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Melaka Gateway secures 5 foreign investors
Posted on 10 February 2014 - 05:40am
Eva Yeong
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MALACCA (Feb 10, 2014): KAJ Development Sdn Bhd (KAJD), the master developer of Melaka Gateway, has secured five international investors for the RM40 billion project which was launched by the prime minister last Friday.

Its CEO Datuk Michelle Ong said the 609-acre project, which will be completed in 2025, has attracted investors from China, Singapore, the United Arab Emirates (UAE), the UK, Italy, the US and Korea.

Last Friday, the master developer signed memorandums of understanding with five international companies, namely, TRE Development Pte Ltd from Singapore, Skyye Group Pte Ltd from Italy, Rinani International Aero Marine which is a Korean-Malaysian joint venture (JV), Kasen International from China and Royal Caribbean Cruise from the US.

Ong said Kasen International is the project's first international investor and will be developing hotels and condominiums with a projected gross development value (GDV) of RM1.9 billion while TRE Development has acquired six acres of land for RM88 million.

Meanwhile, Skyye Group will bring in 200 branded goods and Royal Caribbean Cruise will jointly develop the cruise jetty with KAJD.

"About 40% (of the project) will be foreign investors while 26% to 30% will be done by us and the balance through JVs," Ong said, adding that the value of the foreign investments secured will be revealed at a later date.

KAJD chief operations officer Gavin Lau said it is in negotiations with several theme park operators from Australia and the US for the 60-acre theme park while some investors from UAE are interested in its Gateway Beacon Tower project, a 288-metre tower comprising a seven-star hotel and condominiums.

http://www.thesundaily.my/news/952676
 

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Discussion Starter · #4 · (Edited)
Melaka Gateway Near Pulau Melaka taken from Idris Haron FB




http://www.bharian.com.my/articles/MelakaGatewayjanaekonomibaharu/Article/

PM to launch Melaka Gateway project

Feb 7, 2014


MALACCA: Prime Minister Datuk Seri Najib Razak will officiate Malacca's latest development project that will see the creation of three man-made islands off the coast of Bandar Hilir today.
The islands will be located near Pulau Melaka, the first man-made island in the state.

Once completed, they will be Southeast Asia's largest cluster of man-made islands.

Chief Minister Datuk Seri Idris Haron said the RM40 billion Melaka Gateway mixed development project on 246ha of land comprised hotels, malls, restaurants, theme parks, museum, recreational and sports centres.

"The project will give a continuity to the development of the city here and create a long-term economic development. The new islands, which will be fully developed by 2023 , will be the nucleus of the new economic development in the state similar to the Iskandar Development Region and East Coast Economic Region.

"With an international cruise terminal, iconic tourism landmarks, marinas and a cultural centre on the cards, it will be on par with Manhattan in New York."

The project is privately undertaken by Kejuruteraan Asas Jaya Sdn Bhd, with foreign investments from the United Arab Emirates, Hong Kong, China and the United States.

The mega-tourism project is slated to provide 15,000 jobs and attract an additional 2.5 million tourists to the state with an expected annual growth of 18.5 per cent.

It is also expected to contribute RM6 billion to the state's Gross Domestic Product.

After officiating the project, Najib will perform Friday prayers at Masjid Selat in Pulau Melaka before officiating the "Rimbunan Kaseh" agriculture project in Serkam, Jasin.

The project is jointly organised by the Implementation Coordination Unit under the PM's Department, with Iris Corporation Bhd and the state government.

The RM27 million project is part of the National Key Results Area initiatives, to raise the living standard of the low-income group.



Read more: PM to launch Melaka Gateway project - General - New Straits Times http://www.nst.com.my/nation/general/pm-to-launch-melaka-gateway-project-1.478712#ixzz2stLzEC4d
 

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Discussion Starter · #8 ·
Thursday, 23 June 2016 | MYT 11:28 PM
Malacca Int’l Cruise Terminal to be completed next year

A scale model of the Malacca International Cruise Terminal at the RM40bil Melaka Gateway project. - Bernama

MALACCA: The construction of the Malacca International Cruise Terminal, part of the Melaka Gateway project, will kick off in three months and is expected for completion in 2017.

Malacca Transport, Project Rehabilitation and International Trade committee chairman, Datuk Lim Ban Hong, said the terminal would be able to accommodate four large cruise ships simultaneously.

“We are targeting 250 cruise ships to dock at the terminal per year by 2020 and bring in a strong economic impact to the state,” he told reporters in Malacca on Thursday.
http://www.thestar.com.my/business/...tl-cruise-terminal-to-be-completed-next-year/
 
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