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Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
No failed housing projects Print E-mail
Sunday, 24 May 2009 09:38


Kota Kinabalu: Key players in the State's housing industry have been reminded to be mindful of their responsibilities in providing adequate, affordable and quality houses and buildings without compromising on the environment.

Chief Minister Datuk Seri Musa Aman said the Government strongly supports the property sector to stimulate growth in the country.

Speaking at the Sabah Housing and Real Estate Association (Shareda) installation night in Le Meredien here, Saturday, he said he was pleased to note that developers in Sabah had proven to be true professionals.

"Despite numerous issues affecting the property sector such as unpredictable supply and rising cost of building materials, I am glad to know that for almost 20 years, there have been no abandoned housing projects in Sabah," he said.

Musa, who is also State Finance Minister, added this was due to good governance by the Local Government and Housing Ministry as well as the integrity of Shareda members.

"I commend Shareda for its constructive participation in ensuring that we continue to be your partner in progressing the State's economy. It is my hope that Shareda will continue with programmes that will benefit its members and contribute to the growth of property development in Sabah," he said.

Nonetheless, Musa urged Shareda members to come up with innovative architectural designs that would keep homes comfortable in the country's hot weather, making use of energy efficient appliances and to always make sure the carbon footprint is kept low.

Climate change is a global issue and it is necessary for developers to do their bit to mitigate the negative impacts of a quickly changing environment, he said.

"Shareda members must also factor in better landscaping aside from quality furnishing," he said.

The Chief Minister said he had also taken note some of the requests made by Shareda, including maintaining the original lease term of 999 years for land titles after subdivision and change of land use.

The other proposal was to re-brand the Shareda Property Exhibtion or Propex as a major international property exhibition in partnership with the State Government to attract foreign investors for long periods, or to participate in the Malaysia My Second Home (MM2H) programme.

He said the Government acknowledged the role of Shareda, in collaboration with the State Tourism Board and other agencies in promoting Sabah as a destination for foreign investors or expatriates wishing to set up retirement homes under the MM2H programme.

"In order to meet the aspirations of the people, I will deliberate on the proposals thoroughly with my colleagues in the Cabinet," he said.

Musa also congratulated Datuk Susan Wong who would lead Shareda for the next two years.

"Having served for 16 years as Secretary-General and committee member, I am confident she will excel in her new role and with her new team will steer the property development sector to achieve more milestones," he said.

"It is my hope that Shareda will continue to contribute and assist members in their respective undertakings and the Government in achieving our aspirations as outlined in the Sabah Development Corridor and halatuju as our State progresses towards the realisation of 1Malaysia," he said.

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