Azanis Shahila Aman
KUALA LUMPUR: Phase One of Sim Leisure Group's new theme park called Escape Cameron Highlands will cost about RM15 million, with the targeted opening in the first quarter of 2023.
Sim Leisure group founder and chief executive officer Sim Choo Kheng said the overall investment was conservatively expected to exceed RM100 million over subsequent phases, spanning the next 10 years.
"Some of you may be wondering why the amount is smaller compared to other mega theme park's projects that cost billions, but bear in mind that Escape is a low-tech, high fun genre theme park.
"We have minimalist approaches, we used a lot of creativity, thus know how to build it with a very minimal budget," Sim told a press conference at the virtual signing ceremony of Escape Cameron Highlands today.
Sim Leisure inked an agreement with Hektar Muda Assets for the project management of the construction as well as the operation and maintenance of Escape Cameron Highlands environmentally sustainable theme park.
Hektar Muda Assets will fund Phase One of the theme park for RM15 million and will be the assets owning company (AOC).
Sim Leisure will lease the asset from Hektar Muda for 30 year with an option to renew for 10 more years.
Sim Leisure will design, build and manage the Escape Cameron Highlands.
Phase two development will either be funded by Hektar Muda or jointly or solely by Sim Leisure through equity participation in the AOC.
Sim said the development of 24.28 hectare Escape Cameron Highland would be done in stages.
The first phase will take about 15 to 18 months to complete.
"If we start to begin the construction in December this year, then we are assured that we will be able to open the park within the first half of 2023," he said.
"Phase Two and other subsequent phases will be launched later, unlike other theme parks, we will develop Escape Cameron Highlands in phases in order to have the novelty factor over time. We will add new attractions every year just the same way as we have done to Escape Penang over the last nine years," he added.
Sim said with its retro-eco concept and unique appeal, Escape Cameron Highlands was expected to draw 200,000 visitors within its first year, and exceed a million visitors annually beyond its fifth year.
He said with its temperate climate, Escape Cameron Highlands would be themed into five different European villages at varying elevations.
It will start with the Iberian village at the bottom, followed by the British, Balkan and Nordic villages moving up, before finally peaking at the Alpine village at the top.
"The conception of these five themed villages leveraged on our expertise in designing and building themed facades across multiple theme parks around the world, including Europe.
"These themed villages will also feature accommodation and rental offerings, in addition to hosting traditional European pastimes and activities, which will complement the 'fun factor' of Escape's signature Gravity Play and Adventureplay attractions," said Sim.
Sim said the company was looking at new opportunities and partnerships to build more Escape theme parks.
"We are looking to build more Escape theme parks, the next one will be Escape Kuala Lumpur. The company has entered into a few negotiations but there is nothing concrete at this time. There will be more plans going forward and one of them will be Escape Challenge Park. We plan to do six to seven more in Klang Valley alone," he added.