It’s always exciting when new attractions are opened. It means more fun awaits everyone, and good times close in the future. There’s no denying the buzz of excitement that comes with a new theme park.
However, this is not the case for what was supposed to be a new ESCAPE theme park in Kuala Lumpur. The project was announced back in November 2023, but it has been revealed that Bandar Malaysia Sdn Bhd (BMSB)’s agreement with Sim Leisure Group Ltd., a Singaporean theme park developer, has been terminated, and the project will not be moving forward.
According to several reports, the original plan was for the theme park to occupy 75 acres of land under a 15-year lease. Due to the termination, which was issued to Sim Leisure on 16th December, Bandar Malaysia is expected to pay Sim Leisure RM350,000 for the security deposit, and RM1,000,000 for the advanced payment previously paid by Sim Leisure.
These payments are expected to be completed within 30 days from the date of termination. Alongside the security deposit and advance payment, Sim Leisure has mentioned that they are looking for compensation for their capital expenditure. They did not, however, specify the exact amount expected.
With the news that the Finance Ministry had put Bandar Malaysia on the market, there were rumours suggesting that KLCC Property Holdings was the one to acquire 486 acres of land owned by Bandar Malaysia. However, the property company has come forward denying all the allegations, saying that they are not the reported buyer of Bandar Malaysia nor were they involved in any transactions with the company.
Sources: The Straits Times, Malay Mail, New Straits Times, The Star, The Rakyat Post
Janae Lee contributed to this article.
