Firm vows to maintain prices of Kinarut units
Published on: Monday, November 22, 2021
By: Hayati Dzulkifli
.jpg "Firm vows to maintain prices of Kinarut units")
Susan (centre) posing with recipients representing four associations holding the mock cheque totalling RM14,000 which were donated to them during the soft launch of the project.
Kota Kinabalu: WSG Group which has embarked on a new commercial project in Kinarut – Rose Avenue Plaza – will maintain the prices of its 20 units of shops although the prices of building materials have gone up.Managing Director Datuk Susan Wong Siew Guen said her company will absorb the increased costs of purchasing cement and steel bars, among others.
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Despite a lower profit margin, she was optimistic on the sales of the units, based on an encouraging response on the bookings which have reached more than 60 per cent.
“We did foresee the prices of building materials to go up but didn’t expect it to go up that fast after the Movement Control Order (MCO) has been lifted.
“Furthermore, I have been informed by the material suppliers that the prices would go up further next year such as the price of steel bars,” she said.
Susan was commenting on a statement by Sabah Builders Association (SBA) President Henry Tsen that the latest price hike of cement will likely trigger a floodgate of further price increase for all building materials.
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Cement Industries (Sabah) Sdn Bhd announced on Nov 18 to increase the bulk cement price by RM45 per tonne and bag cement by RM2.25/per bah effective on Nov 19 (Friday).
Henry said such announcement would add further financial burden to the contractors who are already having difficulty to survive.
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Susan, who is also the President of United Sabah Chinese Communities Association of Kota Kinabalu (USCCAKK), said this to reporters after a soft launch of Rose Avenue Plaza at Centre Point Sabah, here.
“Apart from the 20 units of double-storey shops in Rose Avenue Plaza, it also includes 16 intermediate units and four corner units where more than half have been booked including the four corner units.
“The Rose Avenue Plaza is part of a bigger development plan which includes Servay Hypermarket and Rose Avenue Condominium.
“The construction for the commercial centre would commence in January 2022 and the project is expected to be completed in June 2024,” she said, adding her company decided to expedite the development of Rose Avenue Plaza due to popular demand.
Susan said the Rose Avenue Plaza would complement the new single-storey Servay Hypermarket and upcoming Rose Avenue Condominium, which is slated to be launched in November 2022.
Despite its small profit margin from the new project, Susan said the most important is the whole area which includes building the Servay Hypermarket opposite the shop lots and to provide a convenient and good living environment to the people.
“I believe the buyers know that all building material and cement prices had gone up, but we are still selling the units at reasonable prices.”
She said the project site is near Chinese and government schools, shops and Kota Kinabalu International Airport (KKIA), which takes about 20 minutes’ drive as well as the availability of private clinics.
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