Kuala Lumpur, 17 August 2020 — Work on Melaka’s Harbour City is expected to resume after Hatten Land Ltd signed an agreement with Tayrona Capital in a US$323 million transaction. Tayrona Capital will acquire and complete Harbour City as an addition to its Sagana Hotels and Resorts network of 32 hotels/resorts worldwide.
The development is undertaken by Hatten Land’s unit Gold Mart Sdn Bhd. Under the agreement, Tayrona Capital will invest US$23 million for a 99 per cent stake in Gold Mart.
Harbour City is an integrated development that comprises a retail mall, a luxury hotel and an outdoor-indoor theme park. By incorporating these elements of hospitality and entertainment, Harbour City aims to transform Melaka’s tourism landscape.
As a UNESCO World Heritage Site, Melaka is Malaysia’s second-most visited destination after Kuala Lumpur. As the concept originator and project developer of Harbour City, Hatten Land will assign various intellectual property such as project design and concept, domain names, and marketing materials to Tayrona Capital for a consideration of US$60 million.
Meanwhile, Ultra Clean Holdings, Inc. (UCT) will be setting up a manufacturing facility in the Batu Kawan Industrial Park. UCT’s 300,000-square-foot facility is scheduled to begin construction in Q3 2020. The new facility will potentially employ more than 650 personnel over the next five years, including roles in manufacturing, engineering, research and development as well as quality management.
In welcoming UCT’s announcement, YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry, said, “Malaysia has established a strong base of high-value manufacturing companies. The semiconductor industry continues to drive growth by supporting 5G and IoT (Internet of Things) proliferation.”
UCT’s chief operating officer, Vijay Chinnasami, said the company was proud to partner with the Government of Malaysia, in an effort to expand its global footprint as part of the company’s strategic growth plan.
– Construction+ Online