Mahdzir and Azizah during the press conference.
KOTA KINABALU (Nov 30): MARA Corporation Sdn Bhd (MARA Corp) through its subsidiary MARA Incorporated Sdn Bhd (MARA Inc.) will be constructing a 441-unit chain of condominium at Signal Hill here.
The project will be constructed on 5.48 acres of land near Taman Fantasi at Signal Hill.
Rural Development Minister Datuk Seri Mahdzir Khalid told a press conference that the value of the project is about RM500 million and is expected to commence in the first quarter of next year.
It is expected to be completed in three years, he said, adding that the condominium project is the first for MARA Corp in Sabah.
To the question why MARA Corp chose Sabah for the project, Mahdzir said among the factors was the state’s strategic location.
“Sabah which has much to offer in terms of nature, flora and fauna is a popular destination for foreign tourists and the condominium when completed, can attract them to participate in the Malaysia My 2nd Home program,” he said after the project’s ground breaking ceremony by Chief Minister Datuk Seri Panglima Hajiji Noor on Tuesday.
In his speech earlier, Mahdzir said that the project is expected to provide about 2,000 job opportunities for Sabahans.
“Not only that, this project will also provide opportunities for construction contractors, project consultants and property marketing companies as well as provide opportunities for bumiputera entrepreneurs affected by the Covid-19 pandemic,” he added.
Mahdzir said the project will also be able to revive the economy and construction industry in Sabah, especially during the recovery phase from the Covid-19 pandemic.
“The condominium development project offers a total of 441 residential units with a modern lifestyle that emphasizes the safety of its occupants. It also has 14 units of shop lots with an area of almost 20,000 square feet.
“In addition, the Signal Hill condominium also has two residential towers that will be built on seven floors of the podium and equipped with facilities such as swimming pool, children’s playground, BBQ facilities and gymnasium,” he said.
The residential project will also have an Air Platform (Sky Deck) for its residents to enjoy the view of the city of Kota Kinabalu in addition to the concept of green development with earthquake-proof structure design.
“Through this joint project development venture, MARA Inc. has taken another step, which is to strengthen development in the construction and real estate sector in Sabah as well as increase knowledge and experience in the development of premium real estate projects,” he said.
Also present at the ground breaking ceremony were MARA Chairman Datuk Seri Panglima Azizah Mohd Dun, Rural Development Ministry’s Chief Secretary and MARA Director General Datuk Azhar Abdul Manaf.
On another note, Mahdzir disclosed that MARA has allocated RM40 million to assist Bumiputera entrepreneurs from rural areas in Sabah.
The allocation, he said, has been disbursed to 500 entrepreneurs through the MARA office in their respective areas.
“Our focus is on strengthening rural Bumiputera entrepreneurs through MARA district offices. MARA also has bazaars, shop lots and MARA arcades which are rented to Bumiputera entrepreneurs,” he said.
Mahdzir explained that apart from the education aspect, MARA and KPLB also gave special emphasis to the agenda of empowering Bumiputera entrepreneurs in rural areas.
“MARA is an agency under the Ministry of Rural Development that takes the initiative in the bumiputera entrepreneurship agenda program apart from TVET education,” said Mahdzir.