KOTA KINABALU: The first five-star hotel in Kundasang is set to be built on the foothills of Sabah’s iconic Mount Kinabalu.
The RM300mil Royal Kinabalu Mountain Resort will have 494 rooms and suites, half of them to be sold for private ownership akin to the time-sharing concept. Each unit costs between RM800,000 and RM1mil.
At the sales launch yesterday, only five units of the 280 hotel suites for private ownership were available following heavy bookings from a pre-launch marketing drive around the state.
“We have a waiting list of about 40 buyers,” Kinsabina Sdn Bhd managing director Francis Goh said at the launch by state Tourism, Culture and Environment Minister Datuk Masidi Manjun.
He attributed the success to the guaranteed returns of at least 6% rental yield or profit-sharing from the room revenue pool in the next 15 years.
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