Monday, April 23, 2007

Wealthy Arabs to make Langkawi second home

This beach in Langkawi could soon be the playground of affluent Arabs.
This beach in Langkawi could soon be the playground of affluent Arabs.

A number of Arab millionaires will soon be calling Langkawi their second home.

"A company from the United Arab Emirates has approached us to build bungalows on the island for rich Arabs who want to make Langkawi their second home.

"We are very happy to accommodate them and have already identified a 60ha spot for the project," said Menteri Besar Datuk Seri Mahdzir Khalid.

He said this after chairing the Yayasan Islam Kedah (YIK) annual general meeting yesterday.

He did not reveal the location, only saying that the property is co-owned by the state government and the Langkawi Development Authority.
The bungalows will cost between RM2 million and RM5 million each. The company also plans to build a marina.

"This project will help boost Langkawi’s image as a prime holiday destination."

Mahdzir said that in return, UAE businessmen promised to invite several state-owned companies to take part in their country’s development projects.

Earlier, Mahdzir said YIK had allocated RM600,000 this year for scholarships and loans for those studying locally and overseas.

Five medical students and 30 pursuing Islamic studies in Egypt and Jordan will be financed.

"We will also provide study loans for 33 students of Kolej Universiti Insaniah here."

Source : NST
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