South Oceans, Kairos & Dashen Resources

PETALING JAYA (Nov 17): Malaysian and SIngaporean-owned Kairos & Dashen Resources (Rompin) Bhd is looking for developers and hotel and theme park operators to jointly develop its South Oceans beachfront mixed-use development in Kuala Rompin, Pahang.

Kairos and Dashen Resources (Rompin) director Datuk Seri Michael Yong said the South Oceans development spans 2,000 acres of commercial land on the Malaysian east coast and will consist of residential, commercial and entertainment components.

The project will be the world’s largest eco-oceanfront development upon completion, said Yong.

“The development will have six phases, and take seven to 10 years to complete. We are in talks with quite a number of potential developers and operators, and we expect to launch the first product in the second half of next year,” he told the reporters after unveiling South Oceans project today.

However, Yong declined to reveal the identities of the parties they were speaking to or the nature of the joint venture agreement they were seeking.

He said the development has an estimated gross development value (GDV) of RM2.75 billion and could generate other business opportunities worth RM8.25 billion during the construction process.

South Oceans will consist of residential units, shop houses, a 1,000-room hotel, wellness centre, and water and forest theme parks.

The 2,000-acre land parcel includes 5.5 km of private beachfront with panoramic views of the ocean and mangrove forest, enabling the company to build properties on the beachfront and near the forest.

Yong said the initial plans outlines twelve themed zones, including a seaplane airport terminal with flight deck, wellness centre, residential area, private marina, Peter Pan theme park, 20-acre water park and 800-acre Jumanji adventure park with jungle elements for family tourists. The Jumanji theme park is expected to start operations in 2018, he said.

For the residential component of the project, the company plans to build 5,000 units of villas and bungalows over 600 acres with an estimated selling price of RM500,000. Sixty percent of the buyers are expected to be Malaysians, 30% Singaporeans and 10% other nationalities.

Yong added that about 300 acres of land will be allocated for commercial development, comprising 500 single-storey shop houses.

Kairos & Dashen Resources will own and operate South Oceans. The shareholders and directors of the company include Singaporeans Rosalind Foo and Joyce Tan.

Yong is also founder and managing director of Funtasy Island Development Pte Ltd, which developed Funtasy Island in Riau, Indonesia. The S$900 million Funtasy Island project comprises residential developments, a shopping street, a marina, five-star hotels and convention facilities.

He says the company will be handing over phase one of its residential development – 100 two-storey water villas – to buyers by year-end.

 

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