clock 21-09-2023
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SHAREDA PropEX 2023 Triumphs: Unveiling Sabah's Real Estate Trends With President Datuk Chua Soon Ping

In the wake of the resounding success of SHAREDA PropEX 2023, themed "Arte of Development – Craft Your Comfort," SHAREDA President Datuk Chua Soon Ping has shared exciting news regarding the event's achievements and provided valuable insights into the current state of Sabah's real estate landscape.

From 31st August to 2nd September 2023, SHAREDA PropEX 2023 brought together real estate enthusiasts and industry professionals for a 4-day extravaganza. During this period, the expo witnessed the sale and booking of a remarkable 89 units, translating to an impressive RM73 million in total value. These numbers underscore the robust demand for property in Sabah and the enduring appeal of real estate investments in the region.

One key revelation made by Datuk Chua is the sustained demand for landed properties. Recognizing the preference of buyers for such properties, he encouraged developers to consider constructing more landed units. However, he also acknowledged the challenges posed by the high costs of land and raw materials in Sabah, emphasizing the need for sustainable solutions to maintain affordability.

In a nod to the booming tourism sector in Sabah, Datuk Chua highlighted the growing interest among developers in constructing commercial buildings tailored for Airbnb accommodations. Sabah's tourism industry continues to flourish, resulting in a high demand for alternative lodging options.

The hotel industry in Sabah is experiencing a unique dynamic, with demand outstripping supply. Developers are keenly observing this trend and considering opportunities to bridge the gap by investing in new hotel projects, thus capitalizing on the tourism boom in the region.

Moreover, the demand for shophouses remains strong, reflecting the desire to create market-driven opportunities. Datuk Chua cited the example of the Hilltop area, where a surge in tourists has created a demand for businesses such as fish noodles, demonstrating the potential for innovative ventures in response to changing market dynamics.

SHAREDA PropEX 2023 stands as a testament to the resilience and dynamism of Sabah's real estate market. The insights shared by Datuk Chua Soon Ping highlight the industry's commitment to meeting the evolving needs and aspirations of the people of Sabah.

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