The Covid-19 pandemic has had a devastating effect on countries the world over. It has been especially hard on China, which finally reopened its borders on Jan 9.
KUALA LUMPUR (Nov 1): S P Setia Bhd took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). The developer has taken the No 1 spot for the fourteenth time, ever since the awards were established in 2003. S P Setia Bhd also took the top spot in the Best in Qualitative Attributes sub-award.
Gamuda Land CEO Ngan Chee Meng is a busy man. Immediately after ending a meeting, he sat down with us to talk about the international expansion plans for the next five years of the company, which has just reported sales of RM4 billion for the financial year ended July 31, 2022 (FY2022). “We started the [expansion] plans about a year ago and some of them are already ongoing,” he tells City & Country during an exclusive interview at the developer’s office in Menara Gamuda at PJ Trade Centre.
1MDB-Tanore Trial: A guaranteed letter of support theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Launched in January 2019, the Jesselton Twin Towers development by Kota Kinabalu-based real estate developer Jesselton Waterfront Holdings Sdn Bhd is currently 55% taken up.
According to executive chairman Tan Sri David Chu, around 20% of the buyers are foreigners, mainly from China, Hong Kong, South Korea, Brunei and other neighbouring countries. “A couple of them are from the US and the rest are local Sabahan, with a few from Sarawak and Kuala Lumpur,” he says via an email interview.
Chu says foreign buyers, in particular, look for iconic buildings with sea and sunset views as well as those in a safe or gated-and-guarded environment when investing overseas. “Jesselton Twin Towers meets all these criteria. With the Consulate General of the Republic of China’s Kota Kinabalu office located across the road from the development and with China State Construction Engineering Corp Ltd as [the main contractor], Jesselton Twin Towers has attracted many foreign buyers, especially th