GSH makes property forays into Sabah

IT appears that GSH Corp's next chapter as a property developer will be written closer to home, with its initial forays into China having fallen through.

The company expects to launch its first residential project in Kota Kinabalu, Sabah, in the first half of this year.

GSH chief executive Gilbert Ee announced on Wednesday that the company has made a 510 million ringgit (S$196.6 million) cash investment in the Sutera Harbour Resorts project and put an undisclosed sum into two neighbouring land parcels.

Plans have been drawn up to build more than 400 units of luxury residences in the first land bank, a 4.9 ha (12.1-acre) waterfront site, Mr Ee said.

The company also hopes to launch a residential proje…