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Jesselton Twin Towers records sharp rise in sales
Published on: Saturday, June 11, 2022
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JH Ng: The first purchaser to sign the S&P agreement under the HouzKEY programme.
Kota Kinabalu: The Jesselton Twin Towers project has recorded a sharp increase in sales booking since April 1, said its developer Jesselton Group Executive Chairman Tan Sri David Chu (inset).

With a total of 91 units sold in April and May this year, generating close to RM85 million in sales value, the purchasing interest is on an escalated trend with a further 16 units booked in the first week of June, bringing an approximate sales value close to RM100 million in two months. 

“This sales figure is promising. It makes us feel like we are launching a new project right now,” he said. 

Upon its launching in January 2019, the project secured a sale value close to RM250 million in its first year. 

Moving forward, Chu hoped banks would have more confidence in the Sabah housing property market and increase its lending in residential property financing which will assist in boosting the State’s economy.

“The decision by the Government to expedite the vaccination programme and the reopening of the nation’s borders and the relaxation of all SOPs, especially for the travel and business sectors from April 1, has proven to be effective to speed up the economic recovery.” 

This, he said, has assured most Malaysians and foreign investors that the worst has gone and we are moving forward.

“Over the past one year, we also have been reading news about oil price escalation, sea freight disruptions, materials price increase and so forth.  

“New housing price can no longer be sustained at the same pre-Covid level anymore.  

“In fact, the construction cost of new housing projects has increased by more than 30 per cent averagely, thus the selling price of upcoming new projects will be at least 30 per cent more expensive than that property developers had budgeted initially.  

“We believe that the high inflation rate and low housing loan interest rate have shifted the investors’ focus towards property market recently that contributed to the good sales figure of Jesselton Twin Towers,” he said.         

Another contributing factor to the good sales figure of Jesselton Twin Towers is their recent launch of the Maybank Islamic HouzKEY programme.  

It offers home buyers with 100 per cent financing with no down payment required, no payment during construction period and the low monthly payment with the best rate.  

HouzKEY is a new home ownership financing programme by Maybank Islamic, which was launched in Kota Kinabalu in April this year, for approved housing projects only.  

Jesselton Twin Towers has received 55 units of sales booking for HouzKEY units within a mere period of two months since its launching.    

“Not to forget the group of extremely hardworking property agents from various property agencies in Sabah which are pushing the sales of Jesselton Twin Towers since day one of the project, including GT Nelson, PropNex, The Great Haus, IQI and Jesselton Properties, among others.

“We are so excited to have JH Ng being the first purchaser to sign the sale and purchase agreement under the HouzKEY programme.”

When asked, JH Ng said he was extremely happy that he can now own a luxury condominium right in the heart of Kota Kinabalu golden triangle. 

He said he never thought this is possible until a real estate agent introduced him to such scheme where owning a home is so easy with a good financing package. 

The developer is giving free legal fee for Sale and Purchase Agreement and Loan Agreement, including disbursement and stamping duty fees. 

The Jesselton Twin Towers project is expected to be completed by second quarter of next year. 

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