clock 12-06-2024
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Reviving Sabah's Skyline: SATTA Chairman Calls for Urgent Action on Abandoned Projects

Datuk Seri Winston Liaw, Chairman of the Sabah Association of Tour and Travel Agents (SATTA), expressed deep concern over the ongoing issues surrounding the PacifiCity project and other related developments. Representing the buyers, Liaw urged authorities to take immediate and decisive action to prevent further deterioration of these properties and to restore investor confidence in Sabah.


Immediate Action to Secure the Development



Liaw emphasized the urgent need for authorities to secure the PacifiCity development from vandalizers, highlighting the potential for further damage to the structure if left unchecked. "We are calling on the relevant authorities to take immediate action to seal up the area and prevent further vandalizations," he stated. The safety and integrity of the buildings are paramount to ensure that the projects can be revived without incurring additional repair costs.





Sabah Association of Tour and Travel Agents (SATTA) Chairman, Datuk Seri Winston Liaw




 



Involving Higher Authorities and Stakeholders



One of the potential solutions on the horizon is the involvement of a "white knight" investor who aims to escalate the issue to a higher level. "The potential white knight hopes this issue to be taken into serious consideration, hence raising it to the Federal Government, Bank Negara, high-ranking officers, and also Putrajaya. Not to forget the Malaysian Buyers Association, who should come in and set up a quorum together with the Sabah Ministry of Local Government and Housing," Liaw explained. This coordinated effort aims to bring significant attention and resources to address the problems faced by the projects.



Reviving Key Projects



The projects in question include PacifiCity, The Crown, and Triconic. Liaw noted that the potential white knight might have the capability to revive these developments, depending on the strategies they employ. "We must not let Kota Kinabalu turn into an abandoned projects paradise. The authorities need to act now to prevent future cases like these," he urged.



Enhancing Sabah's Investment Image



Liaw stressed the importance of preserving and enhancing the image of Sabah as an investment haven. "We want Sabah to be seen as a safe and attractive place for investors. The federal housing minister's initiative to amend the rules in the development market is a step in the right direction. These amendments will protect buyers and ensure that developers do not exploit them, thus fostering a healthy growth of the market."



Supporting Autonomy for SM2H



Addressing the recent issues with the Malaysia My Second Home (MM2H) program, Liaw expressed support for the Sabah My Second Home (SM2H) initiative. "We should have autonomy in this matter. If Sarawak can have their own program, why not Sabah? Perhaps Sabah can offer more attractive terms to entice foreign investors."



Potential Investors



Liaw revealed that there are two potential white knights interested in these projects, one local and one international. "These investors could be the key to reviving the stalled developments and restoring confidence in the market," he said.



Official Declaration of Abandonment



Finally, Liaw called on the Sabah Ministry of Local Government and Housing to make an official announcement declaring Pacificity abandoned. "This formal declaration is necessary to pave the way for new investors to step in and for the authorities to take appropriate measures to protect and rehabilitate the properties."



In conclusion, Datuk Seri Winston Liaw's call to action underscores the urgency and importance of addressing the issues facing PacifiCity and related projects. By securing the developments, involving higher authorities, and supporting regulatory amendments, there is hope that these projects can be revived, safeguarding the interests of buyers and bolstering Sabah's reputation as a prime investment destination.



 






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