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Saturday, April 11, 2020

Many Sabah developers don’t meet criteria to continue work under MCO

Property prices in Sabah, especially in Kota Kinabalu, are among the most expensive in Malaysia, making it unaffordable for many Sabahans.
KOTA KINABALU: Many Sabah developers do not meet the requirements set for construction and construction-related services now to operate under the third phase of the movement control order (MCO).
Sabah Housing and Real Estate Developers Association (Shareda) president Chew Shang Hai said the requirements set by Putrajaya were much too low and thus they still cannot operate.
For instance, he said many Sabah developers had multi-million-ringgit projects, which are too high from the RM500,000 and 90% completion caps set by Putrajaya.
“Many of our members’ projects are less than 90% completed,” Chew told FMT.
Furthermore, he said Shareda was aware that the government would only open the sector which utilised low labour but Sabah lacks the use of such industrialised building systems (IBS).
IBS is a construction technique that allows for prefabrication of construction components and promotes productivity, with reduced labour.
Chew said costs could bump up by 10% due to the increasing fixed costs and financial costs if they were not able to carry out work for too long.
The gross development value held by Shareda stood now at over RM2 billion, with more than 100 industries involved in the supply chain.

Property prices in Sabah, especially in Kota Kinabalu, are one of the most expensive in Malaysia, making many Sabahans unable to afford these properties. - FMT

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