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Friday November 23, 2012
By DAVID TAN firstname.lastname@example.org
GEORGE TOWN: Komtar will be revitalised in a RM40mil project by the Only World Group (OWG) which won a 45-year lease for five levels of the 65-storey building.
OWG chairman and chief executive officer Datuk Richard Koh said the group was investing the money to upgrade and reconstruct Levels 5, 59, 60, 64 and 65.
“On Level 5, a 30,000sq ft
boulevard will be constructed
to accommodate food and
beverage outlets and a banquet hall with a seating capacity
for 750 to 1,000 people,” he
Koh said a sky restaurant
and sky lounge would be built on Levels 64 and 65 respectively.
“There will be international class themed restaurants for Levels 59 and 60,” he said after signing the lease agreement
with Penang Development Corporation (PDC) general
manager Datuk Rosli Jaafar
He said work on the project would start immediately and was expected to take 30 months to be fully completed.
Koh said the project would also involve the building of two bubble lifts, costing about RM6mil, which would be completed in 15 months’ time.
Penang Chief Minister Lim Guan Eng, who witnessed the agreement signing, said the Komtar revitalisation project was tendered out via a request for proposal by PDC which called for an open tender on Aug 15, 2010.
He said the Selangor-based OWG had developed theme parks such as the Resorts World Genting, Universal Studios Singapore and Sunway Lagoon.
Lim said the lease was for
a 45-year period with an
option to renew for another 15 years.
He said the Komtar revitalisation project was in line with the initiative by the state government to bring back the shine to Komtar.
“A more vibrant Komtar will enhance the revenues of the traders in the building,” he
When asked to comment on the rental, Rosli said OWG
would pay a very reasonable amount.
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