Vigorous growth in East Coast state

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KWRC_Master_plan_2PETALING JAYA: Rail, port and industrial park developments are poised to spur growth in the east coast, prompting vigorous expansion in local housing and tourism market, including the iconic waterfront gem, Kuantan Waterfront Resort City (KWRC).

Located two km from Kuantan city centre, KWRC will sprawl 500 acres of reclaimed land at Tanjung Lumpur.

The project with a gross development value (GDV) of RM15bil is developed by Ideal Heights Development Sdn Bhd, and is set to be Kuantan’s first integrated resort, leisure and entertainment destination within the waterfront living enclave.

According to statement, it will create 5,000 jobs and attract more than one million visitors after its 10 years of development period.

KWRC’s iconic landmark is the 59-story luxury tower, in which reclamation will commence from the middle of next year and will be completed within three years.

Phase 1 of the development consists of two blocks of serviced apartment and a waterfront F&B complex with a GDV of RM350mil. It received positive response from buyer with a take-up rate of over 70%. The expected completion date is set in 2018.

The other components will include water themepark, indoor aquaria, international cruise terminal, duty free complex, premium outlets, themed shopping mall, waterfront promenade, hotels, resorts and convention centre.

The residential development will offer waterfront and seafront terraces, semi-detached houses, bungalows, high-rise condominiums and low-rise duplex villas.

Meanwhile, the commercial development will also have a business park, corporate towers and showrooms, commercial shop lots and serviced apartments. It will also have a private international school, medical centre and a retirement village.

Ideal Heights Development Sdn Bhd is a joint-venture of Ideal Heights Properties Sdn Bhd, which is a member of Bina Puri Holdings Bhd and Newston International Group Sdn Bhd.

Phase 1

Phase 1

Industrial Growth in Pahang
The statement said KWRC will complement the RM3bil expansion of Kuantan Port into a deepwater harbour and the development of the Malaysia-China integrated National Industrial Park.

These two projects are part of the Pahang state government’s masterplan to re-energise Kuantan and its periphery.

Bina Puri Holdings group executive director Datuk Matthew Tee said the synergy from peripheral developments at the expanded Kuantan Port and the joint venture project by a Malaysia-China consortium to build the first industrial park in Malaysia will accelerate economic growth in Kuantan.

“The expanded port will help enhance its position as the quickest and most direct route between Malaysia and ports in China’s eastern region.

“The completion of the project will also see Kuantan cementing its status as the integrated industrial and logistics hub for the region,” said Tee.

At a recent signing ceremony of the partnership attended by Transport Minister Datuk Seri Liow Tiong Lai and Bina Puri Holdings Bhd chairman Tan Sri Wong Foon Meng, it was announced that the consortium is between CCCC Dredging (Group) Co Ltd, an international construction player, and Bina Puri Holdings Bhd, both holding equal shares.

The RM4.2bil integrated joint-venture steel mill between Qizhou and Malaysia will go on stream soon producing high carbon steel and H-shaped steel with an annual production capacity of 3.5 million tonnes in 2017. This steel facility, when fully developed in year 2020, on a 710-acre site will create 12,000 jobs.

The Federal Government has also announced the approval of a new East Coast rail line costing RM55bil.

Waterfront_FB_Outlets
Industrial development spurs housing demand
Ideal Heights Development Sdn Bhd executive director Heap Wei Guan said the expected increase of industrial development in Pahang would spur demand for housing.

“From the integrated steel mill itself, you are talking about 6,000 jobs opportunities who will need to have a roof over their heads.

“The East Coast Rail will also turn pockets of prime land along East Coast States into growth centres because of interconnectivity,” he said.

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