KUALA LUMPUR: A proposed 5-acre education hub will be developed in the Alamesra township in Kota Kinabalu.
The proposed project consists of a five-storey office tower, a 27-storey serviced apartment tower, a 7-storey boutique hotel, a medical centre housed in two blocks of 5-storeys and other facilities such as a gymnasium, sundry shops and recreational facilities. It will be developed by the commercial arm of University Malaysia Sabah (UMS), UMS Link Holdings Sdn Bhd (ULink) starting from February next year.
Located on a prime site within Alamesra, the pristine education hub facing the popular 1Borneo Hypermall will be called UMS Link International Precinct. Scheduled to be completed in 2015, the project will be developed on s private funding initiative amounting to approximately RM172.2 m.
ULink director Prof Dr Roselina Ahmad Saufi said the project will be developed using the Purchase, Built, Lease and Transfer (PBLT) model. She was speaking after the signing of the Sale and Purchase Agreement in respect of the 5-acre land between Lintasan Mayang Development Sdn Bhd and Goldenmas Development Sdn Bhd on July 22, 2011.
Goldenmas Development will after acquiring the plot from Lintasan Mayang Development, the land owner and developer of Alamesra, develop the said project and subsequently lease it to ULink for a period of 30 years, after which the property and land ownership will be transferred to Ulink.
The site is part of the commercial plot known as Alamesra Plaza Utama, a 23.2-acre commercial land fronting the Sulaman Coastal Highway.
Also present at the signing were Lintasan Mayang Development executive director Eddie Chai, Goldenmas Development directors Lee Ah Soo and Mustafa Kamil Mohamed, ULink Group chairman Datuk K Y Mustafa and senior group manager for corporate services, legal and governance Yusak [email protected]
The concept of the building design shall reflect a "Techno-Tourism" concept that portrays modernisation and innovation. ULink targets to build the office tower and serviced apartments first. The tower will eventually be used as its corporate office. It will also house the office premises and classrooms for the UMS Centre for External Education (UCEE), UMS Link Centre for professional development.
The student tower/serviced apartment tower is expected to house 2,000 students upon completion, said Rozelina.
The proposed medical centre will offer general medical services, and will accomodate 100 beds, while the boutique hotel will have 74 rooms. There are plans for the hospitality and medical students at UMS to do their practical studies at these facilities.
It has been observed that the value and favourability of the properties within Alamesra had enjoyed considerable appreciation in value over the past few years. Goldenmas Development project director Willy Lee estimates that the project would generate nearly RM700 million in rental revenue over the 30-year lease term before ownership of the properties and land are transferred to ULink.
TOP PICKS BY EDGEPROP
You buy Property , We Help you pay installments !
Mont Kiara | New Condo Below Market Price
Mont Kiara, Kuala Lumpur
Kota Damansara | Freehold Condo Walk To UNIVERISTY
Kota Damansara, Selangor
[ READY TENANT INVEST] New Township Between Cyberj
Build your own semi d / bungalow in ampang
Cyberjaya | Cash Back Up To 35K New Condo
Cyberjaya DUAL KEY CONDO FREE FURNISHED+RENOVATED
Richmond Mont Kiara 4 rooms 3 bathrooms
Mont Kiara, Kuala Lumpur
[ Confirm Rental Get RM 3000 ] Students Condo
Suria Residence Breezy Modern Condo facing Pool
Bukit Jelutong, Selangor
Student Rental RM1800 Cover Instalment! Freehold
Ukay perdana sierra hijauan ampang semi d
Petaling Jaya | New Invest Condo Beside University
Petaling Jaya, Selangor
[ READY TENANT+ COVER INSTALLMENT ] Hotel Suites
[ Europe Style Duplex Condo ] ROI 9% Cash Back
Sunway @ New Dual Key Condo Walk To University
Bandar Sunway, Selangor
You Buy property , We help you pay Installments !!
Nilai, Negeri Sembilan
Cheras Semi D Below Market Price Left *7Units*
Cheras, Kuala Lumpur
Ukay perdana house for sale 5 rooms 5 bathrooms