Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, January 11, 2008

Central gears up to begin work on LIDO BOULEVARD

EYE-CATCHING LANDMARK: Artist's impression of the RM2.7 billion waterfront project in Iskandar Development Region (Johor)

Central Malaysian Properties Sdn Bhd (CMP), a company linked to businessman Tan Sri Vincent Tan Chee Yioun, said it is on track to begin work on the RM2.7 billion Lido Boulevard waterfront project in the Iskandar Development Region, Johor, in March.

The property developer will start mobilising construction equipment and manpower at the 49.37ha beachfront site.

The project is expected to be completed by 2016.

"The pre-qualification of contractors saw more than 130 international firms submit bids for the project. This is a clear indication that Iskandar is drawing wide attention," CMP managing director Datuk Chan Tien Ghee said in a statement yesterday.

The Lido Boulevard is one of the biggest private finance initiatives along the Lido waterfront in Johor Baru, after the Danga Bay development.

The project is a joint venture between CMP and Johor State Secretary Inc, an investment holding company of the Johor state government, which is also the landowner.

To be developed in phases, the project will stretch 2.4km along Lido Beach from the Lot 1 shopping mall to the Marine Department.

"We are ready to mobilise equipment and manpower to start physical works on-site pending certain final approvals from the authorities. We expect construction to go full swing after the Chinese New Year," Chan said.

CMP will spend RM150 million over the next two years to upgrade all existing road infrastructure at the site, he added. This includes expanding Jalan Abu Bakar (Jalan Skudai) into a dual three-lane carriageway.

"We will also build flyovers and pedestrian bridges to transform Lido Boulevard into one of the most attractive destinations in Johor Baru."

Chan said works will also involve land reclamation at Lido Beach.

Lido Boulevard has four main development components: luxury condominiums, waterfront office suites, a hotel and a shopping mall.

According to Chan, Lido Boulevard will have generous open spaces for public recreation. This includes a 2.4km-long boardwalk, 9.7ha man-made lagoon for water activities and 1.8ha public park.

The development blueprint is based on the theme of a "garden city", with landscaped gardens, water fountains and park-like facilities covering nearly a quarter of the area.

By New Straits Times

No comments: