Mentri Besar Datuk Abdul Ghani Othman and IRDA Co-chairman Prime Minister Datuk Seri Najib Tun Razak.

He urged stakeholders to work even harder so that Iskandar Malaysia can attain the RM383 billion investment target outlined in the Comprehensive Development Plan.

He also revealed that Iskandar Malaysia has obtained RM95.45 billion of cumulative committed investments across various industries from 2006 to Q2 2012. Out of this figure, 43 percent or RM41.35 billion has already been realised.

“We are confident of attracting another RM4.55 billion in new investments from now until end of the year and these are coming from the manufacturing and the service sectors,” added Ismail.