Titijaya holds a groundbreaking ceremony for The Shore @ Kota Kinabalu

Titijaya holds a groundbreaking ceremony for The Shore @ Kota Kinabalu

• GDV of RM575 million

• Expected completion date by 2022

• Groundbreaking held 4 months after the signing ceremony

KOTA KINABALU, 11 JULY 2017 – Titijaya Land Berhad (“Titijaya” or “Company”), a Bursa Malaysia Main Market Listed Company involved in property development, has today held a ground-breaking ceremony of The Shore – A New Waterfront Premium Class Hub in Kota Kinabalu, Sabah (“The Shore” or “Project”). The Project, which has a gross development value (“GDV”) of RM575 million was duly witnessed by the Minister of Local Government and Housing of Sabah, Y.B. Datuk Seri Panglima Haji Hajiji Haji Noor.

Taking up 1.82 acres, The Shore is situated in the prime area of Sabah, an attractive tourist destination strategically located within Kota Kinabalu’s central business district. The project will be 25 storeys tall and comprise 561 units in built-ups ranging from 409 sq.ft. to 541 sq.ft., with price tags starting from RM453k.

It is a new waterfront premium class hub that entails luxury mixed-use commercial hub docked within a prime waterfront enclave of Kota Kinabalu. Its unique U-shape design makes it the first of its kind within the vicinity. Upon its completion, The Shore will offer better-quality accommodation to the local community, boost Sabah’s business and spur tourism activities.

Speaking after the ceremony, Titijaya Land Berhad Deputy Group Managing Director Mr Lim Poh Yit said: “With this ground-breaking ceremony, we are officially opening a new chapter in the corporate history for Titijaya – expanding our presence to Sabah. We are thrilled that it is just 4 months after the signing ceremony, and we are able to conduct the groundbreaking ceremony. We truly appreciate the strong support by the state government and the Ministry of Local Government and Housing of Sabah. It is indeed the result of tremendous work from all the parties”.

Titijaya is confident that The Shore will create another iconic landmark here in Kota Kinabalu, and will be an appealing tourist spot in Sabah, especially with the support from Sabah’s state government in new developments. Moreover, the existence of direct flights from various countries to Kota Kinabalu is an added benefit.

“At Titijaya, we foresee the positive demand for The Shore buttressed by the commendable economic growth and increasing population in the past few years especially in Kota Kinabalu, making it a new growth frontier as the property market matures in the region. We are honoured to introduce the first full-fledged serviced residence in Kota Kinabalu. The Shore will definitely be a great boon to Sabah’s tourism industry. Let us look forward to the completion of The Shore in 2022. We hope that going forward, there will be more opportunities for us to partake in the development of Sabah,” he added.

The Shore is situated at the heart of Kota Kinabalu, includes the highest observation deck in Borneo and the first rotating skybar in Kota Kinabalu. It is expected to be driven by its strategic location – 15-minute drive from Kota Kinabalu International Airport, its high accessibility to the commercial centres and nearby amenities around the neighbourhood.

 

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