Gold Coast Resort Living Only 2 Hours Drive From Singapore

Malacca is NEXT to Sepang and Malacca is where the Arab City is.

http://eyeonmalaysia.wordpress.com/2010/02/22/malacca-sepang-gold-coast/

Situated a short distance from the Kuala Lumpur International Airport in Sepang lies the laidback coastal area of Bagan Lalang where, on a fine day, the sea laps gently against the shore and beach-goers enjoy the quiet and slow pace of life. This is the location of the Sepang Gold Coast (SGC) development.

SGC is developed by Sepang Goldcoast Sdn Bhd, a 70:30 joint venture between Permodalan Negeri Selangor Bhd and Sepang Bay Sdn Bhd (Sepang Bay). The latter is the local subsidiary of Indonesian property development company Istana Group. The entire SGC project, covering 22km of coastline, is estimated to have a gross development value (GDV) of about RM3 billion, and is slated to be completed in 15 years.

City & Country had the opportunity to take in the vista of its first project in Phase One — the Golden Palm Sea Villas. This gated development  stretches about a kilometre into the Straits of Melaka.




Traversing the sea
To get to the Golden Palm Sea Villas, golf buggies ferry visitors to the showhouses, which showcase a resort-like interior with alang-alang roofing imported specially from Bali. Sold as an investment resort property, the sea villa investment package has two options — own use or leaseback. For the former, owners have to pay a maintenance fee and contribute to a sinking fund.

As for the leaseback option, buyers will have their property managed and operated by international hotel operator Swiss-Belhotel International as a bona fide five-star accommodation. Swiss-Belhotel International manages several hotels in the region, including China, Australia and New Zealand. As for returns on their investment, owners will receive a rental return based upon the purchase price of about 8% nett for the first two years.

“The leaseback arrangement is for 15 years. From the third year onwards, the returns will be based on the occupancy rate. Swiss-Belhotel has indicated with confidence that it can bring at least 8% to 12% returns to investors,” shares Steven Yap, Sepang Goldcoast Sdn Bhd’s head of sales and marketing. All the maintenance charges and contributions to the sinking fund will be borne by the developer.

At the moment, the take-up rate of the 366 units is over 90%, with 85% of buyers choosing the leaseback option. Overseas buyers make up the bulk of owners mainly from the UK and Dubai. Unit sizes vary from 570 to 2,422 sq ft, with prices ranging from RM571,815 to RM2,500,696.

The development is modelled after the Palm in Dubai; the only significant difference is that the Golden Palm Sea Villas are built on stilts and not reclaimed land. Inside all the units, which come fully furnished, are fixtures and fittings tastefully selected for the resort feel, aided by the alang-alang roofs. The units do not have any cooking facilities to eliminate fire hazard, especially since the roofs are made of alang-alang (thatched roofing).

Adjacent to the Golden Palm Sea Villas resort is a leisure and recreational area called the Open Resort, which blends the best of resort and residential living. Exact details are still sketchy as plans are yet to be finalised. However, what is certain is that it will be for members only and residents of the resort.
The Golden Palm Sea Villas’ GDV is RM315 million and it is slated to be completed at end-2009. Swiss-Belhotel takes over the reins in January 2010.


Moving ahead
The original plans for project No 2 of Phase One were for a serviced apartment block on seven acres called Sea Tropics Village, but the developer is now redrawing and upgrading its plans and concept for the site. “The reason for the change is that we have come up with a superior development concept hatched from a recent prolonged brainstorming session. This concept embraces a resort holiday yet home lifestyle, which was pioneered by Club Med International. We want to go beyond what Club Med has to offer. That’s why we are prepared to revamp the entire Sea Tropics concept to bring together a rich variety of new features, which both local and foreign investors will find it hard not to invest,” says Ho Hok Seng, president of Sepang Goldcoast Sdn Bhd.

Isa Bella Lin is a Singaporean Peranakan with roots originating in Malacca, Singapore, Indonesia and China.
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Arab City Melaka To Cost More Than RM1 Billion

MELAKA, April 28 (Bernama) -- Arab City Melaka, the integrated commercial project in the state, will cost over RM1 billion, with construction expected to be completed in the first quarter of next year, its developer announced today.

Hesham Fathi Mohamed, Managing Director of Golden Corporate Heritage Sdn Bhd (GCH), the developer, said the project covering 46.9 acres (18.76ha), is located in three areas -- Pulau Melaka, Klebang and Kampung Jawa.

He was speaking to reporters after the ground-breaking of Arab City Melaka, a joint-venture between the Melaka state government and GCH, at Pulau Melaka here.

Also present were Melaka Chief Minister Datuk Seri Mohd Ali Rustam and GCH chairman Sheikh Saleh Mansor.

Hesham said the whole Arab City project was initially estimated to cost RM400 million.

He said phase one of the project, costing RM250 million, will be developed into an integrated and comprehensive development, which included shopping bazaars, Arabic-themed restaurants, cafes and Arabic health and beauty spas.

At the ceremony, both the state government, represented by Ali signed an agreement with GCH to develop phase two of the project in Klebang, which is tipped to be a new landmark for tourism in Melaka.

Today marks the beginning of piling work for the first phase of the Arab City in Pulau Melaka, which, according to Hesham, is due for completion within five weeks.

Hesham said the project was scheduled for completion by year-end, with the Arab City project, sited on a 4.2 acre (1.68 ha) site, in Pulau Melaka expected to open for business by 2010.

He said Klebang, the second phase of the Arab City project, will be a mixed development, comprising a five-star hotel, an aquarium, health resort and water sports club.

"We will provide the development plan within three months from now to the state government, with investments expected to cost more than RM1 billion," he said.

Both the state government and GCH today signed an agreement to develop the Arab City project in Klebang sited on a 36.2 acre (14.48 ha) area.

At the press conference, Hesham said he had received numerous enquiries from foreign companies intending to rent or sell the facilities provided at the city.

However, the company, which mooted the Arab City concept, would retain the Arab concept, with only Arab brands under its roof, with no opening for fast- food giants such as McDonalds or Kentucky Fried Chicken (KFC), he said.

The third phase of the Arab City will comprise an Arab Village on a 6.5 acre site (2.6ha) in Kampung Jawa, he added.

GCH's Shaikh Saleh, at the press conference, said Malaysia offered a conducive climate for foreign investments, especially from Gulf nations, citing the Arab City project in Melaka, as an example.

In his speech, Mohd Ali described the Arab City project as a significant and important investment, especially during the current economic slowdown.

He is confident the project would succeed and generate the expected returns and revenue, which would in turn benefit the investors, the state, tourists and the Melaka people.

-- BERNAMA