SHAREDA Calls Developers to Continue Projects to Avoid Collapse of the Construction Market
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The Sabah Housing and Real Estate Developers Association's (SHAREDA) Deputy President Datuk Chua Soon Ping (Photo) said that the association has a common goal that during the pandemic, it must take care of not only its members but also the entire supply chain, including 140 sub-industries related to real estate and construction.
During an interview, Datuk Chua Soon Ping said that the Sabah Housing and Real Estate Developers Association is like a big fish in the blue ocean, it must take care of the small fish around it. Even during the pandemic, the developers must not call for a halt, otherwise, there will be no economic spin-off in the market. Once the economy collapses, it will cause tens of thousands of people to lose their jobs, therefore developers must continue to develop.
Hence, the general direction of SHAREDA from 2021 to 2023 includes the following 3S:
- Survival (Resource integration + continuous operation)
(a) Government policies must be simplified. For example, when a developer develops a new lot, the land tax must be paid for before the blueprint can even be submitted. SHAREDA recommends that the government loosen this policy and allow the developers to pay for the land tax only after the development blueprint is approved.
(b) In terms of products, the association recommends building more landed properties, because the people in Sabah have a high demand for landed properties.
(c) Bank support. The association calls on banks to provide developers with more financing loans and end financing for buyers. The biggest issue Sabah currently faces is that banks refuse to loan money to the buyers, or only provide 70% loans. Many young people want to buy a house but face this problem where banks refuse to loan money to them.
Sabah real estate developers faced many challenges with the officers in government departments and banks. We hope that the relevant units will assist the developers in working out the solution, not only the government policy but also the implementation unit must be able to support the execution of policy too.
In addition, the association will hold webinars to help developers understand the recent Federal Supreme Court order that the date of housing delivery starts from the date of payment of the deposit, rather than the date of signing the sale and purchase agreement. Therefore, the association recommends members not to collect any deposits.
- Sustainable development
Sustainable development refers to a forward-looking development model that not only satisfies the needs of today's buyers but also protects the environment for future generations.
Building green buildings does not only refer to the building itself but also the topography of the real estate. It should consider the time, location, people, product and price. The developer can’t just develop the lot with a sole commercial perspective, but they also have to consider the nature of the lot itself and the concept of environmental protection at the same time to decide the best direction of development for that particular lot.
Therefore, real estate is called real property estate. If you decide to buy a property, might as well buy the right product.
For example, the land has its energy, and trees have their own energy too. They produce oxygen during the day and release carbon dioxide at night. The sun has its own energy, we can use solar energy to generate electricity, and store rainwater for reuse later. Therefore, developers must activate and release the energy of nature for the betterment of the development.