U Properties Development (UPD) Sdn Bhd has launched “Taman Kinarut Ceria 2”, a new affordable housing scheme at Kg Mook-Kinarut located midway between Kota Kinabalu (KK) and Papar, besides being conveniently connected to the Pan-Borneo Highway.
Its strategic position enables connectivity to Kinarut Town, KK International Airport and KK City Center by a 5-minute, 15-minute and 25-minute drive, respectively.
Its Executive Director Chong Chen Shung said the project is in response to the Government’s “My First Home Scheme” campaign, which is an initiative designed to support first time house buyers.
The scheme assists buyers in securing appropriate financing and is targeted at young working adults who desire to buy their first home or young families who wish to upgrade to a larger home costing below RM500,000.
“Under this scheme, eligible applicants are allowed to access mortgage loan financing up to 100 per cent the price of a property through participating banks.
“Further, the company also offers exclusive early-bird packages that absorb all stamp duties, disbursements and legal fees,” he said, adding that it basically exempts the need for a substantial down payment.
Chong noted that most of the new properties located in town are generally high-rise projects such as condominiums or serviced apartments with prices ranging above RM500,000 or over RM 1 million.
On the contrary, “Taman Kinarut Ceria 2” is comprise double story terrace houses offered at a more affordable price.
Chong said he was informed that a world-class island resort will be constructed within the vicinity of Kinarut town.
“Together with the implementation of the State Government’s five-year Blueprint (2019-2024), it can be foreseen that Kinarut town will be boosted to become another Satellite Town of KK,” he said.
Previously, UPD had fully sold out 200 units of similar properties in Kinarut, which was the project’s first phase named “Taman Kinarut Ceria 1”.
UPD is a related company of Central Million Properties Sdn Bhd that has been actively involved in the construction industry in Penampang and Kinarut over the past 50 years.