Mega development announced for state of Malacca in Malaysia

Proving development in Asia is robust, a master plan has been unveiled for a waterfront development in Malacca, is said to be Southeast Asia's largest cluster of islands, which will feature a luxury hotel, international cruise terminal, a theme park and the Malaysia Eye.

The 607-acre Melaka Gateway project by KAJ Development will comprise one natural and two man-made islands with an estimated gross development value of $12 billion.

Said Malaysian prime minister Mohd Najib Tun Abdul Razak, who unveiled the plan: “Melaka Gateway is a ground-breaking and innovative tourism product that complements the government’s tourism ambitions. This development is projected to attract an additional 2.5 million tourists over the next 12 years with high-yield consumers expected to contribute substantially to the tourism earnings of Malaysia.”

The develpment is expected to be completed by 2025. The more than 80-story Gateway Beacon Tower will be home to a "seven-star hotel" and condominiums.