Monday, June 11, 2007

Tourism hub set to lift Sabah real estate

SABAH'S rapid growth as an international tourism destination is fuelling the development of more international-class resorts and other real estate facilities.

If the momentum picks up, there will be more resorts joining the four main ones in Kota Kinabalu now – Shangri-La Tanjung Aru Resort, Shangri-La Dalit Bay Resort, Sutera Harbour Resort and Spa, and Nexus Resort Karambunai.

Sabah is blessed with abundant natural attractions such as Mount Kinabalu (the highest peak in South-East Asia), the world's oldest rainforest and one of the world's best diving spots, Sipadan.

Hotel occupancy rates and room rates have already been showing impressive growth in the last two years.

According to Karambunai Corp Bhd chief operating officer Datuk Robin Loh, most of the 5-star hotels register year to-date occupancy rates in the high 70% and will be overbooked during the peak season.

Continue reading at: Tourism hub set to lift Sabah real estate

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