A 4000-Unit affordable housing project in Kota Kinabalu was officially launched today by Datuk Seri Panglima Shafie bin Apdal at the Sabah International Convention Center (SICC).
The Ministry of Local Government and Housing has made it their mission to see more affordable housing closer to the city of Kota Kinabalu to meet the demand of the growing population who are in need of housing, such as the M40 group. In light of this, Minister YB Dato Dr. Hj. Jaujan Hj. Sambakong has proposed the My First Dream Home program to aid more Sabahans in owning property.
Local Developer, Wecojaya Sdn Bhd is now developing City Residences in the proposed location of Alam Mesra, near University Malaysia Sabah, Tun Mustapha Tower and One Borneo Hypermall. Especially now, along with the My First Dream Home program, City Residences will offer the chance to Sabahans to own their first home at a low-entry level.
“This group of the population [M40 group], cannot afford to buy high-cost housing units within the proximity of the prime area like Alam Mesra. They have to find housing that is more affordable in the outskirts of KK City or even further to the neighbouring districts such as Tuaran, Kota Belud and Papar.
So considering that, with the advice of YB Dato Dr. Hj. Jaujan Hj. Sambakong, we have decided to propose 4000 units of affordable housing at City Residence.”
Photo source: City Residence
City Residence will stand tall on approximately 21 acres of land in Alam Mesra. The affordable units will have a build-up of approximately 850 square feet and offer 3 bedrooms and 2 bathrooms.
It will also boast ample facilities for the residents including a multi-purpose hall, surau, sport court, children’s playground and gym. Furthermore, 40 units of commercial shop lots within the project will address the needs of the community as well.
The development is divided into 3 phrases and the groundbreaking ceremony for the first phase is expected to occur in the first quarter of 2021. Wecojaya Sdn Bhd expects to complete the entire development within the next 5 years. For not more than RM300,000, Sabahans can own a home at City Residences.
“The best part is some units come with a sea view or view of Mount Kinabalu. With this affordable price at such a prime location, we are confident that our project will be highly sought after and beneficial to many people. City Residences will open up the opportunity to M40 group population to own their first dream home.”
Wecojaya hopes that My First Dream Home program will assist to stimulate the state economy through property development and it’s multiplier effects. The impact on economic growth includes activity such as an increased activity for local suppliers and contractors, government taxation and revenue collection, creating new job opportunity and creating more disposable income in the market. This stimulation will improve the quality of living and spur more social benefits for the people of Sabah.
“It is very important for Sabahans to have access to affordable housing so that many more people can own a home instead of just renting. We have seen in many parts of the country, like Kuala Lumpur in particular, the cost of housing is actually very expensive, and our people have to rent for the rest of their lives. We need to encourage many participations coming from not just the private sectors, but also the government too.” Guest of Honour, Datuk Seri Panglima Shafie bin Apdal said today at the launching of City Residences.
City Residence (Alam Mesra) is now open for registration of interest https://www.facebook.com/cityresidencealamesra