KOTA KINABALU (Nov 12): Lahad Datu is currently one of the fastest-developing areas in Sabah despite facing a dark chapter in its history following the incursion of Sulu militants into Kampung Tanduo in February.
The establishment of the Eastern Sabah Security Command headquarters in Lahad Datu to further enhance security has reassured investors of the district’s plans to turn it into an economic powerhouse and a municipality by 2015.
In a statement today, Palm Oil Industrial Cluster (POIC) Senior Manager of Corporate Affairs, Lynette Hoo, said the palm oil industry has been the key to the rapid growth in consumer power experienced in the district in recent years.
Hoo said the government’s financial backing in infrastructure development to expand the district’s logistical connectivity with the rest of the world by developing an integrated port comprising an oil terminal, a bulk terminal and container terminal, has made doing business in Lahad Datu appealing.
The government’s commitment to develop the palm oil industry in Lahad Datu has attracted other investors to develop social amenities, thus upgrading the livability in the district, she said.
“POIC Lahad Datu, with about RM4.5 billion in investments in various stages of implementation, is credited as the catalyst of the district’s recent fast-paced development.
“The development in POIC will contribute substantially to the revenue collection of the Lahad Datu District Council which, as it stood in 2012, has already qualified to seek elevation to municipality status by exceeding RM21 million in revenue,” she said.
Project Manager (East Malaysia) of Big House Management Services, Weily Liew, said demand for property in Lahad Datu would continue to grow due to the oil palm industry and tourism-driven investments.
Michael Hiew, Director of property exhibition organiser, Maxx Media Sdn Bhd, said as a result of the developments in Lahad Datu, initiated by the government and private sector, the township was poised for growth in the long term.
He said the company will be holding its flagship exhibition, Property Hunter
Expo in Lahad Datu on Nov 29 to Dec 1 at Dewan Sri Perdana, Lahad Datu.
“We are confident of the interest of local investors in Lahad Datu properties,” he said. He said the exhibition will be the first partnership between Maxx Media and the Sabah Housing and Real Estate Developers Association. – BERNAMA