Construction at the site, set to
be the largest integrated hub in
Kota Kinabalu, has progressed
rapidly in just one year, with
parts of the main shopping
podium topping out already.
Since the new owners took over
we learnt there have been many
positive steps for the project
and critical milestones reached.
A spokesman for the developer
explained once the legal
issues they inherited were
resolved they were able to
bring in experienced design
consultants, project managers
and engineers to accelerate
the construction. Most critical
to the success he explained,
was the inflow of capital from
the new owners as well as
securing bridging financing from
strong financiers such as Sabah
Development Bank.
Interest in the project from
property buyers and analysts
has also been positive. Since the
re-launch, PacifiCity informed
us they have sold majority of
the ground floor retail units in
Pacific Parade and released
more for sale due to the high
demand. The first residential
block, called Pacific Heights
opens for public bookings in
mid-November, we learnt that
residence is already 60% sold
from its soft launch. Pacific
Heights offers apartments
from 1060 to 3450 sf priced
from RM 698 psf fully furnished
presenting buyers with great
value in a prime location.
Construction at the site, set to be the largest
integrated hub in Kota Kinabalu, has progressed
rapidly in just one year, with parts of the main
shopping podium topping out already.
Pacific Parade, the 1.5 million
sqft mall in PacifiCity will be the
first component completed. “We
are on track from construction
completion in 2014 and are
planning for the public opening
of the mall in 2015”.
The developer explained they
are retaining all the retail space
above the Lower Ground floor,
citing their commitment to hold
these floors strictly for leasing.
“It’s important to our tenants
that there is control over the
mall, especially one of this
size. We have invested a lot of
time and funds to hire expert
consultants, architects and
property managers to create
a mall with the right trade mix,
internal design and accessibility.
There is a real science to this,
whic