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Old May 29th, 2013, 03:52 AM   #5961
raksasa sundek
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Originally Posted by Einjahr View Post
Kudos on the pics!

Kota Kinabalu is what would be termed a "ribbon" city, a relatively narrow strip running roughly North to South and hemmed in by the mountain range on one side and the sea on the other side. This accounts for the bad traffic jams trying to reach the other end of the city and being forced through the key roads running through the city-no matter how much money the Planning Authorities throw at this problem, it cannot be resolved because of the physical constraints imposed by the mountain and the sea. Plus every family seems to have at least 2 cars-perhaps this is the result of the undeveloped public transport system. Clipped from an interview with Mr Christopher Boyd of CBRE Malaysia. Totally disagree with the bolded part, I think property people should let the engineers and the urban planners worry about that. What do you guys think ? Any suggestions or comments on the future of KK city esp with regards to improving public transport?

One obvious thing would be modern train service; a ferry service with jetty terminals is also beginning to become a very attractive proposal.
Ya agree with you that traffic problem can be solved by improving public transport system. Govt need to figure out how to do this. They can hire experts to come up with proposals? Also need to stop corruption/cronyism when giving out contracts to transport licensees. Even better to completely remove corruption in our system. Start with improving bus system including bus stops and terminals. Then maybe rapid transits. After having a good system in place, maybe make it less affordable for people to own/buy private vehicles so that even more people use public transport. It all has to start with the government and the policies they want to adopt.
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Old May 30th, 2013, 04:40 AM   #5962
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Mah Sing to develop RM1.4bil gross development Sabah project


KUALA LUMPUR: Mah Sing Group Bhd will be developing Kota Kinabalu Convention City (KKCC) in Sabah with an estimated gross development (GDV) of RM1.4bil.

In a statement yesterday, Mah Sing said its 51% subsidiary, Convention City Development Sdn Bhd had acquired 9.33 acres of land in Kota Kinabalu, Sabah for the project.

“The total investment for the land at RM184.9mil is equivalent to about 13.2% of the estimated potential GDV and will be paid over a minimum of 42 months,” Mah Sing said.

It added that the development was expected to commence in 2014 and completed within five years.

Mah Sing said Convention City had signed a development agreement with Yayasan Sabah to develop 8.33 acres of prime commercial land in Kota Kinabalu for an entitlement of RM163mil.

Besides RM1mil to be paid upon execution of the development agreement, the rest shall be paid in four tranches over a minimum of 3.5 years, subject to fulfillment of landowners' obligations.

A building together with the one-acre piece of land adjacent to the project was also acquired for RM21.9mil from Sasinma Sdn Bhd.

Mah Sing is also entitled to exercise an option for 5.95 acres of adjacent land which may generate additional GDV of RM600mil, potentially bringing up the GDV of KKCC to RM2bil.

“We may exercise the option for an entitlement price of RM117mil, within two years from the issuance of the separate issue document of title. This will provide further upside for our KKCC project, and the overall entitlement price for both phases will be about 15% of the potential GDV of RM2bil to be generated should we exercise the option,” group managing director Tan Sri Leong Hoy Kum said.

Together with this acquisition, Mah Sing now has 44 projects with a combined remaining GDV and unbilled sales of RM27.8bil.
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Old May 30th, 2013, 09:37 AM   #5963
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Mah Sing To Develop Kota Kinabalu Convention City


Mah Sing Group Berhad’s 51% owned subsidiary Convention City Development Sdn Bhd on 29 May signed a development agreement with Yayasan Sabah to develop 8.33 acres of prime commercial land in Kota Kinabalu for an entitlement of RM163 million. Besides RM1million to be paid upon execution of the development agreement, the rest shall be paid in 4 tranches over a minimum of 3.5 years, subject to fulfillment of landowners’ obligations.

A building together with the 1-acre piece of land contiguous to the project was also acquired for RM21.9million from Sasinma Sdn Bhd, and the total 9.33acres of land shall be developed into Kota Kinabalu Convention City (KKCC), a world class waterfront integrated development with RM1.4billion gross development value (GDV) in Kota Kinabalu, next to the upcoming Sabah International Convention Center (SICC). The total investment for the 9.33 acres of land at RM184.9million is equivalent to approximately 13.2% of the estimated potential GDV and will be paid over a minimum of 42 months.

