OPen Road Asia Sdn Bhd (ORA) and Permodalan Kedah Bhd (PKB) today announced the creation of a joint venture (JV) to build the OPen Road International Circuit (ORIC) & Integrated Resorts (IR) on the resort island of Pulau Langkawi, Malaysia's premier tourist and motorsports destination.
The ORIC will be built on a 183-acre plot of sea-facing land in Bukit Malut, and will feature an FIA-sanctioned motorsports circuit.
The IR will be a fully integrated resort with luxurious residential properties, retail outlets, 5-star hotels, 4S car dealerships, 900-car storage facility, petrol refueling stations, and a variety of tourist attractions and restaurants."
"It is our hope that this project will further position Malaysia as Southeast Asia's most preferred tourist destination," he said in a statement today.
Furthermore, David confirmed that the upcoming racing circuit would be a world first in terms of racing circuit design.
When completed in the second quarter (Q2) of 2023, ORIC will place Langkawi at the forefront of Asian motorsports, providing a forum for major automotive manufacturers, motorsports enthusiasts, and racing teams from around the world to foster automotive research and development, testing ground, and racing destinations.
According to Muhammad Sanusi, this development would be able to draw more international visitors, which will favor the island of Langkawi and its citizens.
In addition to the existing attractions, the international racing circuit would certainly draw visitors to Langkawi, he predicted.
"The decision by PKB and ORA to establish a world-class racing circuit on Langkawi Island to boost tourism is very fitting.
- TAGS / KEYWORDS: