PETALING JAYA: Melaka Gateway developer KAJ Development Sdn Bhd (KAJD)’s RM43 billion mega project is back on track, following support and approvals from the state and federal governments.
In a statement, the company said that Melaka Gateway's revival has gained traction as a result of the involvement of new shareholders and investors, as well as the formation of a dynamic leadership team.
As a result, it added that the team is eager to get started on the project and will launch a rebranding campaign in line with its initiatives to transform Melaka into a thriving tourist destination by capitalising on its historical significance as a major trading port.
The gateway’s infrastructure development has resumed with the construction of Melaka International Cruise Terminal (MICT). As the only international cruise jetty with exclusive operating rights from the Melaka state government, KAJD's MICT will be the sole entry point for international cruise and ferry traffic into the state.
Upon completion, MICT will be able to accommodate cruise ships, bringing an estimated 3.5 million tourists to the gateway annually.
The arrival of these cruise ships will have a significant impact on Melaka's development and is expected to boost tourism in the area and further establish the state as one of the world's most popular tourist destinations, which would in turn benefit the local economy.
Meanwhile, chairman Datuk Daing A. Malek Daing A. Rahaman expressed his gratitude towards the federal and Melaka state governments for their support.
“Their assistance in revitalising this project has instilled new strength into the project’s trajectory.
“Through our collective efforts, we have been successful in fostering renewed confidence among our shareholders. We look forward to working collaboratively with all parties involved,“ he said.
In addition, strategic development director Datuk Mircle Yap remarked that the gateway incorporates green initiatives to deliver economic potential, with a new focus on sustainability as well as environmental, social and governance.
With the project, he said that it is poised to shape a sustainable and promising future for all, with up to 45,000 new jobs expected to be created by 2032.
Furthermore, he said that the cruise ships are anticipated to bring in an average spending of US$200 per person, once the MICT is completed and operating at full capacity.
He added that passengers tend to spend significantly more, which will benefit the local economy and tourism industry. Yap said that the proximity to international airports in places like Melaka for cruise terminals is a strategic advantage.
“This contribution is expected to bring an estimated RM3.2 billion per year into the country, bolstering the local economy and cementing Melaka Gateway’s position as a key player in the country’s tourism sector. This is a promising development for Melaka as well as Malaysia as a whole, and it underscores the importance of the tourism sector as a driver of economic growth,“ said Yap.
Melaka Gateway is a multi-sector development ecosystem that includes tourism, hospitality, lifestyle, education, healthcare, residential and commercial sectors. The first island will serve as the focal point of the initial phase of development, with the goal of becoming a popular tourist destination. There will be elements of UNESCO World Heritage Sites, a floating restaurant on the Cheng Ho Treasure Ship, the MICT as well as a congregation of international festivals and celebrations.
