KUALA LUMPUR: Tan Sri Vincent Tan's multi-billion ringgit beachfront project Lido Boulevard, thought to be abandoned, will start site mitigation works this week.
It is estimated the entire development will have a gross development value of RM4 billion.
Overlooking the Strait of Johor, Lido Boulevard is an integrated residential and commercial waterfront development that spans 2.4km along the Tebrau Strait coastal line.
The development starts right after the abandoned JB Waterfront City, Lot One, and ends just before the Marine Department.
Little has been heard of the project after a portion of land which had been reclaimed caved in, resulting in the loss of a life in November 2010.
"We had to have a complete revamp after the whole incident. We took a bit more time to be more careful," Central Malaysian Properties Sdn Bhd (CMP) chief executive officer Khoo Boo Teng told Business Times recently.
Post-clean up works, he said there was a need to revisit its design work for, among others, roadworks along Jalan Skudai, the closest point to the coastline.
After a long and tedious process of submitting plans for approval, Khoo says after a fine-tuning of its masterplan, it is all systems go for mitigation works.
This includes rigging out the sea area it will reclaim with silt curtains and sheet piles to ensure that waste and debris, once work starts, do not get into the straits. This procedure will take three to four months to complete.
The project will comprise six parcels: Its high-end condominium towers Lido Residences, a 2.7km long and 10m wide boardwalk, a cultural centre, a hotel and retail mall, office suites and a 1.8ha to 2ha green lung.
The development will stretch 450m into the strait from the coastline.
The initial plans for a 50,000 sq ft snow park is still under consideration, says Khoo.
The development blueprint is based on the theme of a garden city with heavily landscaped garden, water features, park-like facilities and pocket gardens.
Reclamation work is expected to take about two years to complete.
The project is being developed in a joint venture with the Johor State Secretary Inc, an investment holding company of the state government.
Vincent Tan and Johor Crown Prince Tunku Ismail Ibrahim Sultan Ibrahim Iskandar are shareholders in CMP.
-- BUSINESS TIMES