Taiwan's Largest Real Estate Company Plans To Invest Over US$240.27 Million In Malaysia's Mengalum Island

KOTA KINABALU (Sabah, Malaysia), Oct 13 (Bernama) -- Malaysia’s Sabah State Government welcomes the plan by Taiwan’s largest real estate company, Sinyi Realty Group, to build an ultra-luxury five-star eco-tourism resort at Mengalum Island, here, estimated to cost over US$240.27 million (RM1 billion) in total development. (US$1 = RM4.16) Chief Minister Hajiji Noor said he was happy that the real estate company had chosen to invest in Sabah as tourism is very important for the state and the sector was identified as one of the three main thrusts in the Sabah Maju Jaya (SMJ) development plan. “Sabah is one of the most beautiful states in Malaysia and we have so much to offer in terms of investments in the tourism sector,” he said in a statement in conjunction with a meeting with Sinyi Realty Group here Wednesday He said in line with the SMJ, he assured Sinyi Realty Group that the state government would provide necessary assistance to facilitate the company investments. Mengalum Island used to be a cattle quarantine centre until 1997 and before the COVID-19 pandemic, the island, which is about an hour and 15 minutes boat ride from the state capital, was popular mostly among Chinese tourists. -- BERNAMA