By Property Hunter
clock 15-10-2021
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Sabah Receives RM1 Billion Investment From Taiwan’s Largest Real Estate Company

The Taiwanese real estate group, Sinyi Realty Group, is investing RM1 Billion into Sabah’s tourism with plans to build a luxury five-star ecotourism resort on Mengalum Island, a popular tourist destination for Chinese tourists just before the pandemic.

The Sabah state government welcomes this investment with Sabah Chief Minister Datuk Seri Hajiji Noor offering their necessary support as the tourism sector is one of the three main thrusts in the Sabah Maju Jaya (SMJ) development plan.

In a statement this Wednesday, he said, “We are delighted that Taiwan’s largest real estate company has chosen Sabah for their investment. We have so much to offer in terms of investments in the tourism sector.”

Sinyi Realty Group acquired more than half the island for RM266 million in 2019 and plans to restore much of the land and coral reefs through reforestation and restoration.

Chou Chun Chi, Chairman of Sinyi Realty, stated that the proposed resort will capture the high-end tourism market.

“Once completed, it is expected to provide about 2,400 job opportunities for locals and bring in 97,000 tourists to Sabah annually,” he said.

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