By Chok Sim Yee
Deal signed to build 56-storey tallest building in Borneo
BEIJING: Renowned Sabah developer Jesselton Group has signed a Memorandum of Agreement (MoA) with China State Construction Engineering (M) Sdn Bhd to design and build Jesselton Twin Towers with gross development value (GDV) of more than RM800 million in Damai.
Once completed, the 56-storey Jesselton Twin Towers will be the tallest building in Borneo.
Jesselton Group, headed by its executive chairman Tan Sri Datuk David Chu, has recently completed its maiden project, Jesselton Residences, which is currently the tallest building in Kota Kinabalu Central Business District (CBD).
China State Construction Engineering (M) Sdn Bhd is a subsidiary of China State Construction Engineering (CSCEC), the third largest corporation in the world.
The MoA was inked on October 18 for China State Construction Engineering (M) Sdn Bhd to design and build Jesselton Twin Towers at RM 410 million for 40 months upon its commencement.
Chu believed that CSCEC’s internationally experienced design and construction team could achieve better results in a shorter construction period.
He said construction of the iconic project was expected to commence in early 2018.
Jesselton Twin Towers comprises two blocks with 819 high-end condominium units. It is located strategically at Jalan Bersatu in Damai, where the existing one-way lane will be upgraded to a dual carriageway (in and out) upon its completion for the convenience of the home owners.
This will serve as the main road linking Jalan Lintas and Jalan Damai without going through Foh Sang, Jalan Kolam during the peak hours.
“Jesselton Twin Towers will be an address where networking begins for the younger generation,” Chu said.
The memorandum was signed between Chu and China State Construction Engineering (M) Sdn Bhd managing director Lyu En, witnessed by CSCEC chairman Huang Kesi, CSCEC general manager Wu Jianguo and Sabah Housing and Real Estate Developers Association (Shareda) president Chew Sang Hai and the council members. Also present was Jesselton Group general manager Kelvin Thong.
The signing ceremony was held during the Sabahan developers’ study tour on super high rise buildings in Beijing jointly organized by Chu and CSCEC.