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Text Box: updated on 7th Dec 2009 Text Box: FEEDBACK Text Box: AUCTIONS Text Box: DEVELOPMENT Text Box: SELL OR RENT Text Box: HOME

Text Box: Please do not hesitate to contact us if you have any enquiries.   Office Address: 3rd Floor, Lot 23-3F, Beverly Hills Plaza, Jalan Bundusan 88300 Kota Kinabalu, Sabah, Malaysia.     TEL: 088-723901, FAX: 088-722901 email: homeland@sabahproperty.com.my Text Box: Copyright @ 2009 by Homeland Publisher. All Rights Reserved.   Text Box: Introduction Text Box: I’m hearing a common refrain these days when talking to industry leaders: While there’s concern about the downturn, folks in the building industry haven’t been affected That’s because units are still being sold. And where, do you ask, are these buyers coming from? Are these buyers from abroad? Is there a sudden trend for MM2H investors rushing to buy our local real estate? Apparently, no. Although there are some foreign investors moving in, most of the buyers of local properties are the locals themselves. Most of them come from the East coast and Central Sabah where Palm Oil has given rise to a new breed of entrepreneurs. Over the past few decades, most of the plantations have switched from planting Cocoa to Palm Oil, a crop with a huge worldwide demand and fetching top dollar in exports. With the maturity of the crop over the last few years, came the creation of many new millionaires when export prices hit the top. Even when the prices dipped, most of the planters were still raking in profits as their cost of maintenance and production was minimal. So where do these planters invest their money? You guessed it. In the local property market. One good example is the Royal Kinabalu Resort Hotel & Suites by Kinsabina Group Sdn Bhd, a five star resort which is to be situated less than one kilometer away from the entrance to the Mount Kinabalu Sabah Parks. In this issue, we highlight this unique project in our cover story – its outstanding record performance in selling out almost every unit even before the official launching date. I was told by the developer that they initially targeted the MM2H ex-Pat market as their unit cost was considered too high for local investors. They were proven wrong when local investors gobbled up almost every available unit except for one entire block of 110 suites which was bought earlier by an Indonesian Foreign Fund manager and later was also bid for by another big investor from Brunei. All arrangements for their planned overseas marketing road shows had to be abruptly cancelled as there was nothing left to sell. Another industry giant – the Wah Mie Group, will be celebrating their 30th Anniversary this year. She has also just launched several products in Taman Bukit Sepangar, a 380 acre project site near Sepangar Bay just 20 minutes drive from the City and is now in the process of acquiring more land within and around the city with the view of launching several more new projects in the next few years targeting up-market home buyers, MM2H and also property investors. Included in this issue are articles written by our regular feature writers which bring you interesting topics such as MM2H package, Building towards a Green Future, Joint Management Corporation, Appreciating the Kota Kinabalu City’s Heritage Architecture, an Interior Furnishing Inspiration, Call for Bank Negara to regulate Islamic Housing Loan debt structure and a Public Dialog of the Proposed Sinsuran Urban Regeneration Project (SURGE). As this year ends and we face a new year with new challenges, on behalf of my management and staff, I would like to wish you, our readers, a very Joyous Christmas and a Happy & Prosperous New Year 2010!

Text Box: ISSUE #17 NOW Available!

Text Box: SABAH PROPERTY is published by:                 Homeland Publisher Sdn Bhd (825536-M)

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