Kuala Terengganu City Center
Lambert advised KTCC on development requirements for creating a tourism hub. We assisted the team with the right balance and timing between public and private investments and provided strategic guidance on the long-term phasing of a master plan of the KTCC.
PROJECT SUMMARY
Kuala Terengganu (KT) is an ancient city on the east coast of Malaysia, where the Chinese Armada used to build ships for a period of time given its peerless strength of its woods. Despite tremendous mineral resources, the city had gone through a period of long decline and was falling behind many other cities in Malaysia in terms of investment and economic activity.
Lambert Advisory was engaged by the East Coast Regional Development Council as part of a team to oversee and coordinate property, business, financial, and tourism advisory services, for the integrated master plan of the Kuala Terengganu City Center (KTCC). Lambert provided international benchmark analysis of other planned tourism focused developments to help guide the KTCC to effectively compete with the local and regional market. Our recommendations focused on the scale of development required to build a tourism hub; mix of government vs. private investment requirements; timing of investment; and proposed structure and roles for the development of the area over the long term.
Today, KTCC is undergoing a renaissance with over 3 billion RM invested in the city center over the last 4 years and driven by the master plan.
