NCT Group to focus on developing industrial parks

Petaling Jaya, 23 July 2024 – NCT Group of Companies will continue focusing on its industrial park development segment, motivated by opportunities and demands presented.

Its vice-president of finance Sae-Yap Atthakovit stated that at present, the group is moving aggressively in its industrial park development alongside its main business – property development – as well as other segments.

NCT Group had launched its first certified managed industrial park known as the NCT Smart Industrial Park (NSIP) in Sepang earlier this year. It anticipates the first phase of the industrial park to be fully taken up by the first quarter of 2025.

In May 2024, the group inked several collaborations for the development of its industrial parks, such as teaming up with Smartsel Sdn Bhd and Mikro Sdn Bhd to drive the capabilities of the NSIP.

NCT Group is also collaborating with Northern Gateway Group of Companies, a wholly-owned subsidiary of Minister of Finance Inc, to develop 127 acres of commercial and industrial land at the Delapan Special Border Economic Zone in Bukit Kayu Hitam, Kedah.

“That (industrial park development segment) will be our main focus going down the road and we are always open to more potential collaborations and opportunities in the future because the trend is there,” he told the media after the unveiling of its latest Wyndham Collection Hotel, 1001 Nights Hotel in Genting.

The new luxury hotel collection is located at the group’s second phase of development in Genting, known as the Grand Ion Majestic (GIM).

Its first development in Genting is the 10-acre Ion Delemen, in which four out of seven blocks are managed by NCT’s hospitality brand, Ion Delemen Hospitality, while the remainder are run by Gloria Hotel and Resorts.

According to the group, the 1001 Nights Hotel is expected to bolster Genting Highlands’ reputation as a popular tourist destination once completed.

“The GIM, alongside 1001 Nights Hotel, is also expected to significantly boost tourism in Genting Highlands by attracting a diverse range of visitors, further cementing Malaysia’s position as a top travel destination in South-East Asia.

“It aligns with the national tourism goals and particularly the Visit Malaysia 2026 initiative, which aims to draw 35.6 million tourists,” it added.

Meanwhile, Pahang state executive council for unity, tourism and culture Leong Yu Man shared that there were times when tourists were unable to extend their stay in Genting Highlands due to the insufficient number of hotel rooms available.

“Hence, this new hotel allows Genting Highlands – which pulls in a high number of tourists – to increase its hotel room capacity and allow more visitors to spend the night there.

“At the same time, we see the potential for the 1001 Nights Hotel to promote the meetings, incentives, conferences and exhibitions or MICE horizon as well,” she said during a press conference after the event.

Comprising three towers at the GIM development, the 1001 Nights Hotel will occupy two of the towers housing 1,035 hotel rooms, while the remaining block is located at the Wyndham Ion Majestic Hotel with 850 rooms.

With a total gross development value of RM1.6bil, the GIM is constructed by NCT Group in partnership with China State Construction Engineering (M) Sdn Bhd and conceptualised by China-based Jiangda Design Co Ltd founder and chairman Professor Zhao Ming.