KUALA LUMPUR (May 30): GoucoLand (Malaysia) Bhd is to develop the world-class Sepang International City (SIC), which will have a gross development value (GIC) of RM48 million.
In a statement on Wednesday, GoucoLand — which is the property arm of the Hong Leong group — said the 4,000 acres of seafront development would include commercial, business, residential and leisure developments, a hub for institution of higher learning and a world-class urban park.
It said the development was projected to take up to 20 years to be fully developed.
"It will be supported by world-class infrastructure, including direct transport links to Kuala Lumpur International Airport, the federal capital and other major points in Greater KL and the Klang Valley," it said.
GuocoLand said that SIC was expected to contribute about RM19 billion to Malaysia's Gross National Income (GNI) and create about 50,000 jobs by 2020.
This will be the company's second Entry Point Project, under the Greater KL/Klang Valley NKEA.