Melaka will soon see the development of the 88-storey ASEAN-China Tower that will be built in the Melaka Waterfront Economic Zone (M-WEZ), said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

Ab Rauf, who is the chairman of M-WEZ, said that the ASEAN-China Tower is one of the projects that will have a significant impact on the state.

M-WEZ is focusing on waterfront development in the existing reclaimed sea area of 10,117.14 hectares starting from Pantai Puteri to Umbai along 33km of the coast of Melaka.

It aims to make Melaka a world-class tourism and investment destination.

The multi-billion-ringgit development comprises several components such as real estate, tourism, education, banking/financial, investment and logistics, trade, health/medical, and industry.

It will feature the Kuala Linggi International Port as the oil and gas industry services hub, the Tanjung Bruas Port as the container port, and the recently revived RM42 billion Melaka Gateway as the Melaka International Cruise Terminal.

According to Ab Rauf, Melaka will get RM3.5 billion in investment through seven projects developed in collaboration with Cheng Ho International Trade and Cultural City Centre Sdn Bhd and Chinese investors.

He said that all projects will be developed once the application process for implementation was approved by state officials.

The ASEAN-China Made Products Outlet and Exhibition Centre, the ASEAN-China International Grand Bazaar, the Malaysia-China Metaverse Database Centre, and High-Level Professional Training Base are among the other initiatives.

These projects, including the ASEAN-China Tower, will be developed in partnership with the China Centre Overseas Joint Development Preparatory Committee, according to Ab Rauf.

The Health E-Atomisation Industrial Park, a collaboration between Oriental Vaping and E-Atomisation-Malaysia and China Sdn Bhd, and the ASEAN Health E-Atomisation Forum, a collaboration between Oriental Vaping and E-Atomisation Ltd (UK), will also be established in Melaka, he said.

"Various new projects will be developed in Melaka through memoranda of understanding (MoU) signed with Chinese companies and these investments will further strengthen bilateral relations in various aspects with China," he told reporters after witnessing the MoU signing ceremony in Melaka recently.

Separately, Ab Rauf said that the Melaka government intends to increase the number of dwellings under the rent-to-own (RTO) concept or programme aimed at low-income B40 housing projects, so that this group can afford to own their own homes.

He said that there are currently 1,150 dwellings under the Melaka Housing Board (LPM) RTO plan, including 1,100 People's Housing Project (PPR) residences in Tehel and 50 Rumah Sejahtera units in Lipat Kajang.

According to Ab Rauf, LPM will ensure that only eligible recipients receive these benefits, and that under this RTO model, all applicants are entitled to own a property, with each recipient paying a monthly rental cost of RM200 to RM300, depending on the price of the premises.