The Residences: Sales Launch of RM502 Million
RM2.5 Billion Project: Now
YB Says SEDIA Wrong Again
Diving Training Centre
in Sanya City of the
Hainan Province. The
collaboration between
Diving Best and SMR is
the result of successfully
matching the China
investors with a local
business partner after
their first meeting with
SEDIA.
Chan Foong Hin, Sri
Tanjong Assemblyman
The Residences actual show unit by Mah Sing Group
Mah Sing Properties, a
wholly-owned subsidiary
of Mah Sing Group, held
a sales launch for The
Residences, Sutera Avenue
at KK Times Square from
the 11th to 12th January.
The first day of the event
featured a talk by property
expert Ho Chin Soon.
three towers, namely Tower
1 (100 units), Tower 2 120
units) and Tower 3 (100
units).
the ground floor, and wide
frontage units served by
escalator access to each
floor.
“We are launching Tower
2 in the upcoming sales
launch. Towers 1 and 3
have yet to be launched,”
she said.
The Residences, with a
gross development value
(GDV) of RM502 million,
is part of the mixed
integrated development,
Sutera Avenue, located
on the coastal highway.
Sutera Avenue includes 18
blocks of two-storey retail
shops and three towers
of 11-storey serviced
apartments.
The Residences offers 1+1,
2 and 2+1 room layouts
with built-up areas ranging
from 726 to 1,220 sq ft.
Prices of the serviced
apartments start from
RM605,000 onwards. It
also comes with built-in
wardrobe and modern
cabinets. Residents can
enjoy the facility floor with
infinity pool, sky garden
and playground with their
families.
Ho informed that
construction of the three
serviced apartment towers
had commenced, and
development was slated
to be completed in 36
months.
Mah Sing Properties
marketing and sales
senior manager in Kota
Kinabalu, Michelle Ho,
said the response for
The Residences was very
encouraging.
“Upon obtaining the
developer’s license and
advertising permit, we
decided to do a sales
launch in conjunction with
the upcoming Chinese New
Year,” she said.
The Residences is Mah
Sing’s first residential
project in Kota Kinabalu.
The development has
a total of 320 units of
serviced apartments in
Security is one of the
priorities too, with 24-hour
security, card access to
car park, closed circuit
television (CCTV) at lift
lobby and card access to
lifts and secured reception
lobby. In addition,
residents of the serviced
apartments enjoy shopping
for their daily needs right
at their doorstop as The
Residences sits atop of the
two-storey festive retail
mall.
The mall offers a one-ofits-kind street mall retail
concept with a 50-feet wide
pedestrian boulevard on
She added that The
Residences would be
built in accordance with
Construction Quality
Assessment System
(CONQUAS) Singapore
standard. She also urged
the public to come to
the sales launch of The
Residences, as well as
check out the showroom at
the sales gallery at the KK
Times Square.
Buyers who purchased The
Residences during the sales
launch enjoyed low down
payment, waived legal fees
for loan documentation
and stamp duty, free one
year maintenance fee and
5% plus 2% launching
rebate.
On the other hand, Ho said
the 18 blocks of en-bloc
shop offices were sold out,
while 80% of the 16 blocks
of two-storey retail shops
had been sold.
Reports of a company
from China which will
develop a RM2.5 billion
project in Sipadan was
a mistake. According
to Chan Foong Hin, Sri
Tanjong Assemblyman,
the project will be
developed in Tawau.
Chan clarified the
statement made by
Sabah Economic
Development and
Investment Authority
(SEDIA), saying that
the actual location is
alongside Kalumpang
River in Balung, Tawau.
Tawau has the best
potential to be
developed as a tourism
hub, he said adding that
the strategic location of
the Sipadan Mangrove
Resort (SMR) has caught
the eye of Dving Best, a
China company which
wants to further expand
and develop Tawau
as the new gateway to
Sipadan Island.
It was in fact an
expansion of the existing
SMR, an entry point
project listed under
the Regional Cities and
Corridors programme
with an estimated
investment value of
RM491 million, and set
to generate RM114.9
million in Gross National
Income in 2