Malvest Group, Lagenda Tunjong to develop RM1.2 bil Tunjong Commercial Hub in Kelantan

• The commercial hub will encompass a hospital, medical mall, hotel, prime office building, convention centre, commercial retail units, service residences and a recreational park where Malay Traditional Culture and Islamic elements will be introduced in the design of the development

KOTA BHARU (Aug 28): Developer Malvest Group has inked an MoU with Lagenda Tunjong Sdn Bhd to jointly develop the Tunjong Commercial Hub in Bandar Baru Tunjong, Kota Bharu, Kelantan.

Both Malvest Group and Lagenda Tunjong Sdn Bhd will develop the “brand new” commercial hub that will encompass a hospital, medical mall, hotel, prime office building, convention centre, commercial retail units, service residences and a recreational park where Malay Traditional Culture and Islamic elements will be introduced in the design of the development, stated Malvest in a media release.

Located on land area of approximately 23 acres, Tunjong Commercial Hub is expected to have GDV of RM1.2 billion and will take eight to 10 years for overall development.

The MOU was recently signed on Aug 15 by Lagenda Tunjong executive chairman Tuan Haji Ahmad Zakie Hj Ahmad Shariff and managing director of Malvest Group Tan Kian Boon.

Malvest Group also stated in the media release that it “is confident that the soon to be completed East Coast Rail Link (ECRL) project, which is the key catalyst for Kelantan's future development, especially when the Tunjong ECRL station is completed, will make Bandar Baru Tunjong the main business activity centre in Kelantan”.

Datuk Ar Aminuddin Abdul Manaf, chief executive officer of Lagenda Tunjong said “Lagenda Tunjong Sdn Bhd has secured a prominent women and children specialist hospital to setup its new hospital and is currently in discussion to bring in an international hotel brand to this development”. He is also confident that collaboration with Malvest Group, who has strong presence in property development in Kelantan since 1990s, will “certainly bring success to the development”.

“The joint venture with Lagenda Tunjong Sdn Bhd is indeed timely. New ideas and concept will be introduced in this development as this is touted to be another new breakthrough development in Kelantan. It is also our vison that our developments will spur up the economy to benefit the local communities through generating business activities, job opportunities as well as investment return to our buyers,” said Tan.

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