Mah Sing’s Group Managing Director Tan Sri Dato’ Sri Leong Hoy Kum said, “Prime land in the heart of Kota Kinabalu is hard to come by, and we envision creating an iconic waterfront development. KKCC will be to Kota Kinabalu what KLCC is to Kuala Lumpur, becoming a landmark in Sabah that will put it on the world map. We are gratified by the recognition of Mah Sing’s branding, execution prowess and track record developing iconic projects that has led to this collaboration with Yayasan Sabah. This will definitely be a high impact project.”

Mah Sing via Convention City Development Sdn Bhd is also entitled to exercise an option for 5.95 acres of adjacent land which may generate additional GDV of RM600 million, potentially bringing up the GDV of Kota Kinabalu Convention City to RM2 billion.

Tan Sri Dato’ Sri Leong added, “We may exercise the option for an entitlement price of RM117million, within 2 years from the issuance of the separate issue document of title. This will provide further upside for our KKCC project, and the overall entitlement price for both phases will be approximately 15% of the potential GDV of RM2billion to be generated should we exercise the option.”


Prime Site in Kota Kinabalu City Centre
Fronting Jalan Tanjung Lipat along the Coastal Highway, the site is near KK Suria Mall and next to SICC in the heart of the city. It is only 1.5km from Hyatt Regency Hotel, and 3.5km from Mah Sing’s Sutera Avenue. It is within 5km of Menara Tun Mustapha, Sabah’s State administrative center, and a short drive from the high end residences in Signal Hill.

SICC will be the main centre for convention activities and development of the MICE industry in Sabah. Currently under construction, the SICC will be able to accommodate over 5,000 delegates upon its completion, and Kota Kinabalu Convention City shall provide supporting facilities for SICC.

Tan Sri Dato’ Sri Leong said, “To fully capitalize on this prime site and complement our neighbours, the integrated development has been envisioned as a premier lifestyle residential, commercial and tourism centre to be designed by international consultants. We have planned a business hotel, a luxury hotel, hotel suites, office towers, shop offices, lifestyle retail, F&B outlets and serviced residences for this project.

The first phase of Kota Kinabalu Convention City will be a massive undertaking over the next 4 to 5 years, and will be developed to utilize the full potential of Kota Kinabalu’s beautiful waterfront.


Capitalising on Mah Sing's Established Branding
Mah Sing first entered Sabah’s property market in 2012 with Sutera Avenue, an integrated development comprising multi-storey shop offices complemented by street mall retail shops and serviced residences. Located diagonally opposite the 5-star Sutera Harbour Resort and KK Times Square, Sutera Avenue has direct road frontage to the Coastal Highway and is only 3.9km from the Kota Kinabalu International Airport. Within just a few months of launch in September 2012, 83% of the shop offices and 44% of the retail shops have been taken up, a testament to the Mah Sing brand and success of the project’s concept.

Tan Sri Dato’ Sri Leong commented, “Just 3.5km from Sutera Avenue, Kota Kinabalu Convention City will be yet another high profile, high impact project along the Coastal Highway, which is one of Kota Kinabalu’s main arteries. We are confident of replicating and even surpassing our success of Sutera Avenue when we launch Kota Kinabalu Convention City.”


Potential as Landmark Project in Sabah
Tan Sri Dato’ Sri Leong commented, “We have great confidence that Kota Kinabalu Convention City will be the landmark project in Sabah. It is a perfect fit with our business strategy; the location is second to none, facilities and amenities abound, and we can launch the project quickly in line with our fast turnaround business strategy. We intend to commence registration of interest by the second half of this year, as early as the third quarter.

He added, “The lands surrounding Kota Kinabalu Convention City are already fully developed or earmarked for catalytic projects that has high impact for Sabah. It is an opportune time to tap on the pent-up demand for a premier lifestyle residential, commercial and tourism centre by branded developers.”

Together with this acquisition, Mah Sing now has 44 projects with a combined remaining GDV and unbilled sales of RM27.8 billion.

Last edited by benz; May 30th, 2013 at 10:01 AM.
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Old May 30th, 2013, 09:38 AM   #5964
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Mah Sing set to develop 'KLCC' of Sabah with GDV of RM1.4b



KUALA LUMPUR: Mah Sing Group Bhd will develop Kota Kinabalu Convention City (KKCC), a waterfront integrated development with RM1.4 billion gross development value (GDV), in Kota Kinabalu.


