"Nobody knows what the new name will be," Regent of Bintan Ansar Ahmad said Thursday.
Besides giving a new name for Treasure Bay, he said, the President will also sign the first stage development of the integrated region.
Treasure Bay will be built in stages by a Malaysian consortium Landmark Holding Sdn Bhd with an investment of Rp24 trillion, and the initial stage of the investment will amount to 425 million US dollars.
The Malaysian investor this year will build a physical fitness center, boutique at a hotel, and living quarters for tourists, and a marina. They will also build Cristal Lagoon which is the latest in the integrated tourist area.
"It is a form of seriousness of the Malaysian consortium to build a tourist area in Lagoi," he said.
The development of the integrated tourist area Treasure Bay had long been planned in 2007, but was facing some problems and now is the time to really start building it, but it will have no gambling facilities, Ansar said. (*)
Editor: Kunto Wibisono
Copyright © ANTARA 2011
