Update PM unveils RM40b Melaka Gateway mega development

by **Cals** Fri 07 Feb 2014, 15:48

Update PM unveils RM40b Melaka Gateway mega development

Business & Markets 2014

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com

Friday, 07 February 2014 14:10

MELAKA (Feb 7): Prime Minister Datuk Seri Najib Razak today unveiled the master plan for the Melaka Gateway development, touted as a ground-breaking tourism initiative of mega proportions.

With an estimated gross developmental value (GDV) of RM40 billion spanning 609 acres, Melaka Gateway will also boast of "the largest private marina in Southeast Asia" when completed by 2025.

"This development is projected to attract an additional 2.5 million tourists over the next 12 years with high-yield consumers expected to contribute to tourism earnings of Malaysia," he said in his speech.

KAJ Development Sdn Bhd, a construction and engineering company with a proven track record in Melaka, will spearhead the project, along with the participation of other international firms.

At a press briefing yesterday, chief operating officer of KAJ Development, Gavin Lau, said that the development would comprise the Melaka International Cruise Terminal (MICT), an entertainment hub, high-rise condominiums, marina villas with private berths, a health and wellness precinct and The Beacon, a 288 metre high building which would house a 7-star hotel and luxury apartments.

Lau said the first phase of the development, the entertainment hub, would consist of the Malaysia Eye, a fashion walk and a 60-acre 5D theme park.

The amenities would spread over two man-made islands and one natural island.

He added that reclamation works for the man-made islands had commenced 4 weeks ago, and was expected to be completed within 18 months.

"The natural island will be one of the first eco islands in the world powered by solar, wind and wave technologies," he said.

The whole development will be connected via a monorail system, provided by Intamin, a German-based monorail systems manufacturer.

Lau said Singapore-based DP Architects Pte Ltd is the master architect for the development.

According to Haris Aziz, director of NV Terminals Sdn Bhd, a maritime consultancy firm appointed for the project, Melaka currently lacked the facilities to cater for cruise ships, despite getting about 20 cruise calls per year.

"We plan to come up with the MICT within 3 to 5 years, where phase 1 will be ready in three to four years.

"We're planning to have 450 metres completed under phase 1 to accomodate one or two major vessels," said Haris, adding that the completed terminal would have a total of 900 metres berthing length to cater for three large vessels.

With the completion of the project, NV Terminals expects higher revenue for the state of Melaka, and potential economic spinoffs such as the provision of ancillary services for berthed yachts.