The proposed multi-billion dollar project in Langkawi is set to become a reality.
This is following the signing ceremony between the Malaysian based developer Widad Business Group Sdn Bhd (WBG) with the Dubai based conglomerate, Bin Zayed International LLC (BZI).
On hand to witness the signing ceremony was Prime Minister Tan Sri Dato Muhyiddin Yassin, and Chief Minister of Kedah Muhammad Sanusi at the Bin Md Noor at the Grand Hyatt Kuala Lumpur yesterday.
The mega project to be known as Widad@Langkasuka in Langkawi will comprise of tourism components such as five and six star hotel & resorts, an international golf course located beside the ‘Marina Yacht Club’, an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences.
The Group also plans to organise annual events such as “Redbull Air Race”, “Power Boat Race”, “Jet Ski Race”, international fireworks festivals and other culture & art showcases to promote tourism.
The agreement was signed by Widad Business Group executive director Dato’ Dr Rizal Zayed and International Group Managing Director Sheikh Midhat Kidwai, paving the way for both parties to jointly develop and construct Widad@Langkasuka.
They will also be working together to coordinate with the state government and relevant contractors and consultants concerning the infrastructural development, construction and other works comprising the project.
BZI is part of the Bin Zayed Group of Companies, a conglomerate that specialises in construction and energy, trading and industry, real estate, technology and financial services.
The company was first established in 1988 by Sheikh Khaled Bin Zayed Al Nahyan, a senior member of the Abu Dhabi royal family as well as a prominent business leader and philanthropist in the Gulf states.
Sheikh Khaled holds pivotal positions in several private and public organizations. Currently, he is Chairman of Injaz, a youth-centred non-profit organization, as well as President of the UAE Sailing and Rowing Federation.
He previously served as Chairman of Tamweel, a Shariah-compliant property mortgage and finance corporation and Vice-Chairman of Dubai Islamic Bank.
Currently, almost 90% of the 1,979 acre site consists of the ocean, therefore WBG intends to erect a man-made island which will eventually span approximately 1,000 acres or 50% of the entire area.
The huge project is expected to be completed within 15 to 20 years.