KUANTAN: The promising Kuantan Waterfront Resort City (KWRC) project is another step closer to fruition as the contract for the construction of its first phase has been inked.
Ideal Heights Development Sdn Bhd signed a contract with China State Construction Engineering (M) Sdn Bhd (CSCE) for the development at the KWRC Sales Gallery in Tanjung Lumpur.
The RM350mil project consists of a waterfront food and beverage outlet and the Imperium Residence, a two-block service apartment spread over 5.2ha.
One of the 28-floor blocks will be a five-star-hotel while the other will be a residence tower, with both blocks having a total of 715 units.
Ideal Heights executive director Heap Wei Guan said they were confident with the project’s delivery after sealing the deal with their Chinese construction partner.
“We are committed to ensuring that this project will be completed by the last quarter of 2018,” said Heap.
“With the support of our parent company Bina Puri and construction partner, we are confident that there will be no issues in completing the project on time, ” he said.
Heap said the first phase was already 25% completed and that 70% of the two blocks had been sold.
“We want to make KWRC the first place visitors will think of when they come to Kuantan,” he said.
“Furthermore, our waterfront outlet has received many enquiries from major food and beverage companies to open shops here,” he said.
Heap added that the first phase might also include a musical fountain with daily performances to be an entertainment hub for visitors, as well as a pool where families could bring their children to.
Heap added that the remaining 500 acres of KWRC would be completed in phases over the next 10 to 15 years.
He said they received a Detailed Environmental Impact Assessment approval for the project from the Government and hoped to hold ground-breaking of the subsequent phases by the end of the year.
“We are confident that Kuantan will be the next big city as there are many major projects here,” he said.
Heap was referring to the Malaysia China Kuantan Industrial Park (MCKIP), Kuantan Port and East Coast Railway Line (ECRL) projects.
“These projects will boost the economy and create many jobs, and people will come to KWRC for entertainment,” he added.
Among the long-term plans of the RM15bil KWRC project are to build a new township with a theme park, a cruise port, a medical centre, a school and the largest shopping mall in Kuantan..
“And because of this, we will ensure the first phase is a success,” said Heap.
The signing ceremony involved Heap, Bina Puri group managing director Tan Sri Tee Hock Seng, China State Construction Engineering (CSCE) general manager Liu Yueyun and overseas division, business contract manager of Malaysia Jiang Yin Gui.
Heap said CSCE was one of the top construction company in China and ranked No. 27 in the Fortune Global 500 for year 2016.