Property developer and leisure resort operator Sentoria Group Bhd announced that it had secured two pieces of leasehold land in Langkawi measuring some 120 acres (48.56ha) for RM41.38 million.
The tracts were secured via two lease agreements signed between its subsidiary, Sentoria Langkawi Sdn Bhd, and Lembaga Pembangunan Langkawi (Lada) last Thursday, and witnessed by former prime minister Tun Dr Mahathir Mohamad, the group said in a statement.
The two parcels of land are located in Padang Matsirat (28.33ha) and Mukim Ulu Melaka (20.23ha) and they carry a lease period of 90 years.
The agreements will pave the way for Sentoria to develop its fourth resort city and enable the group to expand its business to Langkawi, in line with its development and tourism plan.
The company aims to create a premium resort city and medical village to cater to overseas tourists and investors.
The resort city, known as Langkawi Geopark Resort City, will be developed in Padang Matsirat, which is located close to the Langkawi International Airport. The proposed project will include a street mall, serviced suites, corporate suites, water park, hotels, and a meetings, incentives, conventions and exhibitions centre.
The properties to be made available for sale at Geopark Resort City are expected to fetch a value of RM1 billion, while the value of the retained properties amounts to RM380 million, giving the project a total gross development value (GDV) of RM1.38 billion.
The group, meanwhile, plans to develop a medical village in Mukim Ulu Melaka, which will consist of a medical training centre, medical tourism centre and housing quarters.
The group said it is still actively seeking strategic investors and partners to carry out the medical village project and to gain access to the medical sector.
The medical tourism centre itself will have a GDV of RM315 million and the group expects to develop it jointly with its strategic partner.
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