Over RM4 billion invested in Desaru Coast, Legoland Malaysia, says PM
KUALA LUMPUR: Khazanah Nasional Bhd has already invested over RM4 billion in Johor's Desaru Coast and Legoland Malaysia Resort, says Datuk Seri Anwar Ibrahim, the Finance Minister.
The investment is through the wholly-owned subsidiary Destination Resorts and Hotels Sdn Bhd, which is focused on infrastructure and strategic tourism assets.
These assets include The Westin Desaru Coast Resort, Hard Rock Hotel Desaru Coast, Anantara Desaru Coast Resort & Villas, and The Sireya Desaru Coast by Mandarin Oriental, formerly operated by One & Only Desaru Coast.
Anwar highlighted that the development at Desaru Coast will be enhanced over the next five years, with plans for more hotel rooms, resorts, branded residences, and other tourism facilities.
In response to a Parliamentary question from Yeo Bee Yin (PH-Puchong), Anwar revealed that Desaru Coast is expected to benefit from the Johor-Singapore Special Economic Zone (JS-SEZ), which will boost competitiveness and regional development.
He noted that Desaru Coast has already created approximately 1,500 job opportunities, with Malaysian citizens filling 98% of these positions. Khazanah and DRH are committed to ensuring inclusive benefits for the local community, and more employment opportunities are expected in the future.
As the sovereign wealth fund, Khazanah is mandated to invest in long-term developments that support sustainable economic growth. Anwar emphasized that the Desaru Coast investment is catalytic for tourism, capable of generating financial returns and strengthening the tourism ecosystem.
Additionally, the project creates business opportunities, attracts private investment, and enhances Malaysia's regional profile. Anwar also mentioned that Khazanah has established strategic partnerships in Desaru Coast, including with Permodalan Darul Ta'zim, a Johor state-owned entity managing key state assets.
