Promising Likas

Likas is only about 3KM from KK city centre and squeeze between central development like Damai, Luyang & Penampang area while South development like Kingfisher, Kingfisher Sulaman, 1 Borneo and Indah Permai. Likas previously known as kampong Likas has change its face into mix development area especially for residential and commercial. It is one of the “MUST OWNED” property area especially for investor like me. There are few reasons why I say Likas is Jewelry for Sabahan. 

       a. Occupying 70% of major Schools in KK

Unmoveable School

Believe it or not it’s up to you, but it’s a fact that Likas occupying 70% of the major schools in KK. Below are the lists of the schools:

1. Tshung Tsin Secondary School 
2. Kian Kuok Middle School
3. Lok Yuk Secondary School
4. Chung Hua Primary School
5. All Saints Secondary School
6. Shan Tao Secondary School
7. St James Primary School
8. SMK Likas
9. SMK Agama (under construction, next to Mosque Likas)
10. Sinaran College
11. Master Skill College

I know a lot of us dislike staying near to schools as the traffic flow is damn busy especially early in the morning and afternoon time. But for me I love to buy properties near to this school as its will be occupied by good tenant especially teachers and lecturer while the property will enjoy stable and steady appreciation. Look at Indah Court and Lucky Height Condominium, in less than 1 year the prices has been steadily rising above RM200K per unit depending on floor size, renovation, and floor. Not to mention there is less and less landed properties for sale advertise in the local newspaper which already indicating that a lot of people has awake from dreaming. So instead of selling why not wait another 3 years? I bet you will earn more than what you expected now.

       b. Proximity to town & surrounded by matured Chinese community

All of us should agree that Likas will continue to grow looking at its distance to the town and close proximity to a lot of major residential, commercial i.e. 1Borneo Hyper Mall and government department like Hospital Likas and SMC. Talking about General Hospital, last month I met a doctor who employed under Kementerian Kesihatan Malaysia intend to purchase a property for own occupancy at Telipok area which is about 20Km from his workplace at Likas and about 25Km from KK city centre. Is there anything wrong purchasing property at Telipok? No but… he has to bear a long term pain of:

1. Wasting “time” as the traveling about 40KM everyday which might took easily 45Minutes excluding potential traffic jam!!
2. Wasting money especially long term petrol expenses and high repairing cost!! 
3. Wasting energy, why not spend more quality time with family!!

 The 3”W’s” above will be long term commitment for him. Anyway it’s his choices. I remember I told you all about one of my client who purposely move from Iramanis to Bay Shore just to make sure she can have more time with her kids who studies at Likas area even though she need to pay RM2500 rental per month!!

        c. Surrounded by new upcoming major development

Lifestyle Condominium to be Built

Likas only left with few pieces of fantastic and prime land for high rise residential and commercial development. Coming years you can no longer hope for landed residential properties within LIKAS area as developer will “capitalize” their land to the fullest. Look at KK Megamall project which has been took over by Kuok Group, the project is the last biggest flat land available in Likas facing the sea and backup by Mountain View. I heard the new owner will launched the project soon with GDV exceeding RM3B. I think it will be the hottest property ever launch at KK after 1Borneo Hyper Mall.  Other high rise residential projects under planning are along Jalan Tuaran, Jalan Damai, and few around Signal Hill area. Not only that another beautiful flat land at Likas is near to Chung Hwa Primary schools which owned by Sandakan Oil palm tycoon also submitting plans for high rise residential. He bought it for not less than RM 50M @ RM 70 per sf so I think he will easily launch his condominium at RM500 per sf within the next 24 month. Looking backwards this area was offered to my client grandmother for free with annual assessment fees of less than RM1 per acre back in 1940’s. She declined the offers due to the annual assessment fees which she need to commit as long as she hold the land. Imaging if you are given such opportunity to own it, say 10 acres? It’s worth easily RM 26M (Valued at RM60 per sf). Yes RM 26M for the period of 70 years. Too bad there is no such opportunity now.

Looking into the future of Likas, I saw tremendous growth opportunity. I think this will be the last chances for us to own any pieces of the property at Likas.

Land of Opportunity

I strongly believe this area will continue to enjoy steady rental income and capital appreciation. As I always say, principles in life will be…“Buy & Wait”. Remember waiting is a COST to you!!

Happy Investing…

You cannot Grow Land..CK Wong & MY DAD

Related posts:

1. Likas Continue To Shine
2. Likas Indah – New Landmark for KK
3. Residential Vs Commercial

Tagged as: 1 Borneo, capital appreciation, Condominium, High rise, Likas, MUST OWNED, School, Steady rental