Titijaya Formalises Collaboration With China's CREC For RM575 Mln Project In Sabah

KUALA LUMPUR, May 15 (Bernama) -- Property developer, Titijaya Land Bhd is collaborating with CREC Development (M) Sdn Bhd (CRECD) in a property development project known as The Shore in Kota Kinabalu, Sabah with gross development value of RM575 million (US$132.6 million). The project is expected to be completed within 48 months from the commencement of construction, it said in a statement here Sunday. CREC is one of the world's largest construction companies and also Titijaya’s joint-venture partner in a project at Embassy Row at Jalan Ampang here. "We are honoured to have CREC's trust to work together for the second project. Jointly, we will be tapping into the growing property market in Sabah and aim to attract more investors from China, particularly those who favour the commercial and residential property industry, as well as investments in hospitality properties,” said Titijaya Group Managing Director Lim Soon Peng. The Shore is a new waterfront premium class hub comprising luxury mixed-use commercial components docked within a prime waterfront enclave of Kota Kinabalu, Sabah. (US$1 = RM4.33) -- BERNAMA