CENTRAL Malaysian Properties Sdn Bhd (CMP) announced today that it will start work on the RM2.7 billion Lido Boulevard project in Johor Baru by September this year.
In a statement, CMP said the integrated residential-cum-commercial city project will begin with land reclamation which is expected to be completed within 24 months.
The 122-acre Lido Boulevard between State Secretary Incorporated, a Johor state government investment company, and CMP is one of the biggest private finance initiatives to date within the Iskandar Malaysia development corridor.
“When fully developed, the project will completely rehabilitate a major stretch of Lido Beach, often considered an eyesore by locals,” CMP said.
CMP managing director Datuk Chan Tien Chee said the land reclamation would be strictly monitored with stringent measures in place to protect marine life, the coastal environment and the livelihoods of affected fishermen.
By Bernama
Friday, June 13, 2008
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