KUCHING: Naim Holdings Bhd is embarking on Bintulu Paragon — an ultra-modern commercial, residential, retail and hospitality development — that will change the skyline of the booming industrial town.

The upmarket project on the 15ha old airport land has a gross development value (GDV) of RM2bil and is slated for a two-phase development.

The RM900mil Phase One will comprise 37- and 39-storey residential condominium blocks — the town’s tallest — along with a three- and six-storey street malls on top of which will be a six-storey serviced and virtual office (SOVO), a business hotel as well as other amenities.

A shopping mall, an office tower and other components are planned for Phase Two.

Naim corporate services senior director Ricky Kho said the Bintulu Paragon would be officially launched next month, with Phase One scheduled for completion in four years.

“Bintulu Paragon will be the new landmark that will change the skyline of the industrial town,” he told The Star yesterday.

It is Naim’s — Sarawak’s largest property developer — first project in Bintulu. The group has been developing new townships in Miri and Kota Samarahan as well as other properties here.

Bintulu Paragon is dubbed as the single largest and most contemporary lifestyle deve-lopment in the town, which is undergoing another industrial boom spurred by the development of energy-intensive industries in Samalaju within the Sarawak Corridor of Renewable Energy.

Kho said with the projected RM300bil worth of investments pouring into Bintulu (based on Regional Corridor Development Authority’s estimates) and the building of Petronas’ liquefied natural gas (LNG) Train 9, there would be an influx of expatriates and workers who were expected to boost the demand for residential and commercial properties.

He added that the proposed condominiums would be made up of a range of built-up units catering for individuals and families, complete with comprehensive lifestyle facilities and security features.

The proposed street malls will have shop offices designed to link to one another, with all units on each floor able to enjoy high visibility. Each floor will be connected and served by escalators and bridges.

An open-air piazza in the centreof the malls will be the hotspot for performances, events and al fresco dining.

Kho said the proposed SOVO would consist of two blocks of contemporary units that offered a clear view of the activities of the street malls.

Prior to the Bintulu Paragon’s launch, Naim is hosting a series of preview shows of the development in major towns throughout the state, where potential buyers can register to take up these residential and/or commercial units.

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