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The property market is expecting increased sales this year, as a combination of rising private investment and the growing palm oil industry aid expansion in Sabah’s real estate sector. However, industry players say bank regulations introduced in 2011 are slowing some buying activities.
Negotiations to buy a large share of a regional airline with Sarawak could boost Sabah’s domestic tourism sector by bringing in increasing numbers of tourists.
The construction of a geothermal power plant in Sabah has massive potential to boost the Malaysian state’s economy, while paving the way for other major developments in renewable energy.
Sabah’s economy is off to a strong start this year, owing to investments worth several billion ringgit secured in the first quarter of 2012, as well as an economic plan focused on creating wealth and empowering the business community.
Recently launched government-backed ventures in aquaculture, including one to develop seaweed into a major economic product, look set to transform Sabah’s agriculture sector.
The launch of an RM3bn ($984.15m) mixed-use development in Kota Kinabalu, the capital of Sabah, earlier this year is expected to provide a boost to the Malaysian state’s dynamic construction sector.

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