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Wednesday, December 18, 2013

World-Class Theme Parks in Rawang


KUALA LUMPUR, Dec -- Property developer, DA Land Sdn Bhd, will develop indoor and outdoor world-class theme parks on a 20.4ha site in Rawang, costing a cumulative RM5 billion next year.

The mega development project, namely Two, is set to transform the development landscape along the northern corridor and is expected to be completed in 2018, Chief Executive Officer Derek Chew said.

The project will be partially funded by bank borrowings, while the balance through internally-generated funds," he told Bernama today.

The Two is designed to be a three-in-one theme park resort, a wholesale city and a mall outlet.

It will feature outdoor, semi-outdoor and indoor parks and gardens, with more developments expected in its future phases to make it the largest theme park of its kind in the world.

"The Two is a truly integrated development, each component drives the synergy of each other," Chew said in a statement to announce the launch of the project.

He said the unique location and the direct access to and from the North-South Expressway would ensure the project's future sustainability and its prospective status as an iconic Malaysian retail development.

"The Two can be a wholesale regional hub for Asean as Malaysia is a strategic point in Asia for travellers," he said, adding that it could be an ideal rest stop for long distance travellers along the expressway.

Chew said the Two was an ideal investment prospect as the hidden value of this project lies in the types of patrons it would attract.

"A retail investment in the Two is a golden opportunity," he added.

-- BERNAMA Mohd Iswandi Kasan Anuar

www.hartanahmetro.com

Alfranko Group coming to Malaysia Property Market

KUALA LUMPUR, Dec 13 - Europe-based Alfranko Group says its move to develop a commercial building in the country is a resounding endorsement of Malaysia as a preferred investment destination for multinational firms.

The project on Jalan Ampang, Novo Ampang, with a gross development value of RM400 million, is its maiden development in Southeast Asia.

The group, via its associate Alfranko Development Sdn Bhd, aims to penetrate the Malaysian property market, which it says is not overheated.

Vice-President Datuk Sergei Melnikov said the initial RM150 million invested in the 1.068 ha. flagship development will be utilised for land acquisition, construction fees and development charges.

The project, comprising a 38-storey single tower building with 421 suites priced from RM900,000 to RM1 million each, is set to launch in the first quarter of next year and slated for completion by 2017.

"We expect about 60 per cent of the total units to be sold locally to young professionals and property investors, with the other 40 per cent to foreign buyers from Singapore and China," Melnikov told Bernama.

Melnikov said the group will undertake a serviced apartment development project in Johor Baharu upon completing the Novo Ampang project.

"We have two pieces of land in Johor Baharu and the projects are for the construction of serviced apartments and offices, however they are still at a preliminary stage," he added.

Alfranko Group, a multi-award winning developer, is poised to be a major contender in the property industry in Malaysia and will continue to expand to Singapore and Thailand soon, said Melnikov.

With an established reputation in property development in Russia, the group is a major investor in the Automobile Centre in Moscow, one of the biggest all-in-one auto cities in Europe worth an estimated US$600 million.

-- wrote by BERNAMA