Malaysian property developer Landmarks Berhad plans to spend up to $3.5 billion on its Bintan Treasury Bay project in Indonesia’s Kepulauan Islands province over the next 10-12 years, with an initial investment of $650 million, said CEO Paul Leong.
Landmarks will begin development of a resort hotel, amusement park, mangrove eco park and wellness resort on a 90-hectare site in the fourth quarter of this year, and expects to complete the project in 2017. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)