Subang Skypark Sdn Bhd plans to refurbish the former Sultan Abdul Aziz Shah Airport, currently known as Subang Skypark, into an aerospace city by 2015.
Tan Sri Ravindran Menon, Executive Director at Subang Skypark, said the company intends to embark on a RM420 million infrastructure project and use between four and 4.8ha of land opposite Terminal 3 to build a retail mall with an aviation museum, theme park and a boutique hotel.
"We are in the final round of talks with our expert joint-venture partner, a local established player in the retail and hotel industry," said Ravindran.
"The development named Skypark Nexus will have an approximate built-up area of one million square feet and will rejuvenate the airport's branding as well as enhance the wholesomeness of customer experience in the airport and its surrounding areas."
He added that negotiations will likely be finalised by year-end and initial works are set to start in January. He noted that the project will cost between RM300 million and RM350 million and will be financed through bank borrowings and internal fundings.
"The special aspect in the development is that there will be a bridge linking the mall and the terminal building - a concept rarely seen in any other city airports worldwide," said Tan.
"We want to be a fine example to Malaysia Airports on how to develop a city airport. This place will surely boom in years to come as all aviation-related investments will come to this area."
For the latest property news, trends, resources and expert opinions, visit our Property News section. Home buyers, sellers or property renters looking for Malaysian Properties, may like to visit http://www.propertyguru.com.my today.