(From right) Sabah Housing and Real Estate Developers Association (Shareda) president Chew Sang Hai, Lee Chee Kiang, Chua, Chee Chi Vun and Penampang District Officer Robert Stidi performing the ground breaking ceremony for 360 Boulevard Bundusan.
KOTA KINABALU: A new integrated mixed development along Jalan Bundusan Penampang will boost business and investment growth in the district.
360 Boulevard Bundusan with a RM1.5 billion Gross Development Value (GDV), is developed by Homesign Network and Borneo Kemuncak Riang Sdn Bhd.
The artist’s impression of 360 Boulevard Bundusan.
Chief Minister Datuk Seri Shafie Apdal said at the ground breaking ceremony that with the 280,000 sqm of commercial space offered by 360 Boulevard Bundusan development, he believed it would be able to capture a big percentage of the tourism spending and generate various revenue streams to the state.
“360 Boulevard Bundusan will also benefit the surrounding community, especially the people of Penampang by offering more business, investment and job opportunities that will contribute generously to the state’s economic development.
“Not only that, this development will also transform and heighten the property development outlook of Penampang,” Shafie said in his speech which was delivered by Assistant Finance Minister Kenny Chua.
Shafie pointed out that property industry in Sabah has been changing rapidly and improved significantly over the years.
Developments in the infrastructure and tourism sectors have contributed positively to the property industry in Sabah, he said, adding that thanks to its beautiful mother nature, rich culture and people, the state’s tourism industry has been growing swiftly and attracted many investors from Peninsular Malayisa as well as from China, South Korea, Japan, Singapore and Hong Kong.
“The continuous improvement in the tourism sector has created demand for leisure property development. However, the number of leisure properties in the market is not sufficient to fulfill the growing number of tourist arrivals to the state. With increasing direct flights from China, we expect a higher number of tourist arrivals in time to come.
“We will need more of this kind of development as this booming leisure property development will be able to create a sustainable business model to stimulate the state’s overall economic development,” said Shafie.
Meanwhile Borneo Kemuncak Riang’s Sales and Communication director Clement Tsen disclosed that 360 Boulevard Bundusan offers approximately 280,000 sqm of commercial space that comprises 50,000 sqm retail space, an eight-hall cinema, an edutaiment centre with co-working space, hotel and two blocks of office tower as well as 750 units of serviced suites.
“It took us a few years to come up with this architectural design and planning that will be the first of its kind retail space in Sabah. We want to create a space where we can bring people from different background, culture and ages together to do things freely,” he said.
Therefore, a big courtyard space will be created at both wings of the development to allow people to connect and collaborate, Tsen said, adding that the development is expected to be completed in four years.
“We understand that people in Sabah need more infrastructure or destination that can bring excitement and vibrancy into their lives. This is one of the reasons why we decided to create the first edutainment centre in Sabah, a 2,500 sqm area that will be equipped with an engaging adventure park, a co-working space and a wellness centre with facilities such as a swimming pool and a gym.
“We believe that this edutainment centre will not only attract locals, it will also become a tourist destination in Kota Kinabalu,” he said.