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Saturday, July 11, 2009

CMP to start Lido Beach mega project this year

JOHOR BARU: Central Malaysia Properties Sdn Bhd (CMP) will start developing Lido Boulevard, its multi-billion ringgit integrated waterfront development project, this year.

Datuk Chan Tien Ghee with the model of Lido Boulevard.

Managing director Datuk Chan Tien Ghee said land reclamation work along Lido Beach would start soon and would take 24 months to complete.

“The project has a gross development cost of RM2.7bil and a gross development value estimated at RM4bil,’’ he told StarBizWeek.

Located on 49.37ha, the project will be developed in phases stretching 2.4km along the Tebrau Straits from the now the defunct Lot I shopping complex to the Harbour Master’s office.

The flagship project by CMP, a company linked to business tycoon Tan Sri Vincent Tan Chee Yioun, is a joint-venture between CMP and Johor State Secretary Inc as the land owner.

“The project will be fully funded by CMP,’’ said Chan.

He said four dredging companies had bid for the reclamation work and the winning tender would be announced by end of the month.

They are Dredging International and Jan De Nul from Belgium, and the Netherlands-based Boskalis and Van Oord.

The notable projects undertaken by them include the Penny’s Bay for the Hong Kong Disney World Park, Dubai Palm Jumeirah, Singapore’s Jurong Island, Pulau Indah Marina and Watervillage in Klang and Palm Cove Canal in the United Arab Emirates.

About 6.8 million cu m of sand sourced from Teluk Rumania on the east coast of Johor is required for reclamation works.

The sand will be transported by a dredger anchored at Stulang Laut near the Causeway; then pumped to the site via a 2-km floating and sunken pipeline.

To facilitate this, two culverts under the Causeway were cleaned; one will be used to transport the sand and the other to ensure continuous flow of water.

“This was the first cleaning exercise conducted on the Johor side since the road section of the Causeway was completed in 1923,’’ said Chan.

He said the continuous flow of water from Stulang Laut to Lido Beach and vice versa would improve the water quality at Lido Beach.

“The project is expected to take shape by 2016 and it will completely rehabilitate Lido Beach and give Johor Baru a facelift,’’ said Chan.

The project comprises four main components – luxury condominiums, waterfront office suites, a hotel and a shopping mall.

Eight condominium blocks of between 18 and 26 floors each will offer 914 units on a 10.60-ha site.

Eight office blocks between six and eight floors each, a 296-room hotel-cum-serviced residences and a three-storey dual-frontage retail complex are also in the plan.

Incorporated in the mall will be an international-sized ice skating rink and 32-lane bowling alley and one of the main attractions will be the 4,645.15 sq m Indoor Snow Park with activities like ice sliders and tobogganing.

Chan said RM150mil would be spent to upgrade Jalan Abu Bakar, including widening it and building pedestrian bridges. CMP would also allocate RM46mil for landscaping to include water features like wading and splash pools as well as pocket parks along the 10m wide boardwalk.

By The Star

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