"With the current market situation, investing in real estate is one of the areas that we are exploring. We are starting to look at providing infrastructure in the east coast," its chief executive officer, Datuk Ismee Ismail, said.
"We believe there is good potential for hotels in Kuala Terengganu looking at the number of direct flights available to Mecca," he said at the launch of Tabung Haji Uniteller Service in Kuala Lumpur yesterday.
Ismee said Tabung Haji is in the midst of finalising the design and building plans. He added that it would be viable to have a 3 or 4-star hotel with more than 250 rooms.
The hotel would cater to pilgrims in Kelantan and Terengganu performing the Haj annually, and to the public outside the Haj season.
It is estimated that it would cost the pilgrims fund between RM80 million and RM100 million to build the hotel and complex.
Tabung Haji is expected to start construction in the first half of next year.
This is the second hotel and complex for pilgrims that Tabung Haji is planning to develop this year.
Tabung Haji also plans to build a hotel, complex and conference centre at the Kuala Lumpur International Airport in Sepang, to facilitate Haj pilgrims.
The ground breaking ceremony is expected to take place soon and construction would start in the fourth quarter.
People familiar with the matter said the KLIA project is worth around RM150 million.
It was reported that there are plans to relocate the Tabung Haji complex in Kelana Jaya to the KLIA, with the Kelana Jaya complex being turned into a Tabung Haji hotel, specifically for Haj courses.
Tabung Haji currently owns hotel and complex for pilgrims in Kota Kinabalu, Sabah and in Penang.
By Business Times (by Sharen Kaur)
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