Sentoria has signed agreements with Seriemas Development Sdn Bhd to undertake the venture.
"This partnership presents an ideal growth opportunity as we tap into the tremendous potential in the West Coast of Malaysia," Sentoria head of public and investor relations Nasiruddin Nasrun said in a statement yesterday.
Nasiruddin said given the large catchment population in the vicinity supported by high accessibility via land and air, Sentoria believes that the venture would elevate tourism to Morib in a big way.
"Sentoria has garnered much experience in developing and operating our successful integrated resort city in Kuantan and look to replicate our success in Morib," he added.
The Morib integrated resort city is not only targeted to draw visitors from the nearby towns but also from Selangor, Negri Sembilan and Malacca.
Located about 40km from the Kuala Lumpur International Airport and low-cost carrier terminal in Sepang, Morib is easily accessible through highways such as the North-South Expressway, Shah Alam Expressway, and Maju Expressway.
The integrated resort is targeted for completion within five years, and will comprise four components: a resort and convention centre, a boutique hotel, a water theme park and a Safari park.
The development cost of the integrated resort together with land purchase is estimated to be RM190.3 million.
The mixed property development project, meanwhile, is estimated to have a gross development value of RM1.6 billion spanning an eight-year period.
Sentoria intends to fund the development via internally-generated funds and/or bank borrowings.
Sentoria is the developer and operator of Bukit Gambang Resort City, a 290.9ha integrated resort in Kuantan, Pahang.
Last year, it was awarded the "Best Large Water Park 2011" by the Malaysian Association of Amusement, Theme Park, and Family Attractions. It has attracted more than 1.6 million visitors since its opening in 2009.
No comments:
Post a Comment