Yong Tai Bhd executive director Boo Kuang Loon
KUALA LUMPUR: Yong Tai Bhd
plans to start the first phase of its Impression City development project in Malacca by the third quarter of this year.
Executive director Boo Kuang Loon said the first phase of the development was estimated to have a RM1.1bil gross development value (GDV).
The whole Impression City project is expected to have RM5.4bil GDV spanning over 10-years to be developed on 117 acres of land.
“Phase 1 of Impression City will feature mostly commercial properties such as retail units, office towers,” Boo told reporters after speaking at a luncheon organised by MIDF Amanah Investment Bank Bhd on Tuesday.
On Impression Melaka theatre, he said the construction was expected to begin in March and would take about 18 months to complete.
Boo said the entire production required an investment of about RM300mil including land cost.
Notably, Impression Melaka is one of the entry point project within the Tourism National Key Economic Area.
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