LANGKAWI – The RM40 billion Widad@Langkasuka development has received support from former prime minister Tun Dr Mahathir Mohamad after a similar project was shelved when he helmed the Pakatan Harapan (PH) government in 2018.
“This is a good project and the total amount of investment is high, though it won’t come at once but gradually. I was told by the group that they have got an Arab partner who is used to large-scale investments to be involved in the project,” he said after being briefed by Widad Business Group Sdn Bhd (WBG).
Despite his backing for the project, he reminded the developer to look into the environmental impact it may bring.
“Even if reclamation is needed, we must also take care of the environment, and the fate and welfare of the fishermen,” said Dr Mahathir, who is also Langkawi MP.
The mixed development project, which will be helmed by WBG and Dubai-based Bin Zayed International LLC (BZI), will see phase one completed in four years and a groundbreaking ceremony in the second quarter of this year.
WBG and BZI entered into a joint venture agreement on March 7 this year, pursuant to the collaboration agreement signed on March 30, 2021, to set up Widad BZI Sdn Bhd. WBG holds a 70% equity stake in Widad BZI with the remaining 30% belonging to BZI.
The first phase will include clubhouses, a golf club, gated bungalow communities, double-storey houses, condominiums, malls, business complexes, bazaars and a hotel.
WBG will be reclaiming 810ha off Langkawi and has already paid RM4.5 million in commitment fees to the Kedah government.
However, environmentalists were up in arms in 2018 when a similar project was tabled by the late timber tycoon Ting Peh Khiing, which would have seen a reclamation of 81ha.
The PH government at the time shelved the RM30 billion development project and then PM Dr Mahathir reportedly snubbed the planned launch. – The Vibes, May 7, 2022
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