TAR to splash RM1bon Johor theme parks

THEMED Attractions and Resort (TAR) will invest a total of RM1.1 billion to build theme parks in Johor.

TAR, a unit under Khazanah Nasional Bhd, has been given an initial kitty of RM2.3 billion to fund its investments.

A major portion of the developments so far has been in Johor.

“The theme parks just go well with the other things Khazanah is doing here in Johor. It is one of the pieces of the jigsaw puzzle. Over time, we will be looking at other areas but (our current projects) are kind of enough for the moment,” TAR chief executive officer (CEO) Tunku Datuk Ahmad Burhanuddin told Business Times after a media briefing to announce the details of its Puteri Harbour Family Park project in Nusajaya, Johor.

He did say however, that his people are constantly looking out for its next project.

Iskandar Regional Development Authority (IRDA) CEO Datuk Ismail Ibrahim believes that there is still demand for more theme parks and hopes to see them more spread within and near the Iskandar Malaysia area.

It was reported that Johor is likely to be the home of 11 theme parks in the near future. Seven of these theme parks will be owned by TAR.

Besides Legoland, which is due to open in September, Desaru Coast project and Puteri Harbour Family Park, TAR is also working on its Kidzania project in Singapore.

The first Kidzania in Kuala Lumpur is already operational.

Puteri Harbour will require an investment of RM115 million, Desaru Coast RM267 milion while Legoland will take up RM720 million.

Legoland is jointly developed by IDR Resorts and Merlin Entertainments.

A four-level family theme park, Puteri Harbour Family Park is to be unveiled in November this year.

The theme park will feature Lat’s Place, Sanrio Hello Kitty Town and The Little Big Club which features characters like Pingu and Bob The Builder.

 

Source by: Business Times

Picture by : airlineasia

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