RM7 bil Sabah beachfront project will fail, says Rahman Dahlan
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Title : RM7 bil Sabah beachfront project will fail, says Rahman Dahlan
Category : Malaysians
An artist’s impression of the proposed RM7 billion project, which is set to transform the Putatan coastline in Sabah.KOTA KINABALU: An Umno Supreme Council member today raised the red flag over state plans to build yet another multi-billion ringgit beachfront project. Abdul Rahman Dahlan, who is also the Tuaran Umno chief, warned of the possibility of Sabah Foundation getting trapped in a failed venture due to the gloomy real estate market globally. Rahman said this in reference to the RM7 billion beachfront venture near Meruntum, Lok Kawi, in Papar state by state-owned Sabah Foundation and private firm, Tegas Bangsa Sdn Bhd, inked yesterday. “This project will certainly be impacted by the gloomy real estate and housing situation all over the world, including Sabah. If this project is hit by this, Sabah Foundation will be trapped in a project that is not competitive. “The land own…
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