The year 2010 as usual start of with high expectations but as months went by it became evident that the gloom that gripped the local economy the preceding year had not loosened.
Retail business was said to have plunged by between 30 and 40 per cent, and the island's duty-free status seemed to be losing its lustre.
Though more residential houses became available for rent at cheaper rates, it was not the case for commercial properties.
Shophouses continued to command a price tag of more than RM1 million each. Shop rentals shot up due to limited shops available for business, adding to the inflation on the island.
The much talked-about proposed Labuan-Menumbok bridge, which was first mentioned in the Labuan Development Plan (1997-2015) and in 2006 a visiting Yang diPertuan Agong gave royal endorsement for efforts to be pursued with the Federal Government, looked like moving towards reality. Especially with the allocation of RM5 million for Universiti Malaysia Sabah (UMS) to do a hydrographic study for the project. The survey reported that it was essential due to the limited air and sea links of Labuan and that the bridge if built now would cost RM3 billion but doubled if built later.