7 August 2014, Sabah (Malaysia) – Knight Frank Malaysia today launches a new office in Kota Kinabalu, Sabah, being the first independent global property consultancy to enter the East Malaysia real estate market. The new Sabah office will cover the Sabah market with its key service lines including valuations; project marketing; research and consultancy; commercial and residential property management; commercial and residential agency; and retail consulting and leasing.
Sabah is quickly gaining regional interest from major real estate developers and investors. Some of the key factors driving the increase in interest in the Sabah real estate market include the region’s lower capital value base; availability of financing; low interest rate environment; and a transparent legal and title system.
Performance across tourism, agriculture and aquaculture, and oil and gas sectors have been a catalyst for urban and rural property development, both for domestic demand and the increasing number of expatriate relocations to Sabah.
Also spurring development and property values in Kota Kinabalu is an expanding population, which is estimated to grow to more than 1 million by 2020 according to the Sabah Economic and Development Investment Authority (SEDIA). Fuelling this is migration from within Borneo as well as internationally, supported by Malaysia My Second Home (MM2H) applications and the growing oil and gas industry which is expected to create more than 23,000 jobs.
Mr Ginn Lai, Associate Director, Knight Frank Malaysia (Sabah Branch), says, “As the rest of developed Asia struggles with heated property markets, Sabah is at the tipping point with a confluence of Borneo's unique offerings and strong property drivers. Sabah today is well on its way to becoming an international hotspot for travellers and savvy investors. Blessed with an equatorial climate of year long summer days, amazing sunsets and virgin beaches, the world’s oldest rainforests and cool mountain ranges, it is hard for Sabah not to be on the radar of neighbouring Asian cities – most of which are within a five-hour direct flight of the state’s gateway in Kota Kinabalu.”
Mr Sarkunan Subramaniam, Managing Director, Knight Frank Malaysia, says, “This is indeed an exciting time for Knight Frank Malaysia. This opportunity allows us to extend our boundaries into new frontiers and take our property services to new levels. We’re enthused and honoured to be able to bring international standards of the property industry to Sabah, we believe the state will flourish from our expertise in key service lines; Commercial Agency, Investment Sales, Retail Consultancy & Leasing, Project Marketing, Residential Agency – Sales & Leasing, Residential & Commercial Property and Project Management, Valuation and Research and Consultancy.”
For further information, please contact:
Ms Pamela Phua, Marketing Executive, Knight Frank Malaysia
firstname.lastname@example.org +603 2289 9669 +6012 299 6663 @KnightFrank_my
Ms Rachel Loke, Head of Asia Pacific Public Relations & Communications, Knight Frank Asia Pacific
email@example.com +65 6429 3587 @knightfrank