Photo Credit Property Hunter, by SHAREDA
clock 19-06-2020
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New Deal of Sabah to Further Support Real Estate Economy

The Sabah State Government “New Deal” economic stimulant measures announcement by our Chief Minister Datuk Seri Panglima Mohd Shafie bin Apdal this morning significantly shows that our state government concerns and understands the challenges faced by the business sectors players and also the importance to revive the economy of Sabah swiftly, especially during the global pandemic COVID-19 outbreak.

Amongst the 8 “deals” introduced by the Chief Minister, SHAREDA lauded and welcome the measures benefiting the properties sector.


"The State Government has finally announced the launch of Sabah My Second Home Program (SM2H) under the purview of the Chief Minister Department. After months of consultation and collaboration with the state government on the introduction of SM2H, it finally bears fruit as SHAREDA strongly believes that SM2H would help to improve the marketing efforts and promotional campaigns of Sabah’s properties to the foreigners. Furthermore, it is with great hope that SM2H is able to give Sabah a greater exposure in the neighbouring regions to invest, live, spend and contribute to the economy of Sabah. This would indirectly improve the liquidity of the market in Sabah.

We also believe that as a stakeholder we are able to continue to work closely with the Sabah Government to discuss and contribute our opinions on the implementation details and procedures." said SHAREDA President, Datuk Chew Sang Hai.


"Secondly, I would like to highlight that SHAREDA also welcomes the deferment of 50% of the land conversion premium settlement announced earlier. This measure would definitely help many of our SHAREDA members to ease the cash-flow constraint faced by our members during this period of time.

However, SHAREDA looks forward to receiving further announcements from State Government on plans and measures on infrastructure and housing project which to be implemented through Private Finance Initiative (PFI) or government-funded soon. This implementation would boost the Sabah Economy further and also acts as a catalyst for possible jobs creation." said SHAREDA President, Datuk Chew Sang Hai.


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