Feature Interview
/// East Malaysia Property News
standard of living in Kota Kinabalu and has managed to attract a
lot of international investor especially from China, Korea, Hong
Kong, Taiwan and Singapore.
His latest venture, Jesselton Twin Towers is the first of its kind in
Sabah. This 56-storey tall building will be the highest in Borneo.
It consists more than 700 units with floor sizes ranging from 700
square feet to 2,600 square feet, plus four penthouses with over
8,000 square feet. The tower will also be the first in Sabah to
be equipped with 11 lifts inclusive of private lifts which will take
residents directly to their apartments. Other key features include
six sky gardens, sky bar, fitness centre, yoga pavilion, spa &
wellness centre, garden pavilion, gourmet dining suites and many
more.
According to Datuk David Chu, “The project has already
been endorsed by the Central Board and state cabinet. The
Development Plan is also approved by the Kota Kinabalu City Hall.
We are now in the Building Plan stage and we are getting ready
to launch next year. Our design is futuristic and we use only the
best construction materials. I have traveled the entire world to
find the best supplies to ensure that an international standard is
maintained. I have also sought advice from experts who specialize
in high rise buildings. Plus, I personally handpicked everything in
the building, right down to the water taps in the bathrooms.”
The project received encouraging response from home buyers at
the recent SHAREDA PropeEx13 organized by the Sabah Housing
and Real Estate Developers Association.
He has big plans for the future and one day aims to venture
into the property market in Kuala Lumpur and build a high rise
building there. He said, “Great cities are defined by great buildings.
Everyone wants to see the Empire State Building in New York and
everyone who goes to KL wants to visit the Petronas Twin Towers.
I like to build icons that make a statement and I hope that one day
it will be of that magnitude.”
As more East Malaysian developers are trying to break through to
the Kuala Lumpur market, more developers from the Peninsular
are also trying to tap the market in Sabah. This is apparent with
household names developing new projects in the state. Datuk
David Chu believes that Sabah is very popular with outside
developers because of the rising interest from foreign investors.
He explains, “In 2013, we have more than three million foreign
tourist arrivals. We have the second busiest airport in Malaysia
with direct flights from various international cities, like Hong Kong,
Guangzhou, Shenzhen, Hangzhou (Shanghai), Seoul, Taipei, Manila,
Singapore, Tokyo & Brunei . We are especially seeing an increase
of interest from China real estate agents. And this is exciting for us
as our property value will increase because of this.”
When it comes to his success, Datuk David Chu said it all boils
down to team effort. He added: “It’s not a one man show, everyone
in the team counts. I am lucky to have my sons working with me
and also a very reliable General Manager, Kevin Thong, who helps
me oversee our entire operation.”
According to him, the future of Kota Kinabalu and Sabah is big and
bright. This is not only due to the state being a tourism hotspot,
but also because of the rising oil palm and gas industry. There has
been a lot of progress in the past 10 years and Datuk David Chu is
convinced that this will ensure the stability of the property and real
estate industry.
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