Retailers Rush to Expand in Kota Kinabalu
“Dubai and Singapore have
opened their waters and
attracted the best talents to
develop their countries. They
managed to reel in many
investments worldwide,” he
said.
Property Sector Will
Continue to Grow
Positively
Comparing Kota Kinabalu to
Iskandar Malaysia, Najmuddin
said the latter is a greenfield
venture which will take years
to prove itself, while Kota
Kinabalu is already a city with
its own attractions.
The soon to complete KK Times Square II which consist of
IMAGO Mall and The Loft Suites
Retailers are rushing to expand
their presence in Kota Kinabalu
as the retail sector in Sabah’s
capital is set to grow 5% to
10% in the next few years.
“Parkson has been in Kota
Kinabalu since the 1980s.
The market there is good.
Currently, we have two stores
— one in Karamunsing and
another in One Borneo Mall,”
Parkson Holdings Bhd general
manager Loh Chai Hoon told
The Edge Financial Daily.
Parkson is slated to open
its third store in the soonto-be launched Imago Mall,
which is owned by Asian Pac
Holdings Bhd. The Imago
Mall, to be completed in the
fourth quarter of this year, has
attracted international and
local retailers, some of which
are making their debut in Kota
Kinabalu.
“This will be our largest store
in Kota Kinabalu. The opening
of our third store in Sabah
demonstrates our commitment
to grow our presence there,”
said Loh.
The country’s largest
department store operator
does not rule out the
possibility of opening another
store in the city.
“We will look at various factors
before we plan on expanding
and bringing in one more
outlet into Kota Kinabalu,
but we are open to it if the
opportunity arises,” said Loh.
Making its first entry into Kota
Kinabalu is Aeon Fantasy (M)
Sdn Bhd, which will be opening
its store in the Imago Mall.
“This will be our first project
in Sabah. Our concept is very
new and it will bring a different
experience to the local
community,” managing director
Chong Swee Ying told The Edge
Financial Daily.
She said opening an outlet
in Sabah is in line with
the company’s strategy of
expanding in Malaysia.
“We plan to open at least three
outlets there,” she said.
Bonia Group and Mcat Box
Office Sdn Bhd are also
making their first foray into
Sabah through their brands
Sembonia and MBO Cinemas.
Valiram Group’s Charles and
Keith, Victoria’s Secret and DNP
Clothing Sdn Bhd’s Dorothy
Perkins, Miss Selfridges and
Topshop are among the
retailers that are bringing local
and international brands into
Kota Kinabalu.
Other retailers include
Swarovski (M) Trading and
Padini Group.
On Kota Kinabalu’s
development as a port and
commercial hub, Asian Pac
chairman Tan Sri Megat
Najmuddin said Sabah should
further develop itself as a
commercial hub.
Najmuddin is bullish that the
annual retail spending in Kota
Kinabalu will exceed RM1.4
billion.
“The Kota Kinabalu
International Airport is the
second busiest airport in
Malaysia with about three
million tourists a year,” he said.
Najmuddin said tourists from
South Korea, Japan, Taiwan,
Brunei and Hong Kong visit the
city that provides investment
opportunities and growth for
the whole state.
WSG Group Managing Director, Datuk Susan
Wong
Property development may have to cope
with escalating price of construction material
but overall the sector is expected to continue
to grow positively in the coming year of the
Horse, said a leading property developer.
Mega Sunwise Sdn Bhd Managing Director,
Datuk Susan Wong said, “Despite increasing
cost due to costlier material, it does not
mean it is the end of the world for the
sector.”
“It would be prudent to say that
implementation of cost saving measures
would be a priority for developers apart from
having to work extra hard in marketing the
products.
“We have to be selective and more efficient
in handling cost. It is important to avoid
wastage that will add to the cost,” she said
on her expectation for the coming Chinese
New Year.
Wong said that to simply increase the price
of houses would only disturb the market
as it makes it difficult for people to own
house, adding that commercial banks are
also stringent in processing and approving
housing loans. Financial institutions had to
adopt such measures to avoid people from
being overburdened with loans or over
investing.
“It is good for the people although it may
affect our marketing. Therefore, we need
to make sure the price is affordable and
work hard to find buyers now,” she said
adding that change must also be made on
those little things such as to the marketing
brochures in order to attract buyers.
“However, overall the situation of the housing
development industry in the state will
remain positive. Furthermore, it is said that
whenever the year of the Horse comes, there
will be success,” she concluded.
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