Mah Sing group managing director Tan Sri Leong Hoy Kum said the KKCC will be developed on a 3.78ha site.

Mah Sing, through subsidiary Convention City Development Sdn Bhd, has signed an agreement with Yayasan Sabah to buy 3.37ha of the 3.78ha site for RM164 million.

"The remaining 0.41ha was acquired for RM21.9 million from Sasinma Sdn Bhd, together with a building contiguous to the project," Leong said in a statement yesterday.

The total investment for the 3.78ha at RM184.9 million is equivalent to 13.2 per cent of the estimated GDV.

"KKCC will be to Kota Kinabalu what KLCC is to Kuala Lumpur, becoming a landmark that will put Sabah on the world map," Leong said.

Besides KKCC, Convention City Development is also entitled to exercise an option for 2.40ha of adjacent land.

Leong said this may generate additional GDV of RM600 million, potentially bringing up the GDV of Kota Kinabalu Convention City to RM2 billion.

"We may exercise the option for an entitlement price of RM117 million within two years from the issuance of the separate issue document of title," he added.

Last edited by benz; May 30th, 2013 at 09:59 AM.
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Old May 30th, 2013, 09:57 AM   #5965
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Suria Capital, SBC Corp in RM1.8b Sabah JV


KUALA LUMPUR: Suria Capital Bhd and SBC Corporation Bhd have teamed up to undertake a mixed development project -- Jesselton Waterfront -- in Kota Kinabalu with net sale value (NSV) of RM1.8bil.

Trading in Suria Capital shares on Wednesday was suspended from 9am to 10am.

Suria Capital said the project would be built on its land in Jalan Tanjung Lipat,

"The Jesselton Waterfront Project shall carry a minimum NSV of the developed units of the Jesselton Waterfront Project of RM1.8bil, " it said, adding that 18% would go to Suria Capital and SBC 82%.

"Based on the minimum NSV of RM1.8bil, the Jesselton Waterfront project will carry a minimum guaranteed returns to Suria Capital of at least RM324.0mil," it said.
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Old May 30th, 2013, 10:13 AM   #5966
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SBC Group - Joint Venture Agreement in Respect of The Jesselton Waterfront Project


The Board of Directors of SBC wishes to announce that SBC had on 21 May , 2013 entered into a Joint Venture Agreement (“JVA”) with Suria Capital Holdings Berhad (“SCHB”) for the purpose of commercially developing that piece of the land measuring approximately 16.25 acres (“Development Land”) forming part of the larger land within Kota Kinabalu Port area at Jalan Tanjung Lipat, Kota Kinabalu, Sabah, measuring approximately 23.25 acres (“the Land”) into a mixed development of residential units, retail units, office towers and hotel (or such other component as SBC and SCHB may mutually agree in writing) together with the appropriate infrastructure within the boundary of the Development Land and other complementary or incidental developments (“Jesselton Waterfront Project” or “Project”).
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Old May 30th, 2013, 09:40 PM   #5967
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Originally Posted by benz View Post
Suria Capital, SBC Corp in RM1.8b Sabah JV


KUALA LUMPUR: Suria Capital Bhd and SBC Corporation Bhd have teamed up to undertake a mixed development project -- Jesselton Waterfront -- in Kota Kinabalu with net sale value (NSV) of RM1.8bil.

Trading in Suria Capital shares on Wednesday was suspended from 9am to 10am.

Suria Capital said the project would be built on its land in Jalan Tanjung Lipat,

"The Jesselton Waterfront Project shall carry a minimum NSV of the developed units of the Jesselton Waterfront Project of RM1.8bil, " it said, adding that 18% would go to Suria Capital and SBC 82%.

"Based on the minimum NSV of RM1.8bil, the Jesselton Waterfront project will carry a minimum guaranteed returns to Suria Capital of at least RM324.0mil," it said.
Intelligent to have the convention centre built right in the city centre instead of far away like what Kuching did. This project will definitely spur future developments around that neighbourhood and perhaps there could be an international class cruise ship terminal adjoined to the convention centre? Coupled with residential and commercial developments in the area and bringing people back, the prospects of downtown KK look very bright indeed.

