ID :
41230
Sat, 01/17/2009 - 18:04
Auther :
Shortlink :
https://oananews.org//node/41230
The shortlink copeid
ARAB CITY DELAYED BY BUREAUCRATIC RED TAPE By Salbiah Said
KUALA LUMPUR, Jan 17 (Bernama)- Bureaucratic red tape may force the developer of Arab City, which is designed to be a symbolic gateway connecting Malaysia to the Middle East, to move from its site in Jalan Ampang (Ampang Street) in Kuala Lumpur to southern state of Melaka, which promises a 24-hour approval for the project.
Hesham El Din Fathi Mohamed, Managing Director of Golden Corporate Heritage
Sdn Bhd, said Melaka Chief Minister Mohd Ali Rustam had assured him that the
state would facilitate all procedures for the company to invest in the state.
"He (Ali) told me, anytime you face a problem, you can walk in my office and
my house is also open for 24 hours to fix the problem," the 45-year Egyptian
told Bernama in an interview at his head office here recently.
Incepted six months ago as a joint venture between Dubai, Saudi Arabian and
Malaysian partners, the company has branch offices in Dubai and Saudi Arabia
with diverse interests in real estate, trading and oil and gas business.
Drawn by Ali's investor-friendly approach, Hesham said the company planned
to invest more aggressively in Melaka, with initial investments of RM350
million (US$98.2 million).
"So, any place which gives us a good environment to invest and do projects,
we will go for that. It will not cost the government a single penny to have the
project here. We are paying and all projects will be financed by our company.
So, I wonder why you ( KL authorities) are not helping us enough," he said.
The Melaka government, he said agreed to provide the company with a piece of
land on the riverside, in the heart of the city, to develop the Arab City.
"For Arab tourists, it will be a short distance from the airport and better
than travelling to Penang and Langkawi which will be crowded during the peak
season. We find Melaka a good place given its rich historical background. The
state government really wants to help us."
Hesham said the company was still waiting for approval from the relevant
land authorities for its proposed request for a 33-year lease of the land
located near the Saloma Bistro and the Malaysia Tourism Centre (Matic) here.
It had earlier expected to complete the project by June this year in time
for the Arab summer break.
He said after several meetings, Tourism Minister Azalina Othman took only
two weeks to give the company conditional approval for the project to be located
in Jalan Ampang, which is at the Golden Triangle.
The project, sited a few hundred metres from the iconic Petronas Twin
Towers, will be a retail, business and lifestyle hub with a display of rich Arab
food, culture and tradition in the heart of the city.
He said development cost of the project is estimated at RM35.4 million while
operating cost is over RM150 million. The proposed Arab City enclave, which is
to be equipped with state of the art security systems, will have a two-storey
complex with 337 parking bays.
Among the facilities are an exhibition and convention centre which will host
events throughout the year, ten restaurants, two coffee houses, bakeries and a
supermarket.
The bazaar area will have more than 150 shops of international and local
fashion brands, a multipurpose hall, prayer rooms, beauty salons and a theme
park for families with children.
"The Arab city in Jalan Ampang (Ampang Street) will not just boost tourism
but will also be a dynamic hub for attracting investments."
The project is expected to provide job opportunities for about 1,000
Malaysians while 200 Arabs are expected to run the business.
Hesham said the company expected revenue of RM8.8 million annually from the
Arab City in Jalan Ampang.
With no approvals in sight from the authorities here, Hesham said the
company had no choice but to start the Melaka project ahead of its earlier plan
to have the Arab City in Kuala Lumpur.
"Within seven days from now, I will give my proposal for an Arab City in
Melaka to the state government. Hopefully, I can start my project in Melaka next
month.
"We had hoped to catch the Arab tourists during the Arab summer season in
May or June. What's going on now is, if all approvals (from KL) are not received
by end of this month, and there is no way to catch them (Arabs) in this season,
I would have to take all my attractions (Arab City) to Melaka."
Hesham said more than 1.2 million Arabs come to Malaysia each year to shop
and spend time with their families because of a strong Islamic presence in the
country.
