CM: Tourists encouraged to join MM2H scheme
Published on: Tuesday, February 28, 2017
Kota Kinabalu: Tourists and regular visitors to Sabah are encouraged to take up the "Malaysia My Second Home" (MM2H) programme. Chief Minister Datuk Seri Musa Aman said other than having relatively cheaper property prices in the region, the State has so much more to offer to outsiders."In line with the Malaysian Government's Malaysia My Second Home initiative, we encourage tourists especially those who regularly travel here to make Sabah their second home," he said during the signing ceremony between Titijaya Land Berhad and China Railway Engineering Corporation Development (M) Sdn Bhd (CREC) to collaborate on developing the RM575 million property, The Shore.ADVERTISEMENT His speech was delivered by Deputy Chief Minister cum Industrial Development Minister Datuk Seri Raymond Tan.He noted that Sabah, particularly its capital Kota Kinabalu, has seen so much growth over the years, thus pushing the demand for properties."Sabah is a thriving market and there is increasing demand for properties. Their prices here are relatively cheaper compared to other places in this region including Singapore," he said.ADVERTISEMENT He believed the State is now already seeing more signs of higher growth to come particularly due to the fact of it being a magnet that continues to attract tourists and investors especially from China.He acknowledged that there have been a number of collaborations between Malaysian and China investors in various development activities in Sabah which will inject huge amount of benefits for the local population, one being an increased job opportunities.
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Citing the Titijaya and CRECD collaboration as one of the development activities that will further boost the State's economic landscape, Musa said he hopes more investors will make Sabah their choice of investment locations.He reiterated that on top of all the many reasons why Sabah has been an attractive place for business and leisure, its strategic location within the region is the deciding factor.The collaboration between Titijaya, a company listed on the Bursa Malaysia Main Market, and CRECD to develop The Shore is expected to stimulate further socio-economic growth in Sabah.Both companies has entered into a Framework Agreement (FA) to collaborate in developing the exciting property which is a new waterfront premium class hub that entails luxury mixed-use commercial hub docked within a prime waterfront enclave in the heart of Kota Kinabalu.China Railway Engineering Corporation is one of the world's largest construction companies and has partnered Titijaya on a number of development projects before."Today marks Titijaya's first project in Kota Kinabalu. This vibrant city has developed in leaps and bounds over past years under the leadership of Datuk Seri Musa Aman who has made Sabah to be a well-known tourist destination as well as his contribution to the development of commodity, oil and gas," said Titijaya Land Berhad's Deputy Group Managing Director, Lim Poh Yit.He said with CREC's strong brand name, more Chinese investors would find it attractive to invest in The Shore, a move that would also strengthen Sino-Malaysian economic ties. The Shore is a unique U-shaped design with 25 storeys in total. The development also comprises 561 units in build-up sizes ranging from 409 sq ft and 541 sq ft with a price tag ranging from RM453,000. The project is expected to complete in 48 months from the commencement of construction.Stay up-to-date by following Daily Express’s Telegram channel.
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Under the agreement, Ascott, acclaimed to be the world's largest and an award-winning serviced residence owner-operator with over 26,000 units in key cities around the world, will manage the serviced residence components of The Shore for a contract period of 15 years.Also present were Titijaya Land Berhad's Group Managing Director Tan Sri Lim Soon Peng, CREC Managing Director Wang Youping, Consul General of the People's Republic of China in Kota Kinabalu Chen Peijie, CEO of Ascott Residence Trust Management Limited Ronald Tay, Blu Waterfront Development Sdb Bhd Chairman Datuk Awang Shah and Federation of Chinese Associations Malaysia President Tan Sri Pheng Yin Huah. - Leonard Alaza