Last edited by Vince; May 30th, 2013 at 09:45 PM.
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Old May 31st, 2013, 04:08 AM   #5968
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Originally Posted by Vince View Post
Intelligent to have the convention centre built right in the city centre instead of far away like what Kuching did. This project will definitely spur future developments around that neighbourhood and perhaps there could be an international class cruise ship terminal adjoined to the convention centre? Coupled with residential and commercial developments in the area and bringing people back, the prospects of downtown KK look very bright indeed.
International cruise ship terminal is planned for Jesselton Waterfront and cruise ships usually berth at this old port. I would like to see whether this three projects integrated together or there is a competition between Jesselton waterfront and KKCC. For now, surroundings projects (1likas and Pacificity) are building hotels, service residence and retails to tap the convention market.
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Old May 31st, 2013, 04:11 AM   #5969
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Estimated location of KKCC by Mah Sing. I could be wrong on this as they did not stat whether its on land or sea.



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Old May 31st, 2013, 04:15 AM   #5970
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Malindo Air may take 3 B787s in 2015


SUBANG (May 31, 2013): Hybrid airline Malindo Air may take three Boeing 787s, otherwise known as the Dreamliner, from Lion Grup's order of five 787s when they are delivered in 2015, while Indonesia's Batik Air takes the rest, said Malindo Airways Sdn Bhd CEO Chandran Rama Muthy.

He said the number of aircraft it takes for the third phase of Malindo Air's growth in 2015, is subject to confirmation by the end of the year.

In June 2012, Lion Grup ordered five 787s from Boeing, which had a total list price of US$967.5 million.

Malindo Air is looking at servicing six-hour routes with the new aircraft, to destinations in the Middle East, North Asia, North India and South of Australia.

"The idea is (based on our) Phase 1, 2 and 3 network growth plan. Phase 1 is domestic, Phase 2 is five hours radius and Phase 3 is going forward with not long haul but more medium haul flights," Chandran told reporters after the launch of its airline ticketing counter at Skypark Terminal, Sultan Abdul Aziz Shah Airport here yesterday.

He declined to elaborate, dismissing its plans for the 787s as "too early to talk about now".

Malindo Air is exploring the potential of turning Kota Kinabalu as a hub for its 787s, especially to serve the North China routes.

The airline now operates both 737-800s and ATR 72-600s.

Malindo Air's brand new ATR 72-600s will serve Kota Baru thrice daily, Penang twice daily and Johor Baru once daily from Skypark Terminal.

In conjunction with the launch of its airport ticketing office, the airline is offering all in one-way fare of RM69 to Penang and Johor Baru respectively, and RM79 to Kota Baru.

Malindo Air's jets flying out of the KL International Airport in Sepang (KLIA), currently operates three flights daily to Kuching and three flights daily to Kota Kinabalu with a fleet of two Boeing 737-900ER.

Chandran said it will launch three Sabah destinations from KLIA in June.

The airline expects to have a fleet of 10 jets and four ATRs by the end of the year.

Boeing 787 to serve china routes? Interesting choice of aircraft from Malindo
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Old June 1st, 2013, 03:23 AM   #5971
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Originally Posted by benz View Post
Estimated location of KKCC by Mah Sing. I could be wrong on this as they did not stat whether its on land or sea.
Maybe not, based on quote below
Quote:
A building together with the 1-acre piece of land contiguous to the project was also acquired for RM21.9million from Sasinma Sdn Bhd, and the total 9.33acres of land shall be developed into Kota Kinabalu Convention City (KKCC), .....
No exising building at area you have highlighted
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Old June 1st, 2013, 01:33 PM   #5972
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Originally Posted by Vince View Post
Intelligent to have the convention centre built right in the city centre instead of far away like what Kuching did. This project will definitely spur future developments around that neighbourhood and perhaps there could be an international class cruise ship terminal adjoined to the convention centre? Coupled with residential and commercial developments in the area and bringing people back, the prospects of downtown KK look very bright indeed.
yea but.. it was supposed to look like this


The original location next to yayasan sabah was so much better( occupied by the admin building). The current location at present does not 'integrate' or translate well into the urbanisation of Kota Kinabalu.
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Old June 1st, 2013, 01:34 PM   #5973
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Originally Posted by tbc View Post
Maybe not, based on quote below

No exising building at area you have highlighted
meaning the map Benz provided was wrong?
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Old June 1st, 2013, 10:20 PM   #5974
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Originally Posted by Einjahr View Post
yea but.. it was supposed to look like this


The original location next to yayasan sabah was so much better( occupied by the admin building). The current location at present does not 'integrate' or translate well into the urbanisation of Kota Kinabalu.
No I don't agree. This location is too far out. Urbanization should be spread from a city centre core, and not building simply anywhere.

