Two hotels, a mall, business centre and a host of wellness related suites and apartments are expected to take shape on a portion of the reclaimed Gurney Drive. Business Times understands that the proposed projects will be sited on some 20.2ha of land located between the sea-fronting promenade and Bandar Tanjung Pinang, which is part of Ewein Zenith Sdn Bhd’s “Wellness City of Dreams” development.
An artist’s rendering of the proposed development has revealed that a resort hotel, five-star hotel and a two million sq ft wellness mall are expected to front Gurney Plaza, G Hotel and at least one high-rise condominium now on Gurney Drive.
Other components of development on the reclaimed piece of land are expected to include wellness apartments, residential suites, serviced apartments, healthcare suites and a wellness business centre.
The project will stand on part of 53ha of Gurney Drive’s seafront, which will be reclaimed by property developer Eastern and Oriental Bhd and handed over to the state government.
It has been reported that the 20.2ha will be given to Consortium Zenith BUCG Sdn Bhd (CZBUCG) by the Penang government as compensation-in-kind for the building ofthe upcoming RM6.3 billion mega project, comprising three expressways and an undersea tunnel linking Penang island and the mainland.
Property developer Ewein Bhd formed Ewein Zenith with CZBUCG to develop the Wellness City of Dreams, which has reported a potential gross development value (GDV) of RM13.89 billion.
Ewein owns a 60 per cent stake in Ewein Zenith andCZBUCG, with the remaining 40 per cent held by CZUBG.
City of Dreams, which has a GDV of RM800 million, is the first component ofthe overall development.
The luxury seafront serviced apartment project will comprise two 38-storey towers with 572 seaview units, while their built-ups range from 1,097 to 2,350sqft.
It is learnt that Ewein is expected to prime itself for the development por tion of the project, while CZBUCG is keen to pursue the construction part involving the mega infrastructure road project.
However, Ewein Zenith officials could not be reached for comment.