Penang welcomes RM15 bil wellness resort city

GEORGE TOWN (Aug 14): Ewein Zenith Sdn Bhd is partnering with Consortium Zenith BUCG Sdn Bhd (CZBUCG) to develop the Wellness City of Dreams at Bandar Tanjong Pinang, Penang  according to a report in the digitaledge Daily today.

Ewein Zenith is a joint venture between Ewein Land Sdn Bhd and CZBUCG, which owns 40% of shares in Ewein Zenith. Ewein Land Sdn Bhd is a wholly-owned unit of Ewein Bhd, which holds the remaining 60% in Ewein Zenith.

The 50-acre (20.23ha) Wellness City of Dreams has a gross development value (GDV) of RM15 billion. The project will feature a resort-styled development comprising a wellness mall for healthcare, retirement homes and alternative medical care.

Wellness City of Dreams development will comprise Ewein Zenith’s RM800 million City of Dreams serviced apartments, which features two blocks of 38-storey towers.

Ewein managing director Datuk Ewe Swee Kheng said it has received overwhelming response for the project to-date.

“We have 572 units available, but (received) registered interest from 1,500 potential buyers. We hope to be able to achieve a 100% take-up rate for our development,” said Ewe after the signing of a Memorandum of Understanding (MoU) between Ewein Zenith and CZBUCG yesterday.

The Wellness City of Dreams development is part of a land swap deal given to CZBUCG by the Penang state government for constructing the Penang undersea tunnel and three major roads worth RM6.3 billion.

“Our first priority is to start work on the three major highways in the first quarter of next year, which we believe will alleviate traffic congestion and promote increased trade and travel between Penang and the mainland, especially the Northern Corridor states,” said CZBUCG chairman Datuk Zarul Ahmad Mohd Zulkifli (pictured).

The proposed three highways are the Air Itam to Lebuhraya Tun Dr Lim Chong Eu highway, the 12km paired-road from Tanjung Bungah to Teluk Bahang and the 4.2km bypass between Gurney drive and Lebuhraya Tun Dr Lim Chong Eu, along with the 6.5km undersea tunnel.

These highways are due for completion in 2025.

Zarul said the Wellness City of Dreams project will contribute RM2.5 billion to Penang’s gross national income, and by extension the rest of the country. It will also create an estimated 10,000 jobs.