THE RM40 bil Langkasuka megaproject will soon kick start after its co-developer Widad Business Group (WBG) Sdn Bhd awarded a letter of award (LOA) for construction work.
In a statement today, WBG said its wholly-owned subsidiary Langkasuka Land Sdn Bhd awarded the LOA to another wholly-owned WGB subsidiary Widad Builders Sdn Bhd for the construction and completion of earthworks.
The RM40 mil contract consists of the execution and completion of the site clearance and earthworks, retaining wall, environmental protection works and any associated work crucial for the completion of the Langkasuka.
It was offered on Sept 9, 2022, and subsequently accepted on Sept 12.
The construction work is part of Phase 1, with a gross development value of RM4.45 bil, for the master development plan of the Langkasuka.
Set to be a game changer to Langkawi’s tourism and property landscape, the project will commence on Sept 22 and is expected to be completed by July 22, 2023 (just 10 months).
WBG founder and executive chairman Tan Sri Muhammad Ikmal Opat Abdullah said the Langkasuka is one of the group’s biggest projects by WBG and it is their utmost priority to identify the right contractor to undertake it.
This award also signifies WBG’s “first step” in making a project of such magnitude a reality.
“The Langkasuka is a unique project for it is the first-of-its-kind in Malaysia, as well as ASEAN,” he said.
“Reshape tourism landscape”
“It is expected to reshape Langkawi’s tourism landscape to be the preferred destination for international and local travellers while also pushing its property scene to greater heights.
“Besides enjoying the upcoming benefits of the tourism industry, the project will also bring in added value such as job creation opportunities and boost the economic activities of Langkawi,” he added.
The mixed-use development will sprawl across 2,000 acres of man-made islands and be developed in two phases over the course of 15 years.
The first phase will consist of an international standard and tournament-ready golf course by the sea, lush villas and resort homes with elements of Malay architecture, coupled with the panoramic view of a golf course and the majestic Langkawi sunset.
On the retail side, there will also be a shopping mall by the name of Designers’ Brand Mall, a shopping bazaar named The Langkasuka Village, a five-star hotel with views of the Andaman sea as well as high-end condominiums.
The project is being jointly developed by WBG and Dubai-based Bin Zayed International LLC (BZI), with a joint-venture agreement inked on Mar 7, 2022.
Under the agreement, WBG controls a 70% equity interest in the joint company while BZI owns the remaining 30% stake.
BZI is a conglomerate owned by Abu Dhabi royal family senior member Sheikh Khaled Zayed Al Nahyan, whose business interests cover real estate management and residential construction.
WBG, on the other hand, provides calibre Bumiputera contractors to serve the country’s rapid economic growth and development. – Sept 12, 2022
