KUALA LUMPUR: The multi-million ringgit Sandakan Harbour Square is set
to transform Sandakan from a sleepy town mostly known for its orang utan
sanctuary and natural attractions into a modern, dynamic city on the
east coast of Sabah.
The seafront urban renewal project, comprising commercial shops and
offices, an international hotel and shopping mall, as well as a new city
square and waterfront esplanade, will provide ample business
opportunities, jobs and space for recreational and social functions.
Ireka Development Management Sdn Bhd (IDM) president and chief executive
officer, Lai Voon Hon, said the project aims to rejuvenate the central
business district (CBD) of Sandakan.
"The general topography of Sandakan is limited by the sea and hill at
the front and back of the town, leaving limited suitable land for town
development. This has resulted in almost no new property development
projects in the CBD in the last 20 years," he told Business Times.
The project, managed by IDM and supported by the Sabah government and
Sandakan Municipal Council (MPK), covers 4.8ha land, including land
reclamation.
Lai said the project is IDM's flagship project in East Malaysia.
IDM, a wholly-owned subsidiary of Ireka Corporation Bhd, is the
development manager for London-listed Aseana Properties Ltd. Aseana,
which has property developments in other parts of Malaysia and Vietnam,
is an associate company of the Ireka Group.
Lai said as an urban redevelopment project, "the Sandakan Harbour Square
will be a catalyst for the modernisation of the town, with the aim of
turning it into a tourist destination and a bustling commercial centre".
He said the third and the final phases of the project, comprising
Harbour Mall Sandakan and Four Points by Sheraton Hotel, will be
completed by year-end and early next year.
Between 3,000 and 4,000 jobs are expected to be generated by the mall
and hotel, which has gross development value of RM510 million.
Among the confirmed tenants for the mall are Parkwell Departmental Store
& Supermarket, Tomei, Bata, SoxWorld, GNC, Levi's, The Body Shop,
Jeff Eyewear Space and Gintell.
At the same ceremony, MPK president Datuk James Wong said the education
hub, which covers 600ha land, will be home to 15,000 people. By Business Times
