KUALA LUMPUR: Widad Business Group Sdn Bhd (WBG) has roped in Dubai-based Bin Zayed International LLC (BZI) to help develop a RM40 billion mixed-development known as
[email protected] in Langkawi, Kedah.
The companies will be working together to coordinate with Kedah state government and relevant contractors and consultants on the infrastructural development, construction and other works in the project.
WBG and BZI signed the partnership today, witnessed by Prime Minister Tan Sri Muhyiddin Yassin, Kedah Menteri Besar Muhammad Sanusi Md Noor, Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali and WBG founder and group executive chairman Tan Sri Muhammad Ikmal Opat.
The agreement was signed by WBG executive director Datuk Dr Rizal and Bin Zayed International Group managing director Sheikh Midhat Kidwai.
BZI is part of the Bin Zayed Group, a Dubai-based conglomerate that specialises in construction and energy, trading and industry, real estate, technology and financial services.
It is owned by Sheikh Khaled Zayed Al Nahyan, a senior member of the Abu Dhabi royal family.
Muhammad Ikmal said
[email protected] would transform the landscape of Langkawi and Kedah.
"For a project of such size and significance, it is important that we collaborate with a partner that possesses the necessary technical expertise and shares the same vision as we do.
"Therefore, WBG is honoured for the opportunity to work with Bin Zayed Group and Sheikh Khaled, and we look forward to combining our strengths to ensure its successful completion.
"The WBG-BZI strategic partnership demonstrates the great confidence in this high impact project, which will put Langkawi on the global map and transform it into a centre of regional and worldwide attractions," he said.
The project was previously announced by Muhammad Sanusi on January 20 this year.
It is expected to be completed within 15 to 20 years.
Worth an estimated gross development value of RM40 billion,
[email protected] is modern development with an Islamic and tropical vernacular concept.
Currently, almost 90 per cent of the 1,979 acres (800.87 hecatres) site consists of the ocean.
WBG intends to build a man-made island which will eventually span 1,000 acres (404.69ha) or 50 per cent of the entire ocean area.
[email protected] will feature tourism components such as five and six-star hotel and resorts, an international golf course located beside the "Marina Yacht Club", an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences.
WBG also plans to organise annual events such as "Redbull Air Race", "Power Boat Race", "Jet Ski Race", international fireworks festivals and other culture and art showcases to promote tourism there.
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