The Sabah Housing and Real Estate Developers Association (SHAREDA) recently concluded its 31st Annual General Meeting (AGM) with a resounding commitment to its members and the community at large. Led by its President, Datuk Chua Soon Ping, the AGM unveiled pivotal plans aimed at fostering sustainable development and enriching Sabah’s real estate landscape. Here’s a comprehensive overview of the key highlights from the press conference following the AGM:

New Institute Objective: Affordable Housing Takes Center Stage

One of the most significant announcements made during the AGM was the introduction of SHAREDA's 4th main objective. In addition to its existing pillars of research, training, events, and education, SHAREDA will now actively champion affordable housing initiatives. This strategic move aims to align with governmental efforts to address the pressing need for accessible housing for all income brackets.

Affordable Housing Initiatives: Bridging Gaps for the B40 and M40

SHAREDA’s commitment to affordable housing was underscored by recent engagements with key stakeholders, including a courtesy call with the Honorable Mayor of DBKK, Dato Seri Dr. Haji Sabin Samitah. Discussions during this meeting centered on the allocation of land for affordable housing targeted at the B40 and M40 segments of society.

The association revealed plans to construct 4,000 affordable homes in Sabah, specifically catering to the B40 category. This initiative, once endorsed by both Federal and State governments, will serve as a cornerstone of SHAREDA’s Corporate Social Responsibility (CSR) efforts. President Datuk Chua Soon Ping emphasized the association's aim to propose the development of People's Housing Project (PPR) units, leveraging a 60-acre allocation provided by the State Government. The ultimate goal is to ensure homeownership for every Sabahan, irrespective of their income bracket.

PropEX and Sabah-MM2H: Catalysts for Economic Growth

PropEX, SHAREDA's flagship property exhibition, is poised to make a significant impact on Sabah's real estate market. Scheduled for June 14-17 at the Sabah International Convention Centre, PropEX 2024 promises to showcase premium property collections and attract both local and foreign investors. Notably, the impending launch of the Sabah Malaysia My Second Home (Sabah-MM2H) program is expected to coincide with PropEX, opening doors for foreign investment opportunities.

With eight booths reserved for governmental and institutional bodies, including the Ministry of Tourism and medical organizations, PropEX aims to foster collaborations and stimulate economic growth. Foreign investor tours and enticing incentives, such as the giveaway of a BYD car worth RM100,000, further underscore the event's allure.

SHAREDA Night: A Fusion of Entertainment and Networking

Looking ahead, SHAREDA is gearing up for SHAREDA Night, scheduled for September 28. This highly anticipated event promises a delightful fusion of entertainment and networking opportunities. From musical performances featuring national and international artists to stand-up comedy and celebrity emcees, SHAREDA Night aims to captivate attendees and foster a sense of camaraderie within the industry.

With the Chief Minister slated to grace the occasion as the guest of honor, SHAREDA Night is poised to be an unforgettable affair, transcending the realms of business to celebrate the vibrant culture and spirit of Sabah.

In conclusion, SHAREDA's 31st AGM sets the stage for a dynamic era of growth and innovation in Sabah's real estate sector. With a steadfast commitment to affordable housing, a visionary approach to property exhibitions, and an exciting lineup of events, SHAREDA remains at the forefront of driving sustainable development and prosperity in the region.