Taiwan’s largest real estate company plans to invest over RM 1 billion in Mengalum Island
KOTA KINABALU (October 13): The government of the state of Sabah welcomes the plan of the largest real estate company in Taiwan, the Sinyi Realty group, to build an ultra-luxurious five-star ecotourism resort here on Mengalum Island, estimated at over RM 1 billion in total development.
Chief Minister Datuk Seri Hajiji Noor said he was happy that the real estate company chose to invest in Sabah, as tourism is very important for the state, the sector being identified as one of the three main axes of development. by Sabah Maju Jaya (SMJ). plan.
“Sabah is one of the most beautiful states in Malaysia and we have so much to offer in terms of investment in the tourism sector,” he said in a statement during a meeting with Sinyi Realty in Menara Kinabalu here on Wednesday.
He said, in accordance with the SMJ, he assured Sinyi Realty that the state government would provide the necessary assistance to facilitate the investments of the company.
Earlier, Sinyi Realty Chairman Chou Chun Chi expressed gratitude to the state government and the chief minister for supporting the business, and the development of Mengalum Island is expected to capture the market. niche of high-end tourism.
“It will provide around 2,400 job opportunities for locals and is expected to attract 97,000 tourists to Sabah each year,” he said.
After acquiring more than half of the island for RM266 million in 2019, Sinyi Realty plans to restore the arid part of the island through reforestation as well as rehabilitate surrounding coral reefs damaged by fish bombardment.
Mengalum Island was a quarantine center for livestock until 1997 and before the Covid-19 pandemic, the island, which is about an hour and 15 minutes by boat from the state capital, was popular mainly among Chinese tourists.
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