The company has been in a limbo for six months, with overheads and other
expenditure rising. He said todate, RM6 million, including RM3 million for
overhead costs, have been spent with no results.
"We are willing to spend more, willing to be part of the society and to help
brin g business from the Middle East to Malaysia. But just open the door for
us."
(US$1=RM3.56)
Hesham El Din Fathi Mohamed, Managing Director of Golden Corporate Heritage
Sdn Bhd, said Melaka Chief Minister Mohd Ali Rustam had assured him that the
state would facilitate all procedures for the company to invest in the state.
"He (Ali) told me, anytime you face a problem, you can walk in my office and
my house is also open for 24 hours to fix the problem," the 45-year Egyptian
told Bernama in an interview at his head office here recently.
Incepted six months ago as a joint venture between Dubai, Saudi Arabian and
Malaysian partners, the company has branch offices in Dubai and Saudi Arabia
with diverse interests in real estate, trading and oil and gas business.
Drawn by Ali's investor-friendly approach, Hesham said the company planned
to invest more aggressively in Melaka, with initial investments of RM350
million (US$98.2 million).
"So, any place which gives us a good environment to invest and do projects,
we will go for that. It will not cost the government a single penny to have the
project here. We are paying and all projects will be financed by our company.
So, I wonder why you ( KL authorities) are not helping us enough," he said.
The Melaka government, he said agreed to provide the company with a piece of
land on the riverside, in the heart of the city, to develop the Arab City.
"For Arab tourists, it will be a short distance from the airport and better
than travelling to Penang and Langkawi which will be crowded during the peak
season. We find Melaka a good place given its rich historical background. The
state government really wants to help us."
Hesham said the company was still waiting for approval from the relevant
land authorities for its proposed request for a 33-year lease of the land
located near the Saloma Bistro and the Malaysia Tourism Centre (Matic) here.
It had earlier expected to complete the project by June this year in time
for the Arab summer break.
He said after several meetings, Tourism Minister Azalina Othman took only
two weeks to give the company conditional approval for the project to be located
in Jalan Ampang, which is at the Golden Triangle.
The project, sited a few hundred metres from the iconic Petronas Twin
Towers, will be a retail, business and lifestyle hub with a display of rich Arab
food, culture and tradition in the heart of the city.
He said development cost of the project is estimated at RM35.4 million while
operating cost is over RM150 million. The proposed Arab City enclave, which is
to be equipped with state of the art security systems, will have a two-storey
complex with 337 parking bays.
Among the facilities are an exhibition and convention centre which will host
events throughout the year, ten restaurants, two coffee houses, bakeries and a
supermarket.
The bazaar area will have more than 150 shops of international and local
fashion brands, a multipurpose hall, prayer rooms, beauty salons and a theme
park for families with children.
"The Arab city in Jalan Ampang (Ampang Street) will not just boost tourism
but will also be a dynamic hub for attracting investments."
The project is expected to provide job opportunities for about 1,000
Malaysians while 200 Arabs are expected to run the business.
Hesham said the company expected revenue of RM8.8 million annually from the
Arab City in Jalan Ampang.
With no approvals in sight from the authorities here, Hesham said the
company had no choice but to start the Melaka project ahead of its earlier plan
to have the Arab City in Kuala Lumpur.
"Within seven days from now, I will give my proposal for an Arab City in
Melaka to the state government. Hopefully, I can start my project in Melaka next
month.
"We had hoped to catch the Arab tourists during the Arab summer season in
May or June. What's going on now is, if all approvals (from KL) are not received
by end of this month, and there is no way to catch them (Arabs) in this season,
I would have to take all my attractions (Arab City) to Melaka."
Hesham said more than 1.2 million Arabs come to Malaysia each year to shop
and spend time with their families because of a strong Islamic presence in the
country.
The company has been in a limbo for six months, with overheads and other
expenditure rising. He said todate, RM6 million, including RM3 million for
overhead costs, have been spent with no results.
"We are willing to spend more, willing to be part of the society and to help
brin g business from the Middle East to Malaysia. But just open the door for
us."
(US$1=RM3.56)
