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Monday, January 2, 2012

Johor Land eyes expats for resort township

Johor Land Bhd is talking to Malaysian and foreign investors to expedite development of its RM2 billion integrated resort township project in Tanjung Leman, south off Mersing in Johor.

According to a source, the 142ha township project has attracted interest among investors due to its product offering and location.

The project is located within the Eastern Coast Economic Region, which is among the comprehensive development blueprints put in place by the government.

Tanjung Leman, meanwhile, is one of many beaches along Johor's east coast, besides Desaru, Tanjung Balau and Tanjung Sedili.

The company source said the master plan for the project has been drafted. The project will feature world-class hotel and resorts, a mall, houses, tourist retirement homes, a commercial hub, theme parks and fruit farms, among others.

"We are targeting the expatriate market here, under the Malaysia My Second Home programme. We may also commence talks with international operators for the hotel and themepark but there is nothing on the cards yet," the source told Business Times.

The source said Johor Land, a unit of Johor Corp, the state-owned investment company, aims to start the project in the first half of this year. It is expected to be completed by 2017.

"We have developed the infrastructure and recently invested RM20 million for staging point. This is to service the islands off Mersing during construction," the source said.

JCorp president and chief executive Kamaruzzaman Abu Kassim said in November that the project would be divided into eight sections and is aimed at turning the beach on Johor's northeastern coast into a major tourism hub.

By Business Times

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