Kuching, Sarawak with a RM11 billion GDV development

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Yes, I am a Kuching lover. Too bad, I do not yet own any condo there yet. However, my next trip there is in December. Let’s see if I have at least a bit of time to view some projects. Secondary ones I guess since it should not be too far away from Kuching city if I need to rent it out to some working professionals. Any AirBnB specialists reading this now, feel free to send your contact to me. Perhaps I can contact you next year. Well, currently, I do not have enough savings but nothing wrong to view right. Getting to know more is always better. Here’s a list of things to do in Kuching by a local site, ‘Where’s Sharon’.

Reported in TheStar today, One listed company, Zecon Bhd is planning a mixed property development project in Kota Petra, Kuching. The total gross development value (GDV) is RM11bil. It’s chief executive officer Syed Muzakir Al Joofre said this about the Kota Petra project, “The project comprises multiple clusters, including proposed state and federal new administrative centres, tourism enclave, education city, resort destination, integrated affordable homes and a medical city.” This will be Zecon’s largest property development project. He was speaking to reporters after an investors’ briefing on its financial year 2017 full-year results on Thursday. He shared that Sarawak’s state planning authority has approved the 1,203ha Kota Petra project. it includes PR1MA homes too, with a total of 1,065 units within a 49.4 ha land. Besides that, there is also a 105.6ha 1Malaysia Civil Servants Housing (PPA1M) project with a total of 2,332 units.

I think this is certainly good news for many people, especially those who has lamented the fact that even Kuching properties are becoming too expensive. Certainly they should quickly register and take advantage of these units. Kuching’s property was listed under the severely unaffordable category undder Malaysia’s housing affordability index. Reported in TheStar not too long ago, Sarawak’s property was in the severely unaffordable category of Malaysia’s housing affordability index. According to its Local Government and Housing Minister Datuk Dr Sim Kui Hian, Sarawak’s low-income group needs about 60,000 units of affordable homes currently. A check with brickz.my showed the typical price for Kuching’s condos. Happy thinking about Kuching properties and happy following.

written on 9 Nov 2017

Next suggested article:   More investments, more jobs and more property demand

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