Sentoria to develop fourth resort city in Langkawi

PETALING JAYA: Sentoria Group Bhd has secured two parcels of land in Langkawi measuring a total of 120 acres for RM41.38 million yesterday via two lease agreements signed between its subsidiary Sentoria Langkawi Sdn Bhd and Lembaga Pembangunan Langkawi (Lada).
The group said in a statement that the two parcels of land are located in Padang Matsirat (70 acres) and Mukim Ulu Melaka (50 acres). Both parcels carry a lease period of 90 years.
Sentoria plans to develop its fourth resort city in Langkawi to be known as Langkawi Geopark Resort City and expand its business into North Malaysia, which will enhance its future recurring leisure and hospitality income to create sustainable growth.
"Both sites are situated at a very strategic location, enabling Sentoria to develop a premium resort city and medical village which cater for overseas tourists and investors. The development would be synergistic to Sentoria's business and in line with the Langkawi development and tourism plan," it said.
Langkawi Geopark Resort City will be developed on the 70-acre parcel in Padang Matsirat, which is located near the Langkawi International Airport. This will provide easy access to over three million foreign tourists who visit Langkawi annually.
The resort city's components will include a street mall, service suites, corporate suites, water park, hotels, a MICE (meetings, incentives, conferences and exhibitions) centre and a resort mall.
The group said the value of properties to be made available for sales is expected to fetch RM1 billion while the retained properties amount to RM380 million, thus giving the resort city a total gross development value (GDV) of about RM1.38 billion.
On the 50-acre parcel in Mukim Ulu Melaka, Sentoria will develop a medical village to be known as Langkawi Medical Village, comprising a medical training centre, medical tourism centre and housing quarters.
Sentoria will seek strategic investors and partners to carry out this project. It said that medical tourism is not yet part of Sentoria's expertise and this project will enable it to gain access and experience in the sector.
The estimated GDV of the medical village is RM700 million, with RM360 million worth of residential properties to be made available for sale.
"The GDV for the Medical Tourism Center, which amounts to RM315 million will be jointly developed with the right strategic partner. The balance of RM25 million worth of properties (hotel and others) will be retained by Sentoria," it said.
Both projects are expected to kick off in one year's time after receiving all the necessary approvals from the relevant authorities.
Sentoria is a property developer and operator of Bukit Gambang Resort City in Kuantan and Borneo Samariang Resort City in Kuching.
It is also developing an integrated resort city within PNB Development Sdn Bhd's Morib Beach Resort project.