The issue of strata title will no longer bedevil Sarawak Housing and Real Estate Developers’ Association (Sheda) and house buyers.
The reason being Sarawak will amend the present law once studies by the relevant authorities are done.
“The state government will amend the law to resolve the problem,” Chief Minister Datuk Patinggi Abang Johari Tun Openg assured when officiating at the Sheda Annual Dinner and Excellence Awards 2018 at the Borneo Convention Centre Kuching (BCCK) here last night.
Johari said he had discussed with Local Government and Housing Minister Datuk Dr Sim Hui Kian on how to resolve the strata title problem and now it is being studied before the proposed amendments could be tabled at the State Legislative Assembly.
He said he had also discussed with Dr Sim on ways to assist potential house buyers, adding that the state is going to provide funding through Mutiara Mortgage and Finance to enable potential house buyers under the B40 and M40 groups to buy affordable houses.
He said under this scheme, the state government would build 2,500 affordable homes in the price range of RM190,000 to RM250,000 per unit in Kuching, Sibu, Miri and Bintulu.
The Chief Minister said the state government would inject RM100 million to Mutiara Mortgage and Finance, a company is fully-owned by the state government, for that purpose.
Johari said the state will allocate land for the project, while land premium has been reduced to only RM1,500 as compared to RM5,000 previously for land of 12 points.
“Actually, we only sell the houses as one third of the cost is absorbed by the state,” he added.
At the function, the Sheda Property Man of the Year 2018 was awarded to Raymond Sim Hee Pang of Yoshi Development Sdn Bhd (Nationlink Group of Companies) while Hock Seng Lee Construction Sdn Bhd received the Merit Award for Master Plan-La Promenade, Kuching.
Hock Seng Lee Construction Sdn Bhd also received the Merit Award for Landed Development while Saradise Sdn Bhd received the Merit Award for Shop Offices.
Sendayan Reality Sdn Bhd received the Commended Award for Strata Development.