It was reported that Central Malaysia Properties Sdn Bhd (CMP) would embark on a multi-million ringgit waterfront project overlooking the Straits of Johor known as Lido Boulevard, an integrated development project within the Iskandar Malaysia region which was scheduled to be completed by 2016. This flagship project, fully funded by Central Malaysia Properties Sdn Bhd is a joint venture between the former and the Johor State Secretary Inc as the land belongs to the state.
Lido Boulevard is strategically located in Zone A of Iskandar Malaysia and is within close proximity to Johor Bahru’s Central Business District, the Customs, Immigration & Quarantine (CIQ) complex, Johor Bahru’s train station and the Johor Bahru Causeway. Amenities such as shopping, entertainment centres and educational institutions are readily available within the vicinity of the development.
Lido Boulevard is one of the biggest private finance initiatives along the Lido waterfront after the Danga Bay development. The project, located on 49.37ha of land stretching 2.4km along the Tebrau Straits, is estimated to have a gross development value of RM4billion. The site stretches from the now defunct Lot 1 shopping complex to the Harbour Master’s office complex. The company also reported that it would spend RM150 mil over the next two years to upgrade all road infrastructure on site. This included expanding Jalan Abu Bakar (Jalan Skudai) into a dual three-lane carriageway.
The project comprises four main components, viz
waterfront office suites,
a hotel, and
a shopping mall.
Eight office blocks, 6 to 8 storeys high, a 296-room hotel-cum-serviced residences and a 3-storey retail mall which has dual frontage are in the development plan. An international ice-skating rink, a 32-lane bowling alley and a 4,645 sq m (50,000 sq ft) indoor snow park will be incorporated in the mall. Land reclamation works are still in progress along Lido Beach and it will take approximately 24 months to complete.
Besides the reclamation works, the first phase of the development will be the Lido Residences. Lido Residences will be constructed over a piled concrete deck. Divided into 3 sub zones - Parcel A, Parcel B and Parcel C and ranging from 18-26 level high, Lido Residences comprises of 908 units of high end condo with modern and luxurious facilities targeted for niche market. All tower blocks within each respective sub zones are interlinked at the podium and car park levels.
Lido Residences are tastefully furnished with impeccable designs for luxury living, the condo units have built-up areas ranging from 2,459-9,089 sq ft. Discerning home-buyers will be spoilt for choice with the availability of 5 unit types i.e Type A, Type B, Type C, Type D and The Penthouse. Its spacious and modern design, plus posh interior finishes reflect high quality products which mean little or no renovations were required before moving in.
Lido Boulevard is expected to help rejuvenate Johor Bahru and transform it into an exciting city with a myriad of leisure and recreational public facilities when fully completed.