Malaysia-based Tradewinds Corporation, a company chaired by Dubai businessman and Emaar chairman Mohamed Alabbar and backed by The Albukhary Group, has launched a new Dhs4.5 billion ($1.2 billion) project in the Southeast Asian country.
The development, called Perdana Quay, will be located in Langkawi and is the Malaysian island’s first-ever integrated leisure, retail, residential and commercial development, a statement said.
Located on the island’s north-western corner facing the Andaman Sea, Perdana Quay is spread across 240 acres of land, and will be developed into five components, including waterfront holiday villas and lake homes.
Aimed at tourists from Asian countries like China, Singapore and the Middle East, the project will be developed over 10 years in six phases.
The first phase of the project includes The Burau Langkawi, a luxury resort that is expected to be completed by end-2017. It will feature 245 deluxe rooms and 60 luxury villas including 26 ultra-luxury villas on Pulau Anak Burau.
The wider Perdana Quay will aim to resemble resort destinations such as Malibu, the Maldives and Monaco, the statement added.
It will attract tourists and investors and create new jobs, support local industries and strengthen the tourism sector, said Alabbar.
Tradewinds Corporation currently owns luxury resort properties across Malaysia, which are operated by brands such as Hilton, Istana, Mutiara and Meritus.