KUALA LUMPUR: Subang Skypark Sdn Bhd is set to embark on a RM420 million ambitious infrastructure development plan to transform Sultan Abdul Aziz Shah Airport, into a full-fledged aerospace city by 2015.
Its executive director Tan Sri Ravindran Menon said the company is planning to utilise between four and 4.8 hectares of land opposite Terminal 3 to build a boutique hotel, an aviation museum and theme park as part of a retail mall.
“We are in the final round of talks with our expert joint-venture partner, a local established player in the retail and hotel industry.
“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 said.
Ravindran said negotiations are expected to be concluded by year-end and works are set to commence in January.
He added that Skypark Nexus, which will be completed in 24 months, is budgeted to cost between RM300 million and RM350 million.
Ravindran said the proposed retail mall and hotel will be between four- and five-storey high and Subang Skypark is now talking to the local government to widen the main roads fronting the proposed development to avoid traffic congestion.
While describing the project as a perfect public- private partnership, he said the cost will be financed through internal fundings and bank borrowings.
“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,” Ravindran said, adding that Subang Skypark Sdn Bhd will invest more than RM70 million to build five new hangars across the current airport runway.
He added the new facilities will elevate Subang Skypark to be on par with other city airports and corporate aviation operators worldwide.
Since most aviation-related corporations headquarters are situated in the surroundings of Subang Skypark, Ravindran said Subang will be better known as an aerospace city in the next three years.
“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.
“There are also plans to establish an aviation technical college, of which Measat Satellite Systems Sdn Bhd is currently looking at that proposal,” he said.
Source: Business Times Dated: 24/08/2012
