Sabah Malaysia My Second Home to impact economy
Published on: Monday, February 26, 2024
By: Hayati Dzulkifli
Chua (second right), Phoong (left) and Chan (right) at the rainwater harvesting tanks presentation.
Kota Kinabalu: The much awaited Sabah Malaysia My Second Home (Sabah MM2H) programme expected to be launched next month will likely have a major impact on the State’s economy, especially the State Capital.
Sabah Housing and Real Estate Developers Association (Shareda) President Datuk Sr Chua Soon Ping said seafront properties would fare favourably.
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Among criteria, he said foreign investors may purchase a high-rise residential or commercial suites unit exceeding RM600,000 or landed residential properties above RM1 million (completed or under construction).
“The State is projected to receive RM3 billion in investments, especially Kota Kinabalu as the main pull factor from an assumption of about 2,000 investors a year.
Imagine if one investor spends around RM1.5 million (real estate, education, living expenses, buying car, medical care, general spending, etc).
“In the event of a spin off effect of three times, the economy will look at an additional RM9 billion injection into the market,” he said in his speech at Shareda & Bay Suites Chinese New Year Celebration 2024 officiated by Minister of Industrial Development and Entrepreneur Datuk Phoong Jin Zhe.
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Also present were Federal Deputy Minister of Plantation and Commodities Datuk Chan Foong Hin, State Fire and Rescue Department Deputy Director Farhan Sufyan bin Borhan, Shareda council members and senior officials.
On providing affordable housing for M40 and B40, Chua said Shareda thanked the State government for allocating 70 acres to Shareda Institute and being given the opportunity to participate in building affordable housing for M40 and B40.
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He said it is in the midst of preparing the master plan.
In view of electricity and water shortages, Chua said Shareda requested its members to install solar panels and rainwater harvesting tanks in their projects.
“Flooding impact can be reduced, if kept by household provided it is properly capped to prevent mosquito breeding.
We are working with Fire and Rescue Department to install rainwater harvesting at their respective stations in the State as any extra rainwater collected can be of help to fight fires in areas not accessible or lower pressure.
“My company Remajaya Sdn Bhd donated 10 rainwater harvesting tanks to the Fire Department. Two tanks were given to Sembulan Fire and Rescue station, two tanks to its main station in Kolombong and two tanks to other stations such as in Penampang,” Chua said.
He said giving out rainwater harvesting tanks is Shareda’s first pilot project.
Its members will be urged to donate 10 tanks to the fire and rescue stations in Sandakan followed by another 10 tanks donated by Hap Seng in Tawau and another 10 tanks to be given to the stations in Kudat and Keningau.
“The 400-gallon tanks will be placed at their stations and the rainwater can be channeled to the water tanks in the fire engines,” he said.
“If every house has rainwater harvesting tanks, no water will be wasted into the drains, and if all the government-linked companies (GLCs) and ministries buildings have these tanks, then such move can prevent flooding.
“In case of no water, the rainwater can also be used as non-drinking water like for cleaning, and watering plants, among others.” Chua said people can also download extra power from our solar panels to main grid during daytime and use it back at night time, through empowerment by the recently established Sabah Energy Commission.
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