/// Cover Story
Projects Lined Up for 2014 in Sabah
Photo by Rustam Razali aka Ankol Tom
B
efore Kota Kinabalu became
a property hot spot, shop
houses block along Jalan Gaya
or formerly known as Bond Steet
were selling at around RM1.2 million
and have shot up to figures in excess
of RM7 million.
The property market in Kota Kinabalu
remained on-track for steady growth
following the uptrend in the last
two years. And real estate situated
at prime locations continues to
command high prices.
Demand for purpose-built office
space has been encroached
by supply from signature office
developments in fringe locations
and suburban centres. And there
has been some appreciation in the
market value of these properties.
The city’s retail sector will also remain
stable with established retail malls.
Due to limited new supply and hikes
in land and building prices, new
housing developments are getting
more expensive. Landed homes
with high prices are also beyond
the range of most first-time home
buyers. Hence, a lot of developers
are switching gears and focusing
more on developing affordable
homes instead.
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www.PropertyHunter.com.my
The Kota Kinabalu City Hall (DBKK) is
also expecting to complete the final
draft of its Kota Kinabalu Local Plan
2020 with the aim to transform KK
City into a world class Nature Resort
City. The rapid pace of development
taking place the city also shows there
is a clear need for planning approval
processes and procedures to be
more efficient and effective.
The announcement of the Budget
2014 has caused the property
industry a slight setback. But the
market is expected to bounce back in
the second half of the year with more
property launches.
Local giants like Kinsabina Group of
Companies will be launching their
Royal Kinabalu, Titanium Techonology
Park, Riverside Residence, and City
Point Shopping Mall & Hotel; Mah
Sing Group which recently launched
Sutera Avenue (The Residences),
and the highly anticipated Kota
Kinabalu Convention City has started
construction work; and Wah Mie
Group launching Setia Walk, located
in Sandakan.
High rise residential buildings are
the current trend. Developers such
as Jesselton Group, behind Jesselton
Twin Towers and Jesselton Heights;
Remajaya, the maker of Bay 21 TOO;
and Pacific Sanctuary Holdings of
Pacific Heights (Phase 2) are also in
the scene.
Other residential properties that
are up and coming in Greater KK
this year include condominiums
in Bundusan by Fine Landmark,
SC Land and Sara Timur Realty, a
high end condominium in Sutera
Harbour by Xing Asia Impel, and
condominiums in Luyang and
Kepayan by Wow Property.
Mixed developments will also be a
popular feature this year. Bestmart
Development will soon have a mix
development in Bundusan and
Topwira Corporation will also have a
new mix development in Damai.
Other properties this year is Desa
Heights in Putatan by CST Realty,
Harrington Suites a premium
condominium by Interland
Properties, Greenfield Residences
by Greenfield City, Jesselton Quay
by SBC Corporation, Ria Jesselton by
SBJ Corporation and Ashton Tower a
condominium project in Kelombong
by SCP Property.
Furthermore T1@Bundusan; T2@
Tawau by TBMC Development, Park
Avenue by Eco Evergreen; Jesselton
View, 8 Avenue, and One Jesselton by
Bina Puri; 360 Boulevard, Sky City in
Karamunsing by Homesign Network;
and C Park, Eco Park, and Business
Suite in Labuan by Chang Cheng
Realty.
Many of the mention developers will
be showcasing in the third edition
of the Property Hunter Expo (PH
Expo) held on March 7 to 9, 2014
(10:00am to 8:00pm) at the Sabah
Trade Centre will showcase just that.
With 10 new pr oject launches and
60 developers will be featuring their
latest projects around Malaysia,
Singapore and Australia.
PH Expo strives to educate the
public by presenting a variety of
property investment opportunities
available in the market, as well as
to educate keen property investors
and homebuyers with the latest
information on industry movement.
The Expo also aims to bring investors
and home buyers to property
developers with the ever growing
demand in premium property.