Hap Seng Properties Development Sdn Bhd became the first developer in Sabah to receive a special approval from the federal Housing and Local Government Ministry to offer a RM30,000 subsidy for first-time home buyers.
Deputy Chief Minister cum Local Government and Housing Minister Datuk Jaujan Sambakong said the subsidy is offered under the MyHome 2.0 scheme.
Commending Hap Seng’s achievement in selling the most units of houses in Sabah under the Government’s Home Ownership Campaign (HOC), Jaujan said the developer has shown excellence in terms of quality and standards in its projects.
“I would like to thank Hap Seng for improving the development quality in Sabah and setting a quality benchmark for future development projects,” he said during the launching of Hap Seng’s Kingfisher Inanam (KFI) Sky Recreation, here, Saturday.
“Through this initiative, we would be able to achieve a development quality on par with other modern cities like Kuala Lumpur and Penang.”
His speech was read by the Ministry’s Permanent Secretary, Masnah Matsalleh.
Jaujan said there are many condominium projects in the city and the number is increasing.
“Hap Seng Properties Development Sdn Bhd has shown courage and far-sight in developing specially-designed condominiums to suit modern lifestyle,” he said.
Hap Seng, he said, is a local developer which has more than 40 years of experience in property development and able to complete its projects ahead of schedule.
“This accomplishment should be emulated by all quarters.
“Apart from that, Hap Seng has enhanced local employment opportunities and continued to develop the economy of the people of Sabah.”
Hap Seng Land SB Chief Operating Officer, John Tan, said according to Sabah Housing and Real Estate Developers Association’s (Shareda) records, as of Aug 15, the total number of units sold in Sabah under the HOC was 715 with a value of RM403 million.
“Hap Seng achieved RM129 million which is about a third of the total value recorded by Shareda,” he said.
Under the HOC, stamp duties are waivered, apart from a 10 per cent price reduction.
“Apart from that, Bank Negara has opened a RM1 billion home loan scheme to more buyers.
“From September onwards, the scheme will be opened to buyers with a maximum monthly household income of up to RM4,360...previously it was capped at RM2,300.”
On the two-acre KFI Sky Recreation, Tan said it was designed to accommodate everybody’s needs in this modern and fast-moving society.
“Everybody is rushing from morning to night either to work, going and returning from school, fetching children or rushing back to cook and so on.
“Recreation and exercise for most people may just be a weekend luxury. But at KFI, you can practically do it every day.
“Simply because the two-acre recreation area was designed with facilities for all ages at your doorsteps,” he said.
Among the facilities provided are playgrounds, turfed field, swimming pools and a gymnasium.
“There is a viewing deck on top of the clubhouse overlooking the forest and mountain range as the morning mist gradually fades away.”
Surrounded by forest and hills, KFI is located three kilometres away from Inanam town.
“If you were to put Inanam in Google map, you will find that it is the most diversified town occupied by established and well sought-after schools, shops, supermarkets, eateries and banks, among others.
“That is also a reason why we have advertised KFI as the ‘Address’,” he said.