Consortium Zenith inked RM15b wellness resort deal in Penang

Penang Chief Minister Lim Guan Eng (centre) looking at a model of the proposed Wellness City of Dreams. — Picture by Opalyn Mok
Penang Chief Minister Lim Guan Eng (centre) looking at a model of the proposed Wellness City of Dreams. — Picture by Opalyn Mok

GEORGE TOWN, Aug 13 — A RM15 billion Wellness City of Dreams is set to be built in Bandar Tanjong Pinang after Consortium Zenith BUCG Sdn Bhd signed a memorandum of understanding with Ewein Zenith Sdn Bhd today.

The multi-billion project, on a 50 acres piece of land, is expected to be fully operational by December 2020.

The project is part of a land swap deal given to Consortium Zenith by the state government in exchange for constructing the RM6.3 billion Penang undersea tunnel and three major bypasses on the island.

“The main focus now is in starting construction of the three highways first as that is one of the requirements under the deal,” said Consortium Zenith BUCG chairman Datuk Zarul Zulkifli.

All necessary reports including the environment impact assessments for the highways are expected to be completed soon.

“Once we get the necessary approvals after the reports are completed, hopefully by the end of this year, we will start work early next year,” he said in a press conference after the signing ceremony at G Hotel today.

Zarul said the planned wellness resort is expected to contribute RM2.5 billion to the Gross National Income of Penang and provide an estimated 10,000 employment opportunities upon completion.

“We will not start the project for the wellness resort yet as the state is yet to handover the land to us until we start work on the highways,” he said.

The Wellness City of Dreams is a mall for healthcare, retirement homes and alternative medical care which included a halal wing for Muslim patients.

Zarul said the growth in the medical tourism is very promising with Malaysia drawing in 800,000 medical tourists last year with a nett revenue of almost RM800 million.

The wellness resort will be able to spur the sector further, particularly in the northern region, he added.

Consortium Zenith is a joint venture between Zenith Construction Sdn Bhd, China Railway Construction Co Ltd, Beijing Urban Construction Group, Sri Tinggi Sdn Bhd and Juteras Sdn Bhd.

They were awarded the undersea tunnel and three highways project in 2013.

The infrastructure project includes a 6.5km undersea tunnel, a 12km paired road between Tanjung Bungah and Teluk Bahang, a bypass each between Air Itam and the Tun Dr Lim Chong Eu Expressway, and between Gurney Drive and the expressway.

Ewein Zenith is a 60 per cent owned subsidiary of Ewein Bhd’s unit Ewein Land Sdn Bhd and 40 per cent owned by Consortium Zenith.