A memorandum of understanding was recently signed between Coco International Ltd and AUF Properties Sdn Bhd to develop the centre on an eight-hectare site.
Coco International, an international investment company based in Ras Al Khaimah, the United Arab Emirates, will fund the project.
AUF Properties, a local company specialising in luxury property, will oversee the project's development.
Speaking after the MoU signing ceremony at Wisma Darulaman, Coco International director Donald Starkey said the joint venture was the company's first investment in Southeast Asia.
Also present were AUF Properties director Fazlan Azri Tajudin and state Housing, Local Government and Rural Development committee chairman Datuk Phahrolrazi Zawawi, who represented Menteri Besar Datuk Seri Azizan Abdul Razak.