Jul 4, 2011 - PropertyGuru.com.myKhazanah Nasional Bhd, Malaysia’s investment arm, will unveil a multi-billion ringgit development in Desaru this year.
According to a StarBiz report, Prime Minister Satuk Seri Najib Tun Razak is expected to launch the project before the start of next year.
To be undertaken by Desaru Development Corp Sdn Bhd (DDC), a wholly-owned subsidiary of Khazanah, the project will see the construction of two world-class hotels to be managed by two of the world’s most decorated hotel management and golf club companies.
There will be a theme park with eco-adventure, water features and a convention centre.
“The Prime Minster will also declare Desaru as the leisure and tourism region for Johor at the unveiling of the development plan,” said in the report.
Khazanah’s goal is to transform Desaru, located on Johor’s east coast, into a beach-side enclave dotted by large international resorts.
Work on Phase One of the development will commence at the Desaru Golf and Country Club, Desaru Resort Golden Beach Hotel and Desaru Holiday Chalet.
Some suggested that the government should include Desaru as part of the Iskandar Malaysia economic region, since it has already taken over DDC.
“However, the government feels Khazanah should focus on the leisure and tourism sector in its development agenda for Desaru instead of multiple sectors,” said the sources.
It is also noted that Khazanah’s function is to draw domestic and foreign investors to Desaru to undertake the projects on its own or in a joint venture (JV) with Khazanah.
The completion of the RM1.4 billion Senai-Pasir Gudang-Desaru Expressway, which connects Johor Baru and Desaru, will reduce travel time to Desaru and act as a catalyst for the development in the area.
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