Yayasan Sabah was a mistake, and that's why that area is dead even after 25 years.
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Old June 2nd, 2013, 04:09 AM   #5975
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No I don't agree. This location is too far out. Urbanization should be spread from a city centre core, and not building simply anywhere.

Yayasan Sabah was a mistake, and that's why that area is dead even after 25 years.
I beg to differ, looking at the past 25 years may not quite cut the picture seeing how rapidly KK is growing nowadays. Only untill recently, KK is among the fastest growing cities in Malaysia and if you look at the urban plan for Greater Kota Kinabalu, the rate of urbanisation suggests that it is moving northwards. So If distance is the issue, then why is the Administration building is being constructed near Yayasan Sabah?

Besides, at present there are only very few key roads which connects North KK to the Southern region of the city and the tanjung lipat coastal highway is among the main veins that course through the city. That would mean this stretch of road suffers from quite acute jams especially during working days, wouldnt that mean building a convention centre right in the heart of the city could aggravate traffic congestion in the city?

I prefer decentralising the city core to alleviate traffic congestion, which is already a major problem for a city like KK. Plan for the future.
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Old June 2nd, 2013, 05:08 AM   #5976
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Yayasan Sabah was a mistake, and that's why that area is dead even after 25 years.
On the contrary, the IPYS (Ibu Pejabat Yayasan Sabah) complex, under Project Zara, was one of the better planned undertakings of the time. I would say nearer 40 years ago instead of 25
That is if you understood objective of the project being to provide KK residents a recreational venue (apart from work spaces) - that is why there are the library, auditorium, theatre, open plaza etc. And for that to work, there need to be some degree of 'isolation'
Bear in mind the project was not just the IPYS complex, it includes the Tanjung Lipat coastal road - and it's plain to see nowadays how important that road has been to KK's development and growth. No, a mistake it most certainly is not
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Old June 2nd, 2013, 05:16 AM   #5977
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Originally Posted by Einjahr View Post
I beg to differ, looking at the past 25 years may not quite cut the picture seeing how rapidly KK is growing nowadays. Only untill recently, KK is among the fastest growing cities in Malaysia and if you look at the urban plan for Greater Kota Kinabalu, the rate of urbanisation suggests that it is moving northwards. So If distance is the issue, then why is the Administration building is being constructed near Yayasan Sabah?

Besides, at present there are only very few key roads which connects North KK to the Southern region of the city and the tanjung lipat coastal highway is among the main veins that course through the city. That would mean this stretch of road suffers from quite acute jams especially during working days, wouldnt that mean building a convention centre right in the heart of the city could aggravate traffic congestion in the city?

I prefer decentralising the city core to alleviate traffic congestion, which is already a major problem for a city like KK. Plan for the future.
If I am a visitor or a participant in a convention, I want to stay at a hotel that is closest to the convention centre, walking distance is better. At the same time, I want to be close to the amenities and attractions in the city. Of course, traffic congestion is a problem, but at the same time KKians are yet to see concrete transportation plan for KK, and DBKK should be proactive and creative in solving the traffic issues there. We cant just solve traffic problems by simply developing new areas, urban sprawl will just aggravate it.
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Old June 2nd, 2013, 01:48 PM   #5978
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When the date of launching both of Kota Kinabalu Convention City and Sabah International Convention Centre would be held?
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Old June 2nd, 2013, 03:39 PM   #5979
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meaning the map Benz provided was wrong?
Not for me to say
It's just that the area indicated does not quite fit in description about an adjacent plot of land with an existing building
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Old June 2nd, 2013, 05:52 PM   #5980
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Originally Posted by benz View Post
Estimated location of KKCC by Mah Sing. I could be wrong on this as they did not stat whether its on land or sea.
its sad to see that area will be reclaimed....tats my favouite spot for fishing....i tot they will never reclaimed likas bay?
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