LPPB President YB Datuk Mahsiung Banah and LPPB Managing Director Rosemary Ahping (both center) attend The Logg Funding Signing Ceremony between SDB President Datuk Pg Hassanel Pg Tahir (second right) and KTI CEO Dr. Gordon Loke (second from left) with SDB CEO Datuk Vincent Pung and KTI MD Mdm Chin Mee Leen.
Kota Kinabalu: KTI Sdn Bhd and Housing and Town Development Board (LPPB) have embarked on a high-profile mixed-use development project in the affluent suburb of Luyang to convert a derelict plot into a high-end residential, commercial and lifestyle center . The Sabah Development Bank (SDB)-funded Logg will see all three industry players based in Sabah, signifying the state financial institution’s ability to support the real estate and construction sector of Sabah without relying on external funding to help boost the local economy. A signing ceremony between KTI and Sabah Development Bank was held on December 8 here to signify the bank’s financial support to help achieve the completion of the project over the next four years.
A two-day sales preview event held in conjunction with the event saw an encouraging 30% upturn in condominium unit sales as interest in the project continues to grow. SDB’s funding also comes at an opportune time amid unprecedented shutdowns in the wake of Covid-19 which has severely impacted the construction industry and allied trades and downstream industries in the state. This support has become a symbol of local industry players supporting each other to meet these challenges and remain optimistic about the future. The Logg in Luyang will be the latest in a series of successful joint venture projects between KTI and LPPB which has seen a number of social housing schemes and township developments in Beaufort, Kinarut, Tuaran and Papar. KTI has spent decades designing projects, researching techniques and implementing changes to traditional building construction standards. With completed projects in Kinarut spanning 50 acres through to its ongoing Tuaran development covering 168 acres, KTI has built on its reputation as a progressive, innovative and dynamic property developer with a focus on quality affordable housing with a high market value in the future. .
The Logg in Luyang will be a big step forward with cutting-edge architectural design and modern lifestyle amenities to attract a new generation of owners. The Logg was conceived over eight years ago when it became apparent that Luyang needed a boost to revitalize its stagnant property development scenario to meet the needs of a growing population of new homeowners more demanding. The choice of Luyang for the project was not only to capitalize on its prime location, but also because Kota Kinabalu needed an upward shift in retail, luxury living and hotel experience under the same roof. The project will include two luxury condominium towers, Shore and Astoria, complemented by a shopping boulevard featuring a host of famous retail brands. It will also have a 4-star hotel and an apartment building surrounded by a refreshing and carefully planned landscaped environment that is expected to elevate the standard of urban living in Kota Kinabalu. A team of renowned local and international consultants have been engaged to transform Luyang into a bespoke lifestyle destination sought after by locals and tourists alike.
The Logg in Luyang has created a buzz of excitement among urban lifestyle aficionados eager to experience the best that life has to offer and with progress firmly on track, it won’t be long before they can. To do. * Follow us on instagram and join our Telegram and or WhatsApp channel(s) for the latest news you don’t want to miss.