Govt committed to support developers
Published on: Sunday, September 18, 2022
By: Wu Vui Tek
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Masidi (right) receiving a souvenir from Chua as Shareda exco members and organising committee members look on.
In turn, Local Government and Housing Minister Datuk Seri Masidi Manjun said he hope the developers can continue to innovate and bring up the property industry in Sabah with new technologies and concepts.
“That said, we must not forget we have a responsibility to all Sabahans from all walks of life and affordability is a key part in this regard,” said Masidi during the launch of the Sabah Housing and Real Estate Developers Association (Shareda) Property Exhibition (PropEX) 2022 at Sabah International Convention Centre (SICC) here.
The four-day event themed “Now is the Time” feature 7,742 units of properties from Sabah, Peninsular Malaysia and international has a combined sales value at RM11.5 billion.
Masidi who is also Finance Minister II said he was encouraged by the announcement from Prime Minister, Datuk Seri Ismail Sabri Yaakob last month, allowing 100 per cent stamp duty exemption for first-time home buyers.
It is applicable for properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (I-MILIKI).
The campaign run from June 2022 to December 2023, is similar to the Home Ownership Campaign that started in 2019 until December 31, 2025, he said.
On another note, he said the government had allocated RM149.52 million to repair infrastructure and help the people affected by disasters through the First Supplementary Supply Bill 2022 passed by the Sabah Legislative Assembly.
“RM65.28 million was allocated for the State’s water supply needs, and RM58.92 million for the administration, management, and maintenance of government buildings,” said Masidi.
He also hoped that the developers will include more cultural elements in their structural design as part of their architectural identity.
“This will not only promote our abundant culture but will also improve the state’s economy by promoting our tourism industry indirectly,” said Masidi.
He also assured the developers that the local authorities will give them the necessary cooperation at all times to make sure development and businesses can run smoothly.
He also concurred with SHAREDA President Datuk Chua Soon Ping who pointed out the massive relocation of the new Indonesian’s capital Nusantara in East Kalimantan where USD32.7 billion will be injected for its developments.
“I agree with Datuk Chua that we must make the first steps to be ready. Nusantara will need to build up its infrastructure, everything from utilities to networks to manufacturing to ports and airports.
“Opportunities will arise for an array of fields, not only in construction, but also in human resources and talent management, design, architecture, energy resources, material supply and more,” said Masidi.
There will be massive investments coming into Borneo and this is an opportunity for Sabah to grow in tandem with Nusantara’s development, he said.
