1Sulaman, Star City reflect property scene
Published on: Monday, January 03, 2022
By: David Thien
.jpg "1Sulaman, Star City reflect property scene")
PNB kl 118.
Kota Kinabalu: As 2022 begins, the property market here is buoyed by good news of the near completion of the once abandoned for nearly a decade - 1Sulaman mixed development project.Whilst the abandoned Star City project, which still mars the commercial property investment scene, is still awaiting plan approval to rescue it.
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Both project developers’ insolvency and the buyers’ fate were highlighted by Daily Express over the years.
There was a plan to transform the abandoned Star City Mall into a mixed development KK One Tower, to be financed by a China developer and to be built by a China contractor. The Covid-19 pandemic saw the rescue progress being stymied by lockdowns.
Daily Express learnt that the China-intended investment to transform the abandoned Star City Mall into a mixed development KK One Tower is still in progress with the building plans in the approval process.
KK One was planned with over 50 storeys with a proposed sunset scenery viewing deck beyond 200 metres, according to Feng Chuibin, President of Fusun International Holding Limited and Skyrich Development Sdn Bhd in 2019.
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Its height is nearly half of Kuala Lumpur’s upcoming Merdeka PNB 118 or KL118, a 118-floor skyscraper, with the 118 project’s highest occupied usable floor at 485 meters above the ground.
The architectural height of Merdeka PNB 118 is 678.9 meters (2,227 feet). This is measured from the ground to the tip of the spire, and this height was unveiled recently on November 30, 2021 when the tower topped out at its full height.
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An artist impression of the Star City replacement KK one project
The KK One project is in partnership with landowner, Sabah Urban Development Corporation (SUDC) of the Sedco Group, to construct the State Capital’s tallest building landmark with the China investors to contribute some US$500 million or up to RM3 billion.
At the 2019 launching, the then Director-General Wu Nanxiang of the Fujian Provincial Department of Commerce said:
“We hope we can join hands to upgrade communication and cooperation with Kota Kinabalu in all fields guided by the ‘Belt and Road’ framework, and seek greater cooperation at higher level in more fields which will serve as the solid foundation for economic and trade co-operation.
“Malaysia is Fujian’s fourth largest trading partner among Asean countries. Malaysia is Fujian’s third largest source of foreign investment and second largest investment destination,” he said.
With the completion of 1Sulaiman in 2022, the State Capital will see an addition of a few hundred units of residential property and commercial retail outlets to its real estate stocks, so will KK One, if it is completed in future with additional hospitality accommodation expanding the numbers of hotel rooms in the city.
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