GDVs, even for Malaysian developers are getting every larger. Perhaps this is a sign of times, of the growing Malaysian developers. Another one was just announced in many medias. Bina Puri Holdings Bhd and CCCC Dredging (Group) Co Ltd will be forming a consortium for the Kuantan Waterfront Resort City with each having a 50 percent stake. The project would have agross development value (GDV) of RM15bil to be built over a period of 10 years. Bina Puri Holdings Bhd chairman Tan Seri Datuk Wong Foon Meng said “Bina Puri will undertake the development of the waterfront while the reclamation work will be carried out by CCCC Dredging.”
The project will start with two serviced apartment blocks and a waterfront food and beverages complex. Overall, the development comprises a residential development, commercial development and education as well as medical tourism facilities. The first phase which are the serviced apartment blocks and waterfront food and beverage complex is 70 percent sold and most of the buyers are from the East Coast. Kuantan Waterfront Resort City will be Kuantan’s first integrated resort, leisure and entertainment destination and it is just 2km away from the Kuantan city. Total area covers 500 acres of reclaimed land.
Want to know a little bit more about Kuantan? Besides just reading wiki, here’s a blog to help you too. Kuantan’s beach faces the South China Sea which is definitely an awesome view. As for the sand, I understand from my friend who is from Kuantan that it’s definitely ‘whiter’ than the sand in Batu Ferringhi Penang. Distance wise, Kuantan is 233km away from Kuala Lumpur and this entails a driving duration of about 2 hours and 30 minutes. I think I will pay my friend a visit the next time she goes home. My kids love the beaches and we have been to Morib way too many times and the beach as everyone knows is not exactly white in colour. More awesome places in Malaysia is always welcomed.
written on 10 Oct 2016
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