KTI Landmark explores student co-living at Kayana Heights with TAR UMT
KTI Landmark Bhd has signed a three-year MOU with Tunku Abdul Rahman University of Management and Technology to explore student accommodation at its Kayana Heights development in Kota Kinabalu. The collaboration would see residential units configured for co-living, operated by Belive Ventures.
PETALING JAYA (Oct 26): KTI Landmark Bhd is exploring student accommodation at its Kayana Heights development in Kota Kinabalu, Sabah, through a collaboration with Tunku Abdul Rahman University of Management and Technology (TAR UMT).
In a Bursa Malaysia filing on Friday (Oct 23), the property developer said its wholly-owned subsidiary K.T.I Development Sdn Bhd had entered into a three-year memorandum of understanding (MOU) with the university that day. The MOU sets out a framework to facilitate accommodation options for TAR UMT students.
Residential units at Kayana Heights may be made available or configured for student housing, to be operated and managed by Belive Ventures Sdn Bhd under its “Belive Co-Living” concept. KTI said the project in Alamesra, off the Sulaman Coastal Highway, is approximately 500 metres from TAR UMT’s Sabah branch. Its board expects the collaboration to support take-up and occupancy of units under the co-living programme.
The MOU is largely non-binding, except for specified provisions on promotional activities, confidentiality and indemnity, to the extent expressly provided. It creates no binding financial obligations unless mutually agreed in writing.
It outlines responsibilities for K.T.I Development to facilitate suitable accommodation through its authorised operator and coordinate the programme’s setup, management and operation. These include maintaining reasonable safety and habitability standards, complying with applicable laws and providing the university with information on accommodation features, facilities and rental arrangements.
TAR UMT’s proposed role includes promoting the accommodation options through its official channels and raising student awareness of the programme. Accommodation would be subject to availability, operational arrangements and terms determined by K.T.I Development and/or the authorised operator. Students’ tenancy and accommodation arrangements would be governed by separate agreements.
