KUALA LUMPUR, Sept 8 — Golden Land Property Development (M) Sdn Bhd has signed a joint-venture (JV) agreement with CCCC Third Harbor Consultants Co. Ltd (CCCC) and Fleur Capital to develop Cheng Ho City, a mixed-development project with a gross development value (GDV) of RM8.9 billion.
Golden Land Chief Executive Officer, HS Sheon said the project would be built in three phases on a 121.4-hectare (ha) plot in Alor Gajah, Melaka, commencing in 2018 and scheduled for completion within seven years.
He said the first phase of the project entailed the construction of the Cheng Ho Tourism Culture Centre on 40.47ha of land, with a GDV of RM1.9 billion comprising Cheng Ho Walk, Cheng Ho Co Hotel, serviced condominiums, premium village and resort.
Speaking to Bernama after witnessing the signing of the JV agreement between Golden Land and the two companies here, today, Sheon said the first phase was scheduled for completion within three years.
“We will begin construction once our development order process is completed about one year from now, and we expect to start on the second phase in 2019,” he added.
Under the JV, CCCC will be in charge of the design for the phase one development, technical works and the appointment of suitable contractors for the project.
He said Golden Land planned to list on Bursa Malaysia by January 2019 via a reverse takeover or via an initial public offering.
“We have appointed a professional company to look into our plan for listing,” he said, adding that the company also planned to list on the London Stock Exchange by 2021.
He said Cheng Ho City would be Golden Land’s first development project in Malaysia, as the company focused on commercial development projects.
Moving forward, he said the company aimed to develop more tourism areas in Malaysia. — Bernama