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, February 1, 2008

RM500m waterfront city by 2010

An artist’s impression of the Kota Kinabalu City Waterfront project.

KOTA KINABALU: A RM500 million mixed seafront development is poised to change the face of this bustling and vibrant city.

Expected to be completed by 2010, the Kota Kinabalu City Waterfront (KKCW) development will, among others, feature the key attraction of a 2km-long boardwalk, to be built using eco-friendly materials, rising above the sea on stilts.

The KKCW is set to be a thriving waterfront pedestrian walkway that will seamlessly connect a variety of retail, lifestyle, residential and hotel establishments.

The project is being developed by Waterfront Urban Development Sdn Bhd (WUD) in collaboration with the Kota Kinabalu City Hall (DBKK).

It was unveiled during the launching of the Sabah Development Corridor (SDC) by Prime Minister Datuk Seri Abdullah Ahmad Badawi last Tuesday.
Abdullah also witnessed the signing of the tripartite agreement for the KKCW development between WUD, Kuwait Finance House (Malaysia) Bhd and a consortium of Middle Eastern and Malaysian investors.

WUD managing director Reymee Mohamed Hussein said in line with the preservation of the environment, the KKCW development would incorporate environment-friendly features.

This will include hi-tech lighting, energy-conserving air conditioning systems and solar-powered pedestrian lighting.

Reymee said the KKCW master plan was conceptualised in collaboration with DBKK.

It is in line with the state government's endorsement for synergistic smart partnerships that leverage on the private sector's dynamism and the stewardship of public entities.

"The project is in line with SDC and DBKK's overall urbanisation and development masterplan, which is primarily to increase the role of coastal cities as catalysts for modernisation and development in Sabah," he said.

The project was envisaged after detailed studies were done on several thriving world-class international waterfront attractions such as Darling Harbour (Australia), Cape Town Waterfront (South Africa), Victoria Harbour (Hong Kong), Canary Wharf (London) and Clark Quay Riverside (Singapore).

The development will also spur economic growth for Kota Kinabalu and provide employment and new business opportunities to local residents and businesses.

"WUD designed this development to unlock the potential of the city's waterfront and be comparable with other worldclass waterfront development," Reymee said.

The KKCW project is expected to attract high-end tourists as it aims to be among the world's great seafront destinations.

By New Straits Times (by Joniston Bangkuai)

CRSC, Aman Resorts plan RM200mil Belum resort

IPOH: The CRSC group and Aman Resorts International are investing a total of RM200mil to develop an eco-tourism and island resort on Pulau Besar in Tasik Temenggor, Belum forest reserve.

Aman Resorts executive director Greg Sirois said the investment, to be spread over four phases, would include the construction of a RM60mil six-star hotel.

Datuk Seri Mohamad Tajol Rosli Ghazali (second from left) taking a look at the agreement. With him are (from left) Datuk Lawrence Low, Datuk Mohamad Yusoff Kassim and Greg Sirois

“The hotel design is still being developed but construction will begin as soon as approval is obtained,” he said after the signing of the project agreement between CRSC and Belum Island Resort Sdn Bhd here yesterday.

The hotel is due for completion next year.

The signing ceremony was witnessed by Perak Mentri Besar Datuk Seri Mohamad Tajol Rosli Ghazali. Also present were Belum Island Resort chairman Datuk Mohamad Yusoff Kassim and CRSC group deputy chairman Datuk Lawrence Low.

Aman Resorts owns and manages 18 small luxury resorts worldwide.

To a question, Sirois said the resort would be eco-friendly and appeal to nature lovers.

“We understand that Tasik Temenggor is an ecologically sensitive area and we will preserve the island's pristine beauty,'' he said.

Earlier, Mohamad Yusoff said some 2,000ha would be developed for the project.

“Development of phase one will cover some 400ha,” he said, adding that the project would be a boon to the state's economic development.

Belum Island Resort is a subsidiary of CRSC group, which is a local hotelier group based in Malacca.

By The Star (by

Axis-REIT eyes Niro properties

AXIS Real Estate Investment Trust (Axis-REIT) plans to buy leasehold properties in Johor from Niro Ceramic (M) Sdn Bhd and Oriental Pulse Sdn Bhd for RM27 million collectively, and enter into a lease back arrangement with the companies. In a statement, Axis-REIT said the plan is to provide unit holders with stable distribution and to achieve growth in net asset value per unit of the fund, which stands at RM1.653. The acquisition will be funded by existing bank borrowings of Axis-REIT, it said.

By New Straits Times