KHAZANAH Nasional Bhd has invested more than RM4bil to transform Johor’s Desaru Coast and Legoland Malaysia Resort into world-class tourism destinations, says Prime Minister Datuk Seri Anwar Ibrahim.
He said the sovereign wealth fund’s investments – through its subsidiary Destination Resorts and Hotels Sdn Bhd – have turned Desaru Coast into a premium coastal destination anchored by global hotel brands, with plans to add more resorts, residences and attractions over the next five years.
Anwar, who is also Finance Minister, said the investment covers infrastructure development as well as strategic tourism assets, including internationally renowned hotels such as The Westin Desaru Coast Resort, Hard Rock Hotel Desaru Coast, Anantara Desaru Coast Resort & Villas, and The Sireya Desaru Coast by Mandarin Oriental (formerly operated by One & Only Desaru Coast).
“Over the next five years, the development of Desaru Coast will continue to be strengthened through the addition of more hotel rooms, resorts, branded residences and various other tourism facilities,” he said in a parliamentary written reply to a question from Yeo Bee Yin (PH-Puchong), who had asked about the total investment made by Khazanah in Desaru Coast and the financial performance generated.
Anwar said Desaru Coast is also expected to benefit from the implementation of the Johor-Singapore Special Economic Zone, which will further enhance the destination’s competitiveness and regional development.
“Currently, Desaru Coast has created about 1,500 job opportunities, with 98% of them filled by Malaysian citizens.
“Khazanah and DRH remain committed to ensuring that this development provides inclusive benefits to the local community while creating even more employment opportunities in the future,” he added.
As the nation’s sovereign wealth fund, Khazanah has the mandate to invest in long-term developments that support sustainable economic growth, said Anwar.
