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New 4,000 units of affordable homes closer to city centre!

When it comes to homes, Malaysians in general prefer to stay as close as possible to their working place. Nope, not because they love their office but they prefer to face as little traffic jam as possible. Staying nearer also meant that they could sleep more and wake up later and still be on time to the office. These are the perks of staying very close to the working place. It’s the same everywhere which is why properties within the city centre is usually far higher than properties 30km away for example. Here are good news for Kota Kinabalu folks.

Article in propertyhunter.com.my Local Developer, Wecojaya Sdn Bhd is now developing City Residences in the proposed location of Alam Mesra, near University Malaysia Sabah, Tun Mustapha Tower and One Borneo Hypermall. This is part of the Ministry of Local Government and Housing to help ensure more affordable housing closer to the city of Kota Kinabalu to meet the demand of the growing population who are in need of housing, such as the M40 group.

The programme is called My First Dream Home and it is aimed at the M40 group. City Residence will stand tall on approximately 21 acres of land in Alam Mesra. The affordable units will have a build-up of approximately 850 square feet and offer 3 bedrooms and 2 bathrooms. It will also boast ample facilities for the residents including a multi-purpose hall, surau, sport court, children’s playground and gym. Furthermore, 40 units of commercial shop lots within the project will address the needs of the community as well. The homes will not cost more than RM300,000 each. Please read the full article here. Article in propertyhunter.com.my

RM300,000 is indeed an attractive price. Kota Kinabalu is a city of probably around 600,000 people. This is huge. However, there are not a lot of land to build homes because it’s surrounded by hill slopes which are deemed unsafe for development of residential properties. This is why when there’s a need for any huge piece of land, it will usually be outside the city centre. In this case, University of Sabah is around 11km away from the city centre. This is where the affordable homes, City Residences are located. Let’s hope the development will be completed on time to benefit the targeted group. Hopefully we continue to see more of these initiatives all over Malaysia and not just in Kota Kinabalu.

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Header Image Source: City Residence and taken from propertyhunter.com.my

Next suggested article:  the KopiTalk #2: Let’s visit Kota Kinabalu!

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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