MALAYSIA'S most valuable property company, SP Setia Bhd, has unveiled plans for its first venture in Sabah, a RM1 billion mixed development project in Tanjung Aru. Under the agreement, SP Setia will build a transport terminal and new headquarters and ancillary buildings of Jabatan Keretapi Negeri Sabah on part of 24 hectares near the Tanjung Aru township and the Kota Kinabalu International Airport. In return, it will have the rights to develop the balance of 17ha into a mixed residential and commercial project, named Aeropod @ Tg Aru. The project will have a shopping mall, a five-star as well as a three-star hotel, and residential condominiums, among other developments.
(30-1-2008 New Straits Times)
