Cox's Bazar:Kuala Lumpur An initiative has been launched to create a five-star eco-friendly resort in the Cox's Bazar-Teknaf coastal belt, with a potential foreign investment of approximately $500 million aimed at boosting Bangladesh's tourism sector.
According to United News of Bangladesh, a Memorandum of Understanding (MoU) was signed at a hotel in Kuala Lumpur, Malaysia, paving the way for this ambitious project. The agreement involved Malaysian entrepreneur Tan Sri Syed Yusof Jojo, former Vice-President and Tourism Minister of the Maldives Ahmed Adeeb, and Chairman of Bangladesh's Versatilo Group Dr. Kamrul Ahsan.
The plan includes establishing a joint investment company in Bangladesh to develop the large-scale, sustainable, and luxurious resort. Project promoters are in discussions with several internationally recognized hotel brands for potential management and operational partnerships, with names such as M¶venpick, Novotel, and Grand Hyatt under consideration. The final selection of the brand partner and operating company will be made after commercial negotiations.
The resort complex is set to feature luxury hotels and villas, international-standard restaurants, health and wellness facilities, entertainment amenities, and infrastructure for nature-based tourism. Tan Sri Syed Yusof Jojo expressed excitement about joining this new venture in Bangladesh's tourism industry, citing the project's attractiveness and investment potential. He has a history of developing high-profile properties, including Four Seasons Kuala Lumpur and Hard Rock Hotel Penang.
Ahmed Adeeb highlighted the opportunity to apply the Maldives' coastal tourism experience to Bangladesh's beach region. Dr. Kamrul Ahsan emphasized that the project's aim is to elevate Bangladesh's tourism profile by creating a world-class eco-tourism destination on the world's longest natural sea beach, rather than simply constructing a hotel.