The project, to be undertaken by Sunhill Development Sdn Bhd, will see the development of a RM35 million nine-storey hotel, a RM5 million two-storey food court and 20 units of shophouses worth RM20 million.
Joseph Ting King Sung, Sarawak Housing and Real Estate Developers' Association (SHEDA) president, said the project is expected to be completed in five years time by Sunhill, a company related to his Joseph Design and Contracts Sdn Bhd.
He also said the properties, to occupy high grounds at the 23rdkm of Tun Abdul Rahman Road, will be free from any flood problem.
Ting was speaking at a press conference to announce SHEDA Home and Property Roadshow Sibu 2010 yesterday.
The three-day roadshow from July 27-29 will be held at Wisma Sanyan in Sibu in conjunction with the upcoming Merdeka Day celebration.
"To date, 60 per cent of the total of 23 booths have been booked, with a 10 per cent discount given to members of SHEDA," Ting said.
"In view of the economic recovery, this should be the best platform for developers from Kuching, Miri and Sibu to introduce their housing packages," he added.
By Bernama
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