The three countries have appointed a local company, Terang Jaya Kayangan (M) Sdn Bhd to manage the project.
Terang Jaya Kayangan (M) Sdn Bhd, Chief Executive Officer Datuk Zainal Abidin Hamid said the new township would comprise a theme park, floating shops, shopping mall, hotel, education centres, hospital and a five star resort.
"The township will also comprise low cost, medium cost and exclusive homes plus government buildings.
"The site for the development is strategic as it is situated near the sea and surrounded by hills. It will certainly attract foreign investors, especially those from the middle-east countries, to buy their second homes here," he told reporters in Lumut today.
Zainal Abidin said the project was expected to start by June next year and completed in 2020.
He added that when completed, the new township would offer 40,000 job opportunities for professionals and non-professionals.
By Bernama
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