Property Hunter Magazine Property Hunter Magazine Issue 53 - April 2014 | Page 11

Sandakan Harbour Mall rising above Sandakan downtown bridge, walkway/ramp, land works, as well as drainage. “To increase the efficiency of operations and passenger safety, the project also involves additional checkin counters, immigration counters, closed-circuit television cameras, new lifts and escalators,” he said. The upgraded airport is expected to accommodate around 1.5 million passengers per year compared to 800,000 at the moment due to its huge capacity. The project is proceeding smoothly and the government is committed to complete it within the expected period. Commercial Growth In January 2003, the Sandakan Harbour Square (SHS), an urban renewal project, was launched in an attempt to revive the town centre as the commercial hub in Sandakan. It features a shopping mall, shop lots, a new central market and fish market, and hotels. The new RM500 million commercial focal point the Sandakan Harbour Mall is poised to further strengthen the town’s position as a major commercial and tourism hub in Sabah. SHS aims to be the enabler and catalyst for Sandakan’s economic growth, business activities and urban development. The Sandakan Harbour Mall and the Four Points by Sheraton Hotel, which are in Phases 3 and 4 of SHS is making yet another new era for Sandakan town. Since then a lot of new shop lots have been coming up, and Sandakan is also expecting a brand new street mall, Sejati Walk in Mile 7. Estimated to be completed in 2017, this twostorey mall will consist of 340 retail units, plus the first food street in Sandakan. As the project is located about 10 minutes away from the airport, it aims to also be a tourist driven centre with various activities and festivals expected to be held throughout the year. The second phase will also include Sejati Walk 2, hotels, a large supermarket and a wet market. These efforts will hopefully help revive the city to its former glory and further strengthen Sandakan’s position as Sabah’s second biggest urban metropolis and as one of the key tourist and economic destinations in the Malaysia. Increase of Foreign Investors The leisure properties development related to tourism industry will be the The latest highrise development, Sri Utama Condominium developed by IJM Land in Bandar Utama PR1MA billboard seen along Sandakan’s highway upcoming trends in Sabah especially in Sandakan and this is expected to entice more foreigners to reside in Sabah under the Malaysia My Second Home (MM2H) Programme. The Ministry of Tourism, Culture and Environment Sabah is working hand in hand with SHAREDS to boost the high-end tourism market in Sabah and to produce more leisure properties to attract more MM2H applicants to stay and spend monies and make Sabah as their second home. This will help stabilize the slowdown of the property sales in the local market. Quek predicts that investors from China will definitely play a role as there is a lot of interest from them in Malaysia especially since our country is located close enough to China and communication is easy as a lot of locals can converse in Chinese. www.PropertyHunter.com.my 11