No slowdown in mega land reclamation projects

Regarding the new mega land reclaimation deals, real estate consultancy Savills Malaysia group managing director Datuk Paul Khong (pic) says the success of such projects is about both timing and cashflow.

DESPITE the soft property market largely due to the Covid-19 pandemic, there has not been a slowdown in mega land reclaimation projects in the country.

At end-March, Widad Business Group Sdn Bhd (WBG) announced a RM40bil mixed development known as Widad@Langkasuka in Langkawi where the centrepiece will be a 1,000-acre, man-made island. The project is a 50:50 collaboration with Bin Zayed International LLC (BZI), and will be developed over 15 to 20 years.