RM300m centre to transform KK suburbs

(Kota Kinabalu.....the future for property investment?)

AN INTERNATIONAL technology and commercial centre (ITCC) is being developed in Penampang that will transform the economy of the town in the suburb of Kota Kinabalu.

Built with a capital investment of RM300 million, the ITCC is undertaken by Bumiputera-owned Sabanilam Enterprise Sdn Bhd, a subsidiary of Malakun Holdings owned by Datuk Seri Clarence Bongkos Malakun.

The project will include the development of a business hotel, an office tower hotel, a modern shopping mall with hi-fi facilities, theatre and science and technology exhibition area.

Officiating at the ground-breaking ceremony of the project, Chief Minister Datuk Seri Musa Aman said the ITCC is listed as a private sector initiative project by the Sabah Economic Development and Investment Authority (Sedia), the one-stop authority for the Sabah Development Corridor (SDC).

Musa said the ITTC reflects the capabilities of Bumiputera company to undertake big projects.

"Both the state and federal government are continuously encouraging Bumiputera entrepreneurs to initiate and participate in projects that could help spur economic growth in Sabah," he said.

Malakun said site preparation for the ITCC project located at Jalan Pintas in Kampung Hungab, Penampang, has been completed and that piling works would begin soon.

"We expect the project to be completed in 40 months," he said.

By Business Times