INSIGHTS
Sibu-based Fullyard will invest US$7.9 million (RM 250 million) in developing commercial projects at the waterfront of Sibu Town Square Two, located on 6-hectare prime land, facing the confluence of the Rajang and Igan Rivers. Datuk Sri John KS Lau, CEO of Fullyard, said piling work for the construction of 105 shop
Malaysia invests $8M in Sibu waterfront
Date: 2013/10/24
Source: The Star
Sibu-based Fullyard will invest US$7.9 million (RM 250 million) in developing commercial projects at the waterfront of Sibu Town Square Two, located on 6-hectare prime land, facing the confluence of the Rajang and Igan Rivers.
Datuk Sri John KS Lau, CEO of Fullyard, said piling work for the construction of 105 shop units, a 160-room budget hotel, two office towers and a 104-unit condominium is already underway. “Also on the drawing board, at a later stage, is a luxury hotel with 250 rooms,” Lau said. Part of the investment — $6.3 million — has been earmarked to upgrade facilities around the Sibu Town Square Two waterfront, with a 500-meter long river wall and promenade.
The Sibu Town Square Two is owned by the city council and is a popular venue for the annual Pasar Ramadan and many other fairs. The project is expected to be completed in seven months.