Dr Sabin (fifth left) handing over the OC for Jesselton Twin Towers to Chu while from left, Ryan, Fung, Liaw, Samson, Thong and Lo look on.
KOTA KINABALU (Mar 12): Jesselton Twin Towers, the tallest building in Borneo, officially obtained its Occupation Certificate (OC) on Tuesday.
The announcement was made by Jesselton Properties, a subsidiary of Jesselton Group, at the issuance of the OC by the Mayor of Kota Kinabalu City, Datuk Seri Dr Haji Sabin Samitah, to the Executive Chairman of Jesselton Group, Tan Sri Datuk David Chu, here.
Chu extended his appreciation to Dr Sabin and the officers in recognizing the completion of the Jesselton Twin Towers after the authority conducted inspections for OC application.
He also expressed his gratitude to the hard works of the team including the consultants, namely UIG Architects, Arkitek Bilings Leong & Tan, Meinhardt Group Malaysia, Jesselton Consulting Group, PEM Consult, Perunding Ukur Bahan AL, Pamscapes Consultant, HVK Design Group, the main contractor China State Construction Engineering Malaysia, sub-contractors, suppliers and the project team who have dedicated their efforts to complete the iconic project.
The iconic Jesselton Twin Towers offers its residents mesmerizing sea and mountain views.
The 56-storey Jesselton Twin Towers with a total of 819 units started its construction in January 2019.
“Although the Covid-19 pandemic had severe negative impacts on the global economy and affected the sales revenue and cash flow of the project, particularly in year 2020 and 2021, Jesselton Properties has been working hard in dealing with its financiers to ensure prompt payments to the main contractor, and eventually prompt payments to the sub-contractors and suppliers to ensure the project continued to progress during that difficult time.”
Chu said constructing the 56-storey building was no easy feat as it required a different approach in engineering and construction.
“We had faced a lot of obstacles during the pandemic, as well as the increase in the cost of building materials of up to 40 per cent.
“But what matters is that we are able to complete the project for our buyers to move into their new homes,” he said.
Jesselton Twin Towers has won “The Borneo Star Award” at the StarProperty Awards 2019. The award for the “Best East Malaysia Development” received in the event featured more than 20 top developers with the best developments in Malaysia served as a recognition to Jesselton Twin Towers’ planning, design, construction and strategic location.
Jesselton Properties has also appointed Knight Frank Malaysia, a leading property management company with extensive experience in managing residential and commercial properties, as the exclusive property manager for Jesselton Twin Towers.
Jesselton Twin Towers is located strategically between Jalan Lintas highway and Jalan Damai, and is a mere 10 minutes’ drive to the city centre as well as the Kota Kinabalu International Airport (KKIA). It is surrounded by amenities such as specialist hospitals, top private schools, shopping, recreations and the 18-hole Sabah Golf and Country Club.
Chu said almost 80 per cent of the units have been taken up with around 15 per cent of the buyers are foreigners mainly from China, Hong Kong, South Korea, Brunei and other neighbouring countries.
With the issuance of the OC, the notice of Vacant Possession or the notice of handing over of keys to the purchasers is expected to be issued in April 2024.
On a separate note, Chu, who is also the chairman of Sabah Economic Advisory Council (SEAC), said the State Government is expected to make an announcement on the Sabah-Malaysia My Second Home (SBH-MM2H) policy next month.
He believed that the SBH-MM2H policy will make Sabah more attractive to foreigners compared to Sarawak and West Malaysia.
“The policy will augur well for property developers as it requires foreigners to purchase high-rise residential property priced from RM600,000 and above in order to be eligible for SBH-MM2H.”
Also present at the event were Jesselton Group Directors Ryan Chu and Samson Chu, Group Chief Executive Officer Kevin Thong, architect Jeremy John Lo, Kota Kinabalu City Hall (DBKK) Planning Director Tantinny Fung and DBKK Building Director Kalvin Liaw.
