SIBU, Oct 23 — Sibu-based Fullyard Sdn Bhd, will invest RM250 million to develop commercial projects at the Sibu Town Square Two waterfront area facing the confluence of the Rajang and Igan Rivers.
Chief Executive Officer Datuk Sri John KS Lau said piling work was on-going for the construction of some 105 shop units, a 160-room budget hotel, two office towers and a 104-unit condominium.
“Also on the drawing board, at a later stage, is a luxury hotel with 250 rooms,” he told reporters after briefing Sibu Municipal Council Chairman Datuk Tiong Thai King on the project.
The Sibu Town Square Two is owned by the council and is a popular venue for the annual Pasar Ramadan and many fun and trade fairs.
Lau said the project, the Sibu Town Square Commercial Centre, was located on a six-hectare prime land and was the biggest and latest commercial development in the town centre.
He said two hectares of reclaimed land, from the Rajang and Igan Rivers, were also added to the project which would also include beautification and landscape work.
Fullyard would spend over RM20 million to upgrade facilities around the Sibu Town Square Two waterfront which would include a 500 meter long riverwall and promenade.
“The eight meter wide promenade, costing about RM15 million, will include pocket gardens with lush shady trees where the public can jog, walk or rest and enjoy the scenic waterfront sunset of Sibu.
“We will spend another RM5 million to undertake proper sub-soil drainage to prevent the existing turf area around the Sibu Town Square from turning soggy when it rains.
“A skating rind, the first of its kind in a public park, will also be built,”, said Lau, adding that the Sibu Town Square Two would become a very vibrant recreational area after the beautification work is completed in seven months. — Bernama
