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.

Saturday, June 27, 2009

Gold Coast Resort developer to invest RM50m in Kenyir project

The STG Group, developer of the Gold Coast Resorts projects, will be investing RM50 million in a lake holiday resort in Kenyir, Terengganu.

This development is the Gold Coast Resorts developer's second project in the East Coast Economic Region (ECER). Its first is the RM10 million Gold Coast Kuantan resort, consisting of 99 apartment suites with views of the South China Sea .

"The Gold Coast Kenyir development will be unique. The project will be made up of a hotel mall with shops, long houses and bungalows built over Lake Kenyir's serene waters," Datuk Dr Alex Tan Siong Seng, chairman of STG Group, said in a statement.

"We are optimistic this project will help draw more tourists to Lake Kenyir to enjoy its natural scenic beauty and water sport," he added.

Lake Kenyir is Asia's largest man-made lake. It contains about 23.6 million cu m of water and covers an area of 369 sq km. Under the ECER's master plan, the lake has been designated for agro-tourism where it will be boosted by aquaculture and tourism.

The Gold Coast Kenyir project will be rolled out in March 2010, kicking off with the construction of 88 bungalows nestled over Lake Kenyir , followed by 188 units of long houses and a hotel mall.

The STG Group is targeting to be listed by 2012.

Other Gold Coast properties include Gold Coast Morib Resort, Nottingham International apartments, located near the Nottingham University in Klang Valley; and Gold Coast Pulau Pangkor.

By Business Times

No comments: