Real estate company

Taiwan’s largest real estate company plans to invest over RM 1 billion in Mengalum Island

KOTA KINABALU (October 13): The Sabah state government welcomes plans by Taiwan’s largest real estate company, Sinyi Realty Group, to build an ultra-luxury five-star ecotourism resort here on Mengalum Island, the cost of which is estimated at more than one billion RM in total development.

Chief Minister Datuk Seri Hajiji Noor said he was happy that the real estate company chose to invest in Sabah as tourism is very important to the state, with the sector identified as one of the three main areas for the development of Sabah. Sabah Maju Jaya (SMJ). plan.

“Sabah is one of the most beautiful states in Malaysia and we have so much to offer in terms of investment in the tourism sector,” he said in a statement in conjunction with a meeting with Sinyi Realty in Menara Kinabalu. here Wednesday.

He said that in line with the SMJ, he assured Sinyi Realty that the state government would provide necessary assistance to facilitate the company’s investments.

Earlier, Sinyi Realty Chairman Chou Chun Chi expressed his gratitude to the state government and chief minister for supporting the company, and the development of Mengalum Island is expected to capture the niche. of the high-end tourism market.

“It will provide around 2,400 employment opportunities for locals and is expected to attract 97,000 tourists to Sabah every year,” he said.

Having acquired more than half of the island for RM266 million in 2019, Sinyi Realty plans to restore the barren part of the island through reforestation and rehabilitate surrounding coral reefs damaged by fish shelling.

Mengalum Island was a quarantine center for livestock until 1997 and before the Covid-19 pandemic, the island, which is about an hour and 15 minutes by boat from the state capital, was mainly popular with Chinese tourists.

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