KOTA KINABALU: Chief Minister Datuk Seri Musa Aman has called on industry movers and shakers to keep the prices of properties in the state from continuing to skyrocket, especially housing units, to ensure people from all levels of income could afford to own a home.
“In spite of the challenges facing the property market, I urge developers to ensure property prices do not escalate beyond the reach of the people. In your endeavour, I hope you will make room for more affordable housing within the property market,” he said.
He said this in his speech during a dinner for Malaysia’s top property developers hosted in conjunction with The Edge Malaysia Property Excellence Awards 2014 Networking Retreat here on Friday.
“The property sector is a vital part of growth for Sabah, having been recognized as one of the key drivers of the state’s economy for many years,” said Musa.
The property development sector, he added, is central to the financial health of some 140 related industries, but ultimately the people as the end buyers are the most important component of the whole chain.
“We are all end users, whether as owners or tenants of homes and business dwellings, or as investors for business purposes. For this reason, we expect the best from our industry players in terms of materials supplied and used, professionals who design and supervise the development, and financiers for providing the best financial packages,” he said.
Musa expressed hope that the coming converging of top developers from Peninsular Malaysia with their counterparts in Sabah at the event would lead to mutual cooperation that would benefit not just the industry, but also the buyers.
“As Sabah expects to continue attracting foreign and domestic tourists, there is a need to develop more hotels and resorts as well as residential properties,” he said.
This, he said, would give property developers from across the nation a chance to expand their products to Sabah, to complement the efforts of local companies in meeting this ever increasing demand.
The state government, in cooperation with the federal authorities will also continue to improve the infrastructures needed to support further growth in various sectors, including the property development segment.
Meanwhile, Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan in his welcoming remark, said emphasis would continue to be given to providing quality, adequate and affordable homes for the low and middle income groups.
To encourage active participation from among industry players towards achieving this goal, said efforts are being taken to have recognition and awards be given to companies which build the best affordable homes.
He also noted that the government last year allocated RM1.9 billion for the construction of 123,000 units of affordable housing.