ASEAN Finance / Xinyi Realty Subsidiary Accelerates Tourism Business, Developing Real Estate in Sabah, Malaysia

Xinyi Realty announced today that its subsidiary in Sabah, Malaysia, ZhanCheng Tourism Development Sdn.Bhd. (East Malaysia Xinyi), will undertake a construction project for real estate, with a total investment of approximately NT$543 million. This initiative aims to boost tourism business and is part of Xinyi Realty's overseas tourism strategy. The project is scheduled to run from May 17, 2024, to June 15, 2027, covering an area of 27,444 pings (approximately 90,725 square meters). Xinyi Realty has a prior presence in Sabah, having partnered with InterContinental Hotels to establish the InterContinental Resort Sabah Kota Kinabalu and its other subsidiary, Xin Qun, acquired a majority of the land on Pulau Mengalum in 2019. Sabah, located in northern Borneo, is a renowned tourist destination, attracting many visitors for activities such as diving and mountain climbing. 1150407