K.T.I. Sdn Bhd and Sabah state housing agency Lembaga Pembangunan Perumahan & Bandar (LPPB) has embarked on a high-profile mixed development project in the affluent suburb of Luyang aimed at converting a derelict land into an upscale residential, commercial and lifestyle hub.
The Logg, funded by Sabah Development Bank, will see all three industry players being Sabah based, signifying the state financial institution’s capability and confidence to support Sabah’s property and construction industry without dependence on external funding to help spur the local economy.
A signing ceremony between K.T.I. and Sabah Development Bank was held on 8 December in Kota Kinabalu to signify financial support by the bank to help realise the project’s completion in the next four years. A two-day sales preview event held in conjunction with the event saw an encouraging 30% sales pick-up of the condominium units as interest in the project continues to grow.
YB Datuk Masiung Banah, LPPB Chairman and Rosemary Ahping LPPB GM (both standing in the middle) witnessing The Logg financing signing ceremony between SDB Chairman Datuk Pg Hassanel Pg Tahir (second from right) and KTI CEO Dr Gordon Loke (second from left) in the presence of Datuk Vincent Pung SDB MD & CEO and Mdm Chin Mee Leen KTI MD in Kota Kinabalu on 8th Dec 2021.
SDB’s funding also comes at an opportune time amid unprecedented shutdowns in the wake of Covid-19 that has severely impacted the construction industry and related trades and downstream industries in the state. This support has become symbolic of local industry players supporting each other to rise above these challenges and to remain optimistic of the future.
The Logg in Luyang will be the latest in a string of successful joint venture projects between K.T.I. and LPPB that has seen a number of public housing programmes and township developments in Beaufort, Kinarut, Tuaran and Papar.
K.T.I. has spent decades designing projects, researching techniques and implementing changes to the traditional norms of building construction. With completed projects in Kinarut spanning 50 acres to its on-going Tuaran development covering 168 acres, K.T.I. has built on its reputation as a progressive, innovative and dynamic property developer that puts a premium on quality affordable housing with a high market value in the future.
The Logg in Luyang will be a big step up with cutting-edge architectural design and modern lifestyle amenities to attract a new generation of homeowners. The Logg was conceived more than 8 years ago when it became obvious that Luyang needed a boost to revitalize its stagnant property development scenario to keep up with the needs of a growing population of new and more discerning home owners.
The choice of Luyang for the project was not only to capitalize on its prime location but also because Kota Kinabalu needed an upward shift in retail, luxury living and hospitality experience under one roof. The project will comprise of two towers of luxurious condominiums, Shore and Astoria, complemented by a shopping boulevard featuring a host of famous retail brands, a 4-star hotel and an apartment block surrounded by an intricately planned refreshing landscaped environment that is set to raise the standards of urban living in Kota Kinabalu.
A team of renown local and international consultants have been engaged to transform Luyang into a bespoke lifestyle destination sought after by both locals and tourists alike. The Logg in Luyang has created a buzz of excitement among urban lifestyle aficionados eager to experience the best life can offer and with progress firmly on track, it won’t be long before they can do just that.
For more information, you may visit https://www.thelogg.com.my/ .