Malaysia – Khazanah to unveil multi-billion ringgit Desaru project
Khazanah Nasional Bhd, Malaysia’s investment arm, will unveil a multi-billion ringgit development in Desaru this year.
According to a StarBiz report, Prime Minister Satuk Seri Najib Tun Razak is expected to launch the project before the start of next year.
To be undertaken by Desaru Development Corp Sdn Bhd (DDC), a wholly-owned subsidiary of Khazanah, the project will see the construction of two world-class hotels to be managed by two of the world’s most decorated hotel management and golf club companies.
Khazanah’s goal is to transform Desaru, located on Johor’s east coast, into a beach-side enclave dotted by large international resorts.
It is also noted that Khazanah’s function is to draw domestic and foreign investors to Desaru to undertake the projects on its own or in a joint venture (JV) with Khazanah.
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