Destination Resorts and Hotels Sdn Bhd (DRH) expects to generate RM5 billion in gross development value (GDV) from the first phase of its Desaru Coast project in Johor which is expected to be completed in 2015, according to The Business Times.
The project stands on a 728.43-ha site and its developer Desaru Development Holdings One Sdn Bhd (DH1) has already completed around ten percent of the development, said Muhd Firdaus Azharuddin, Chief Executive of DH1.
Phase One will feature the Plantation Hotel, Sheraton Resort, Datai Langkawi and the Riverwalk as well as a hospitality, tourism and culinary school. Ocean Splash and Ocean Quest theme parks along with two golf courses and a convention centre will also be part of the phase.
“The resort will set new standards in the industry with the objective to boost tourist arrivals, extend the length of their stay and eventually increase tourist receipts,” said Mohd Nadziruddin Mohd Basri, Managing Director of DRH.
The first phase will be financed partly through the RM600 million obtained from Malayan Banking Bhd and from a seed capital to be injected by Khazanah, said Mohd Nadziruddin.
“On each level of the project, there are joint-venture companies and subsidiaries. There will be bank borrowings as well,” he added.
Saturday, November 10, 2012
An Undersea Tunnel for Malaysia - Singapore Link - IRDA
An undersea tunnel would be the most feasible option for the Rapid Transit System (RTS) between Malaysia and Singapore, according to the Iskandar Regional Development Authority (IRDA).
However, the final decision will still depend on the governments of both countries- whether the RTS will include a bridge or an undersea tunnel across the Johor Straits, said Datuk Ismail Ibrahim, Chief Executive at IRDA, in a report by Bernama.
"From initial indicators, Iskandar Malaysia feels the undersea tunnel is most feasible but it is up to both governments to find the most suitable route."
He explained that if the RTS will be outfitted with an undersea tunnel, other vehicles should also be able to use it and not just the rail transportation.
Moreover, both countries have engaged consultants to conduct feasibility studies for the construction of the RTS, noted Ismail, adding that initial works are progressing efficiently and are expected to be completed next year.
"After that, either in 2014 or the latest by 2015, we will be able to begin construction of the RTS." The RTS will not only connect Johor Bahru and Singapore, it also aims to create a comprehensive transport network for the entire Iskandar region.
Furthermore, the project's cost will be determined when both countries decide on the routes of the transportation system and after the completion of the feasibility studies, added Ismail.
However, the final decision will still depend on the governments of both countries- whether the RTS will include a bridge or an undersea tunnel across the Johor Straits, said Datuk Ismail Ibrahim, Chief Executive at IRDA, in a report by Bernama.
"From initial indicators, Iskandar Malaysia feels the undersea tunnel is most feasible but it is up to both governments to find the most suitable route."
He explained that if the RTS will be outfitted with an undersea tunnel, other vehicles should also be able to use it and not just the rail transportation.
Moreover, both countries have engaged consultants to conduct feasibility studies for the construction of the RTS, noted Ismail, adding that initial works are progressing efficiently and are expected to be completed next year.
"After that, either in 2014 or the latest by 2015, we will be able to begin construction of the RTS." The RTS will not only connect Johor Bahru and Singapore, it also aims to create a comprehensive transport network for the entire Iskandar region.
Furthermore, the project's cost will be determined when both countries decide on the routes of the transportation system and after the completion of the feasibility studies, added Ismail.
Thursday, November 8, 2012
Wellness Township Programme to Commence in 2013 @ Iskandar Region
Khazanah Nasional Bhd and Singapore’s Temasek Holdings will jointly develop the iconic Wellness Township project in Iskandar Malaysia starting next year, reported The Sun Daily.
Covering a total of 207 ha in Medini, Nusajaya (pictured), the Wellness Township will allocate 201 ha for residential projects and 5 ha for commercial developments, said Datuk Ismail Ibrahim, Chief Executive Officer of Iskandar Regional Development Authority (IRDA).
“I understand that the two parties (Khazanah and Temasek), which hold a 50:50 stake in the project, are in the final stages of plan preparation to get the planning approval,” he said.
According to a recent interview with Bernama, Ismail said IRDA has already obtained the application for planning the commercial project on a 5 ha site.
“The commercial component is in the approval stage. I expect building works will start in 2013 at the latest,” he said. This portion will involve the construction of condominiums, serviced apartments, retail units and wellness centres.
Ismail also noted that the construction works for the whole Wellness Township project is expected to be completed within three to four years. Apart from focusing on the healthcare concept at the highest level, residents at the township will be able to enjoy healthcare infrastructure.
“The houses at Wellness Township will be provided with facilities and equipment for owners to enjoy the convenience based on wellness and healthcare. Also, the buildings will have the infrastructure and support services that will provide comfortable living,” added Ismail.
Covering a total of 207 ha in Medini, Nusajaya (pictured), the Wellness Township will allocate 201 ha for residential projects and 5 ha for commercial developments, said Datuk Ismail Ibrahim, Chief Executive Officer of Iskandar Regional Development Authority (IRDA).
“I understand that the two parties (Khazanah and Temasek), which hold a 50:50 stake in the project, are in the final stages of plan preparation to get the planning approval,” he said.
According to a recent interview with Bernama, Ismail said IRDA has already obtained the application for planning the commercial project on a 5 ha site.
“The commercial component is in the approval stage. I expect building works will start in 2013 at the latest,” he said. This portion will involve the construction of condominiums, serviced apartments, retail units and wellness centres.
Ismail also noted that the construction works for the whole Wellness Township project is expected to be completed within three to four years. Apart from focusing on the healthcare concept at the highest level, residents at the township will be able to enjoy healthcare infrastructure.
