Taiwanese collaboration to enhance real estate
Published on: Tuesday, January 16, 2024
By: Jonathan Nicholas
From left: Aton Group Executive Director Jin Tang, CSX Holdings Chairman Charles Tsao, Calvern, Anson and Charis after the letter of commitment signing.
Kota Kinabalu: Local real estate developer Aton Group and Taiwan-based CSX Holdings have announced their collaboration to enhance Sabah’s real estate industry.
The two companies are poised to make a substantial impact on the State’s economy with a ripple effect on more than 120 industries, underscoring strong foreign interest from Taiwan, thus further solidifying Sabah’s appeal for international investments.
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Both parties believe they can significantly contribute to Sabah’s real estate sector growth by maximising each other’s resources.
CSX, founded by industry veterans Charles Tsao, Anson Ng, Calvern Ng and Charis Lee, acknowledges the immense potential in Sabah.
Founded in 2007, CSX manages a diverse portfolio with a primary focus on real estate investment and management.
Anson said CSX, with logistics roots in the peninsula, calls Sabah “the gem of Malaysia” for its natural splendour and multiculturalism.
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“It’s hard to compare other Malaysian states to Sabah or any other location in Southeast Asia for that matter because it has everything we can imagine. The population is not huge but just nice.
“We believe that in another five to 10 years, Sabah can be an icon in Southeast Asia in terms of economics and tourism industries as the Government is also pushing the manufacturing sector,” he said.
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The Banyan Valley project development.
Anson disclosed that it was not until the pandemic in 2020 that CSX diversified into property investment.
“With a lot of risk management and advice, CSX determined that property was the lowest risk investment to enter at the time.
“We started small…after much discussion among partners, we made it our direction in 2021,” he said.
Anson added that they are also expanding in the food and beverage sector, and Sabahans can expect franchises from Kuala Lumpur by the middle of this year.
“Our team is always on the lookout for companies with a strong performance. We choose to work with Aton Group because we believe in their abilities to deliver the expected results and ideal return for our investors.
“We hope that through our investment, coupled with the shared vision with Aton Group, we can bring positive contribution to the economic growth to the real estate industry in Sabah.
“We aim to build a future where every resident benefits from thoughtful and inclusive property development,” he added.
CSX’s mission is to provide investors with sustainable profit distribution and total return growth through active asset management, revenue-enhancing acquisitions and rental activities.
The investment group actively seeks quality developments, particularly in Kota Kinabalu.
Their decision to collaborate with Aton Group is largely due to the latter’s goodwill and strong proven track record in the industry.
Aton Group’s impressive portfolio, including Aru Suites, Vetro 11, Banyan Valley and more, underscores its reputation for innovation and consistently surpassing industry standards.
Despite the challenges faced during the pandemic, Aton Group has consistently demonstrated its strength and resilience by achieving sold-out results for all of its projects.
The crown jewel of its portfolio is Banyan Valley, a 22.17- acre mixed development situated along Jalan Nouton, Kolombong.
Banyan Valley, with an estimated gross development value of more than RM500 million, boasts good feng-shui, modern design and practicality.
Associate Director of Aton Group, Valerie Lo meanwhile said Banyan Valley is divided into few phases with 84 superlink terrace units in phase one sold out.
“Phase 2 is going to launch soon” she said.
It is learnt that the mixed development will house 360 residential units in a 35 story building on 5 acres land.
“We are lucky to have CSX on board for current and future projects. Other big projects are slated on this same land which we are unable to reveal now.
“Construction has gone smoothly with no water or electricity issues. Our mission is to maintain a happy community by working closely with local government for sustainability,” she said.
Aton Group Director Charlie Tang expressed optimism about the collaboration, stating confidence in potential future collaborations that will contribute to mutual growth.
“This agreement with CSX Holdings reflects our unwavering commitment and confidence not only in Sabah as a State but also in the capabilities and vision of Aton Group,” he said.
Co-founder of CSX, Charles Tsao, expressed excitement in embarking on the journey.
“With a strategic location in the Southeast Asian region blessed with an abundance of resources, we are confident in the future of Sabah.
“Over the last decade, Sabah has experienced accelerated growth with its strong connectivity to the rest of the region.
“We believe this growth will continue, and that is the reason why we decided to establish our presence here,” he said.
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