KUCHING: The State government will review the existing property buying policy to meet the requirements of property buyers.
Chief Minister Datuk Patinggi (Dr) Abang Johari Tun Openg said that with the increasing demand of property in the State, the supply must meet the demand, otherwise there would be an overhang which would not be good for the economy.
“The State government, ministers and also Sarawak Planning Authority (SPA) are looking at the ultimate policy on the need of the people to buy their property (for RM300,000 and below), in order to provide the best policy that will cater to certain category of buyers,” he said during the launching ceremony of SHEDA Property Expo 2018 held at Borneo Convention Centre Kuching (BCCK) here yesterday.
Abang Johari also noted that there was an overhang of properties in the State, particularly in Sibu, Miri and Bintulu.
On the Light Rail Transit (LRT) project throughout the city, he said that it will also be reviewed and would likely be developed in areas with bad traffic condition.
“We may do it according to the needs of certain areas and it will be a guide for us to obtain the response from the general public.
“If the public responds positively, we will start building them,” said Abang Johari.
Meanwhile, he pointed out that the State has to strengthen its economy through diversification.
“This is because Sarawak is shifting towards a modern economy based on digital economy.
“This will attract higher level of performance and productivity, and it will also provide a higher level of salary.
“With that higher level of salary, higher affordability will arise and if the salary is low, then we have a problem,” said Abang Johari.
Meanwhile, the President of SHEDA, Dr Christopher Ngui Siew Ling said that SHEDA welcomed the announcement by the Ministry of Housing on working with Bank Negara Malaysia (BNM) to ease housing loan requirements for B40 and M40 income groups.
He added that according to the ministry, the full plan is expected to be finalised by August.
“SHEDA welcomed this move by the Federal government as we believe that this will reduce the number of property overhang in Malaysia and at the same time increase home ownership and spur the property market in the months to come,” he said.
He also noted that SHEDA had urged the State government to look at the housing industry in a holistic approach in order to address issues which have sowed down the market in the past years.
“Among them are the stringent home financing requirement imposed by BNM which led to the high rejection rate of home financing application,” he said.
He also pointed out that SHEDA would like to collaborate with the State government in creating developments that integrates
with the Light Rail Transit (LRT) lines.
“Property developers can also be encouraged to participate in building high density affordable housing near the LRT lines so that residents can easily commute using LRT.
“The integration of housing developments with other mix developments such as offices, retail and amenities with the public transport system would therefore further contribute to greater ridership for the LRT network and reduce traffic congestion on the road,” he said.
The SHEDA Property Expo 2018 is open to the public for three days from 6 to 8 July, 2018, starting at 10am to 9pm at BCCK. A total of 86 booths and 61 exhibitors will be showcasing their products to the public during the three-day expo.
The activities include talks by international speakers, Zumba fitness, Pro-Robotic goal keeper simulator for football fans to win a Christiano Ronaldo signed jersey of Portugal football team.
Visitors can also get free bottle at the property expo which is limited to 1,000 visitors each day by registering at the expo as well as stand a chance to win the Daily Lucky Draw Prizes and one year free e-paper from either See Hua, Borneo Post or Utusan Borneo.
In line with SHEDA’s Corporate Social Responsibility (CSR), there will be a blood donation drive organised by Kuching Life Care Society.
