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- The acquisition was first announced in May, positioning Titijaya as the white knight for the long-stalled project involving Blocks B1 and B2 of Kolej Kediaman Pelajar UMS Numbak.
KOTA KINABALU (Nov 24): Titijaya Land Bhd (KL:TITIJYA) has proposed the acquisition of two property assets in Kota Kinabalu, Sabah, for RM105 million to revive an abandoned student hostel development at Universiti Malaysia Sabah (UMS).
According to a press statement on Monday, the acquisition was first announced in May, positioning Titijaya as the white knight for the long-stalled project involving Blocks B1 and B2 of Kolej Kediaman Pelajar UMS Numbak.
“We are proud to have been selected as the white knight to revive this project, marking our third successful revival of an abandoned or sick project in Sabah,” said Titijaya group managing director Datuk Lim Poh Yit in the statement.
The project, which was left incomplete for years, will be revived to deliver student accommodation that the company says will be safe, comfortable and affordable.
Titijaya also highlighted that the initiative is aimed at addressing the shortage of quality student housing at UMS, which currently has over 18,000 students.
The development is also framed as a private-public partnership intended to foster collaboration between the government, industry and educational institutions.
On Saturday, Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir visited the Block B1 and B2 project site, accompanied by UMS vice-chancellor Professor Datuk Dr Kasim Mansor and Titijaya's senior management.
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