“The houses at Wellness Township will be provided with facilities and equipment for owners to enjoy the convenience based on wellness and healthcare. Also, the buildings will have the infrastructure and support services that will provide comfortable living,” added Ismail.
Saturday, November 3, 2012
MBJB Giving Out Incentive to Property Owners
In line with the Johor Bahru City Centre Transformation project, the City Council (MBJB) provides several incentives to property owners with properties within the Central Business District (CBD).
Johor Bahru City Mayor Burhan Amin said that the owners of old and historical buildings within the CBD and those involved in the rehabilitation of abandoned developments are eligible for the incentives.
The incentives include a discount ranging between 50 percent and 70 percent on the building planning fee, development charges and contribution for the Improvement Services Fund.
Other incentives also include deferment on quit rent for two years, payment exemption for newly set-up trust fund and allowing the temporary display of advertisements on buildings, noted Burhan.
The city hall will also allow property owners involved in the upgrading of their buildings to pay their quit rent on instalments for 12 months.
"We hope the proactive measures taken by us (MBJB) will help to spearhead and expedite the transformation plan,'' said Burhan during the launch of the JB City Transformation Open Day. The event was jointly organised by MBJB and the Iskandar Regional Development Authority.
About 250 buildings along Jalan Tan Hiok Nee were classified as historical and will be preserved under the Johor Bahru City Centre Transformation project.
The project covers 485.62ha within the CBD including Hospital Sultanah Aminah, Ayer Molek prison, Johor Zoo, Bukit Timbalan, Jalan Wong Ah Fook, and the former sites of the Lumba Kuda low-cost flats.
Johor Bahru City Mayor Burhan Amin said that the owners of old and historical buildings within the CBD and those involved in the rehabilitation of abandoned developments are eligible for the incentives.
The incentives include a discount ranging between 50 percent and 70 percent on the building planning fee, development charges and contribution for the Improvement Services Fund.
Other incentives also include deferment on quit rent for two years, payment exemption for newly set-up trust fund and allowing the temporary display of advertisements on buildings, noted Burhan.
The city hall will also allow property owners involved in the upgrading of their buildings to pay their quit rent on instalments for 12 months.
"We hope the proactive measures taken by us (MBJB) will help to spearhead and expedite the transformation plan,'' said Burhan during the launch of the JB City Transformation Open Day. The event was jointly organised by MBJB and the Iskandar Regional Development Authority.
About 250 buildings along Jalan Tan Hiok Nee were classified as historical and will be preserved under the Johor Bahru City Centre Transformation project.
The project covers 485.62ha within the CBD including Hospital Sultanah Aminah, Ayer Molek prison, Johor Zoo, Bukit Timbalan, Jalan Wong Ah Fook, and the former sites of the Lumba Kuda low-cost flats.
Puter Harbour Family Theme Park is now Open!!!!
The Puteri Harbour Family Theme Park in Nusajaya has is now officially open to the public, reported The Borneo Post.
According to Tunku Datuk Ahmad Burhanuddin, Managing Director and Chief Executive Officer of Themed Attractions and Resorts Sdn Bhd (TAR), over 2,500 visitors have flocked to the theme park since its soft opening last weekend.
“For the first year of operation, we are looking at half-a-million visitors to the theme park,” he said in a report by The Borneo Post.
The opening of two more attractions in Puteri Harbour, The Little Big Club and Sanrio Hello Kittty Town (pictured), is a great accomplishment for TAR. It hopes that these new theme parks will encourage tourists to spend more time in Nusajaya.
“We are committed to providing world class theme park attractions and position Nusajaya as the region’s premier leisure and tourism destination,” explained Tunku Ahmad Burhanuddin.
The Puteri Harbour Family Theme Park is housed in a four-storey building and is the second internationally-acclaimed theme park which opened in Johor, following Legoland Malaysia.
The Puteri Harbour theme park offers unique experiences and excitement with popular children’s characters from The Little Big Club, Sanrio Hello Kitty Town and Lat’s Place.
For instance, Hello Kitty Town features various interactive activities and rides, as well as walk-through attractions which are Hello Kitty-themed. At the same time, Little Big Club showcases lovable children’s characters such as Pingu, Angelina Ballerina, Barney, Bob the Builder, as well as Thomas and Friends.
According to Tunku Datuk Ahmad Burhanuddin, Managing Director and Chief Executive Officer of Themed Attractions and Resorts Sdn Bhd (TAR), over 2,500 visitors have flocked to the theme park since its soft opening last weekend.
“For the first year of operation, we are looking at half-a-million visitors to the theme park,” he said in a report by The Borneo Post.
The opening of two more attractions in Puteri Harbour, The Little Big Club and Sanrio Hello Kittty Town (pictured), is a great accomplishment for TAR. It hopes that these new theme parks will encourage tourists to spend more time in Nusajaya.
“We are committed to providing world class theme park attractions and position Nusajaya as the region’s premier leisure and tourism destination,” explained Tunku Ahmad Burhanuddin.
The Puteri Harbour Family Theme Park is housed in a four-storey building and is the second internationally-acclaimed theme park which opened in Johor, following Legoland Malaysia.
The Puteri Harbour theme park offers unique experiences and excitement with popular children’s characters from The Little Big Club, Sanrio Hello Kitty Town and Lat’s Place.
For instance, Hello Kitty Town features various interactive activities and rides, as well as walk-through attractions which are Hello Kitty-themed. At the same time, Little Big Club showcases lovable children’s characters such as Pingu, Angelina Ballerina, Barney, Bob the Builder, as well as Thomas and Friends.
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