New property developments in Sabah
DESPITE the property market slowdown, there have been a few notable projects launched in the past 12 months.
In January, Gamuda Land launched Bukit Bantayan Residences, a 25-storey condominium project in Inanam. With a GDV of RM 144 million, the 296 condominium units are priced between RM440 to 544 per square feet (psf ).
A month later, North Borneo Land Avenue Sdn Bhd, a subsidiary of EH Group, launched SkyVue Residence with an estimated GDV of RM177 million. Located in Kobusak, Penampang, SkyVue Residence reaches 22-storeys and houses 200 condominium units sold at RM552 to 698 psf. Tower Paradise Sdn Bhd also launched Maya@Likas in the same month. Maya@Likas, situated near Wisma Wanita, comprises three 16, 21 and 26-storey residential towers with 483 units in total. The GDV of the project is worth RM300 million and the average price of the units is RM 540 psf.
In March, three more apartment and condominium projects were launched, namely E Residence Phase 1 in Telipok, Kingfisher Inanam by Hap Seng Properties Sdn Bhd and University Utama Condominium Phase 6 by the W Group. Kingfisher Inanam is a three-tower condominium project located along Jalan Kiansom.
The development will have a total of 739 condominium units priced RM397,000 and above.
Bukit Saujamas in Telipok, a housing project jointly developed by Malaysian National Cooperative Movement (Angkasa) and Tajuk Unggul Sdn Bhd, was launched in May. Bukit Saujamas consists of 1,664 apartment units of 900 square feet in four 28-storey buildings. Its GDV was estimated at RM479 million.
In June, GE Properties, a subsidiary of Naim Indah Corp Bhd, announced its first project in Sabah, namely Likas Boulevard. The development in Likas Bay is worth approximately RM2.4 billion in GDV and comprises three blocks of condominium, an office tower, retail lots and a hotel.
Both Maya@Likas and Likas Boulevard projects are not listed in Shareda’s records.
As for landed residential developments, only three were projects were recorded. Taman Ganang Phase 2 In Kepayan, a twostorey terrace house project, is sold at an average selling price of RM519 psf. Meanwhile, the price of Prestige Residence in Menggatal and Taman Limbai Ria Phase 2 in Sabandar, Tuaran, both doublestorey terrace house developments, starts from RM 572,042 and RM 320,000 respectively.
In terms of commercial developments, Seri Putatan Commercial Centre, a two to threestorey shop office at Kampung Puteh, Putatan selling from RM 899,880 to RM2.78 million.
Meanwhile, Embun Tower at Grand Merdeka, a small office home office (SOHO) development in Menggatal was also launched. The 179 SOHO units are selling from RM238,000 to RM395,500.
On the other hand, projects launched outside the west coast of Sabah include Bandar Baru Keningau Phase 1 (GDV RM99 million) and Astana Height Phase 5B (GDV RM51 million).