It’s really nice to find out that Malaysia, under the auspices of the Malaysia Pacific Corporation Bhd, is heading towards the introduction of new property LakeHill Resort City property development in February next year.
This has come to the fore owing to the annunciation of Datuk Bill C.P. Ch’ng. He is the President and Chief Executive Officer of Malaysia Pacific Corporation Bhd. What will be the implications? According to the experts, this very project will be regarded as an innovative approach of Malaysia towards making the country an ideal seat of modernization and gratifying the rising aspirations of its own citizens. It should be noted, in this context, that the first phase consisted of the commercial and medium range residential homes in Taman Nusa Damai and is an integral part of the Lakehill Resort development. What is the valuation of the entire property? If we go by the words of the CEO, the gross development value (GDV) happens to be between RM70 million to RM80 million.
Well, all of us know that nothing succeeds like success. Perhaps it is the influence of this success that enlivened the spirit of Datuk Bill C.P. Ch’ng and this became evident when he was talking to the reporters after the company’s annual general meeting. His mood was perfect when he announced that the first phase is scheduled to be completed in two years though it was planned to be launched at the end of this month. When asked, he said very categorically, “We are rescheduling our marketing strategy following the global economic crisis. We will have the first joint board of directors to set up direction of the project in stages.”
The first phase of the project is a part of the RM6.6 billion GDV LakeHill Resort development which comprised a six-star hotel, luxury retirement residences, commercial entertainment core, along with a spacious trade and expo city. What will be the fate of the Lakehill Resort Project? It is expected that this project will be completed in the next six to eight years no matter what.
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