ECER: Attracting Investments In Kuala Terengganu City Center

Transforming the landscape and property market scene in the state capital of  Terengganu

 The East Coast Economic Region Development Council (ECERDC) is a statutory body established to spearhead the socio-economic development of the East Coast Economic Region (ECER).

The ECER of Malaysia covers Kelantan, Terengganu, Pahang and the district of Mersing in Johor. It occupies an astonishing area of 66,000 sq km or 51% of the total area of Peninsular Malaysia. ECERDC plays the lead role in setting directions, formulating policies and developing strategies for the socio-economic development of ECER by promoting and facilitating investments into the Region.

One of the key ECER projects being implemented by the ECERDC is the development of Kuala Terengganu City Centre (KTCC), which is expected to attract a total investment of RM5bil and it is expected to create over 10,170 jobs in various sectors.

The KTCC development will not only attract investors from within and outside the country, but will also benefit the people of Terengganu in terms of job creation and entrepreneurship opportunities. KTCC project components, which will be developed in phases, include integrated lifestyle centers, KTCC Mall shopping complex, serviced apartments, hotels, retail/office lots and education centres. Healthcare Wellness Village and a cruise ship point will also be developed at KTCC, making it an ideal choice for retirees and expatriates.

Similar to Penang, Terengganu also offers beautiful beaches and is well-known for its coral-ringed islands, but the state has the comparative advantage of lower living cost and a more relaxed pace of life. All these are expected to boost the position of Kuala Terengganu as Heritage Waterfront City, in line with the State Government’s vision.

The KTCC Mall, for example, will become a new landmark in Kuala Terengganu, where it will offer 200 retail lots, a 10-screen Cineplex, and a 48-lane bowling alley which will be the first of its kind in Kuala Terengganu. The KTCC development will not only create employment and entrepreneurial opportunities for people in Kuala Terengganu, but it will also enable local residents to shop and perform leisure activities with the family in comfort. The headquarters of Kuala Terengganu City Council and the State Foundation building will also be built in this KTCC area.

 

THE KTCC DRAWBRIDGE

The construction of the KTCC Drawbridge, which will have direct connection to Kuala Terengganu International Airport, will play a pivotal part in promoting in the tourism industry in the state in particular, and ECER in general.

ECERDC has also conducted a detailed study on the homestay programme in ECER, whereby the matter is now being pursued by the Ministry of Tourism and Culture.

Having an improved and efficient direct accessibility and connectivity into Terengganu will allow development to thrive in a more viable manner, which in turn, will attract further investments into ECER. Terengganu’s current limited accessibility has been identified as a major challenge faced by the State.

“In the same development, Kuala Terengganu will be transformed into a Heritage Waterfront City with the construction of a new bridge linking the north and south of this water city. This state initiative, initiated in September 2014, is expected to be completed in 2016. The new administration centre in Padang Nenas for Kuala Nerus is newly formed and is expected to be a catalyst for future development in nearby areas,” said Dato’ Seri Ahmad Razif, Chief Minister, Terengganu.

The drawbridge connects Muara Utara to Kuala Terengganu’s Central Business District (CBD) and its surrounding areas of Muara Selatan. The construction commenced on 13 August 2014 and is expected to be completed by March 2017.

This bridge is designed to ease traffic within the city core in addition to stimulating the city’s connectivity and future growth.The completion of the KTCC Drawbridge will reduce the travelling time from Kuala Terengganu’s Sultan Mahmud Airport to the City’s Central Business District. Moreover, its completion is expected to promote a vibrant and robust economic growth within the CBD area through job creation and business opportunities from tourism, commercial and industrial activities. The development of retail offices, residences and hotels will definitely boost the economy for the people of ECER as well as the state of Terengganu.

INFRASTRUCTURE DEVELOPMENTS BY ECER

The construction of Bukit Kuang Bridge in Kemaman was completed by ECERDC in November 2014. The bridge connects Teluk Kalong with Chukai town and it has helped improve the traffic flow within the area and will play an important role in the development of the ECER Special Economic Zone (ECER SEZ).

East Coast Expressway Phase 2 (LPT2) is an expressway between connecting Kuantan to Kuala Terengganu (KT), where it would reduce travel time between Kuala Lumpur and Kuala Terengganu from seven hours to an astounding four hours.

It is part of the East Coast Expressway development which includes East Coast Expressway Phase 1 (LPT1) from Karak to Kuantan and East Coast Expressway Phase 3 (LPT3) from Kuala Terengganu to Tumpat, which will connect to the Thai border at Pengkalan Kubor.

This transportation network is one of the main transportation and logistics initiatives within ECER undertaken by the government.  The implementation of the Expressway is in line with the corridor development plan under the ECER Master Plan and provides internal transportation and connects the provinces to generate the development of economic activities in rural areas.

It is expected to support the development in Terengganu as the network cuts through ECER linking it to growth areas in the West Coast.

The Government is also looking at the possibility to implement the East Coast Rail Link (ECRL) project in the future, which would further enhance the Region’s transportation network.

The East Coast Economic Region (ECER) offers various investment opportunities to property investors who are keen to leverage on the Region’s rich resources and natural assets, such as pristine beaches and coral-ringed islands, particularly in the areas of sustainable, integrated tourism development.

The on-going development of Kertih petrochemical cluster, Kertih Biopolymer Park (KBP) and Kemaman Heavy Industry Park (KHIP) within the ECER Special Economic Zone (ECER SEZ) will definitely attract a concentration of both foreign and local investors. Hence, the property market should be ready and able to meet the needs and lifestyle requirements of this group.

Property Insight reached out to Terengganu Chief Minister, Dato’ Seri Ahmad Razif Abdul Rahman and this is what he had to say.