Susan
KOTA KINABALU: Sabah’s property market is poised for another strong performance in the Year of the Dragon 2012 with the Malaysian economic sector performing solidly well over the last twelve months.
In her message in this year’s Chinese New Year celebration, Sabah Housing and Real Estate Developers Association (SHAREDA) president, Datuk Susan Wong Siew Guan, also expressed her confidence that the local property development will continue to thrive despite the economic slowdown that has currently impacted the European countries.
“The property market is expected to remain vibrant and resilient in 2012 due to the strong local demand and the stable political climate.
“The market is also expected to be buoyant with the consistent growth in the palm oil industry and oil and gas sector,” Susan added.
Susan noted that the Government Economic Transformation Programmes together with the Public Private Partnership (PPP) Fund have accelerated the growth in the economy by injecting funds to the private sector for new development projects.
“Our property market is driven primarily by local demand and with the price of palm oil remaining consistently, the confidence of the people in the property investment is definitely going to increase.
“The current attractive price of palm oil has made the oil palm planters enjoying high profit and they are cash rich with strong buying power which in turn boosts up the property industry and the state economy as a whole,” she stressed.
Susan also paid tribute to the State Government especially the Ministry of Local Government and Housing for always giving support and cooperation to Shareda.
She praised the State Government for always taking care of the people by building low-cost homes for the lower income earners.
According to her, 2012 is the year when the water dragon meets the phoenix and there will be growth potential. However, business is competitive and also demanding.
Susan pointed that the booming tourism industry in Sabah due to our beautiful scenery and strategic location with direct flights is another factor, which has made the tourists coming here and this has also encouraged foreign investments in Sabah properties under the Malaysia My Second Home (MM2H) programme.
“Our banking sector is resilient and continues to give high margin loan for end-financing which has contributed significantly to the property industry’s continuous growth,” she added.
On another development, Susan lamented that the property industry also faced many challenges as well like the hiccups in the approval of development plans process and the recent sand monopoly exercise given to Sabah Economic Development Corporation (SEDCO).
She expressed the hope that this monopoly exercise will not increase the sand price as well as no shortage of sand supply.
“Also, we hope that the rakyat’s request to the State Government on getting back the 999 years land lease term could be made possible in this year of the dragon.”
Meanwhile, Susan, who is also the president of The United Sabah Sze Yip Association, said the Lahad Datu Sze Yip Association will be organising the Chinese New Year gathering on Feb 4, in Lahad Datu. She will be present at the function.
She said more than 1,500 youths from all over the world will attend the 3rd World Jiangmen Youth Congress which will be hosted by The United Sabah Tze Yip Association here from June 1-3 this year
Susan, who is the congress organising chairperson, hopes that everyone of her clansmen will attend this special world event.