NEW STRAITS TIMES. 15TH SEPTEMBER: Property developers in Sabah must set up a joint working committee to address the delay of projects.
The committee members should comprise representatives from the government, the private sector, professional bodies and banks, said Sabah Local Government and Housing Minister Datuk Seri Masidi Manjun.
“The members should meet every quarter to solve any problem that arises,” said Masidi at the launch of the four-day Sabah Housing and Real Estate Developers Association (Shareda) Property Exhibition (PropEX) 2022 themed, “Now is the Time” at the Sabah International Convention Centre here.
“The purpose for the committee is to provide coordination between the government and the private sector as we must work as a team to move forward,” said Masidi.
He said the idea to set up the committee came after many complaints from property buyers who suffered from delayed or abandoned projects.
He also suggested the setting up of a sub-committee comprising the Local Government and Housing Ministry and Shareda to deal with the issue of bureaucracy.
He said the delay in giving approvals to housing projects had also contributed to the high housing cost in Sabah.
On another note, Masidi said he was encouraged by the announcement allowing 100 per cent stamp duty exemption for first-time home buyers of properties priced RM500,000 and below through the Keluarga Malaysia Home Ownership Initiative (i-MILIKI).
He said the government was committed to supporting developers and ensuring that the housing sector remained healthy and accessible.
He also expressed the hope that more cultural elements would be incorporated into the state’s architectural identity.
“This will not only promote our abundant culture but will also improve the state economy through promoting our tourism industry indirectly.”
He also agreed with Shareda president Datuk Chua Soon Ping that Sabah must be ready as Indonesia was planning to inject US$32.7 billion into the massive relocation of its capital to East Kalimantan.
Opportunities would arise in various fields, not only in construction but also in human resources and talent management, design, architecture, energy resources, material supply and more, he said.
There are 7,742 property units from Sabah, Peninsular Malaysia and overseas valued at RM11.5 billion being exhibited at PropEX 2022.