KUALA LUMPUR: Kuala Lumpur Metropolitan (M) Sdn Bhd, the developer of The Legend Water Chalets at Port Dickson, will be launching a new project worth RM100mil by July.
Its director, Datuk Low Tak Fatt, said the project would comprise up to 300 water chalets on 10 acres, also at Port Dickson, with each unit tagged between RM200,000 and RM400,000.
“We expect our forthcoming project to be completed within 36 months.
“We plan to promote this project abroad and target between 40% and 50% of the buyers from foreign countries. We will set up offices in Dubai and Hong Kong to market the project,” he told reporters after the signing of a hotel management agreement yesterday between Kuala Lumpur Metropolitan and The Legend Group of Hotels and Resorts.
The latter, which is a unit of Metroplex Group Bhd, will manage and operate The Legend Water Chalets for five years until June 2011. The current project is scheduled for completion by next month and targeted for opening in August.
The water chalets comprise phase 1 with 280 water chalets and phase 2 with 112 service suites. Total investment is estimated at RM70mil.
Low said most of the units had been sold under a lease-back agreement.
“For the current project, the buyers will get a rental guarantee return, which is 6% per annum of the price of the unit they bought, over a fixed period of three years,” he said, adding that the bulk of its buyers was from the Klang Valley, with 20% foreigners.
Meanwhile, Tourism Minister Datuk Seri Tengku Adnan Tengku Mansor, who was present at the ceremony, said he was in discussion with the private sector and state governments to increase resources and utilities in meeting the target of attracting 20.1 million foreign tourists to Malaysia next year.
On the number of international routes that Malaysia Airlines (MAS) is cutting down under its business turnaround plan, Adnan said he had met MAS and would be meeting AirAsia as well as other carriers to resolve the problem.
“We might suggest to the Government to have an open-sky policy in some places like Penang and Pulau Langkawi,” he said.