GEORGE TOWN: – Eco World Development Group Bhd will kick-start its RM10 billion mixed development project, Eco Marina, in Bandar Cassia in Batu Kawan, over the next nine months after receiving the nod from Penang Development Corp (PDC).
Its president/chief executive officer, Datuk Chang Khim Wah, said the 182-hectare project comprised approximately 121 ha of residential and commercial properties and 61-ha international standard 18-hole golf course with a club house.
He said the ground-breaking would start in nine to 12 months and the project would be completed in about 10 years.
“We are looking at creating a new township on mainland Penang that will set new benchmarks in the property scene up north,” he told reporters after accepting the letter of award from PDC general manager, Datuk Rosli Jaafar, here today.
Also present were Penang Chief Minister Lim Guan Eng and EcoWorld chairman, Tan Sri Liew Kee Sin.
Eco World will be purchase the first parcel and lease the second for approximately RM769 million.
Chang said Batu Kawan would be the group’s maiden waterfront project that would also include retail component and hotels.
He said Eco Marina has great potentials to become one of the most sought-after residential and commercial addresses in Malaysia.
“The combined impact of an active waterfront and an international standard golf course is a winning proposition which we are certain will not only attract locals but also discerning property investors from all over the world,” he said.
He said EcoWorld has about 219ha of undeveloped land in Penang and 2,183ha in the rest of Malaysia. -- BERNAMA