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Borneo, Malaysia, Sarawak, Sarawak Corridor of Renewable Energy (SCORE), Sarawak Economy, Sarawak Politics, Sarawakian

Property sector upbeat about opportunities created by SCORE

The property sector is excited about the many opportunities created by the Sarawak Corridor of Renewable Energy (SCORE). In fact they are so positive that they feel insulated from the economic crisis faced in Europe and the US!

And rightly so. All the industries that will be setting up in areas such as Samalaju in Bintulu will require workers. These workers will require housing.

Sarawak Housing and Real Estate Developers’ Association (Sheda) president Zaidi Ahmad said SCORE is an attractive destination for capital investments with the supply of energy from Bakun Hydro Dam on track.

“With the setting up of several multinational international companies, the central region in Sarawak is expected to see an influx of thousands of local workers and from abroad gainfully employed in these plants.

“These workers and their families will need their own accommodation as the companies may not be able to cater for the accommodation need of every employee. The demand for affordable housing for the workers will certainly outstrip the supply,” he is reported saying in The Borneo Post.

Meanwhile, Sheda Bintulu liaison chairman Troy Yaw was reported by Bintulu.org as saying that at present, 200 Japanese families have already settled in Bintulu!

“I don’t know how many more this high income, big sepnding group of people will be coming. But it certainly is a very welcome news to us,” said Yaw.

While some members of the opposition may jump on this and say why aren’t these jobs being given to Sarawakians, well often times it is because, sadly, we do not have the right people for the job.

This will slowly change though because more and more of our students are being trained in the relevant areas and in the long-term, we will not have to rely on foreign workers. That is if we Sarawakians do our part to equip ourselves with the right skills and knowledge to seize the opportunities which the government has provided. We will definitely be able to learn from this experts as well, right in our own backyard.

Anyway, in the meantime, it should be noted that expatriate families will also help to stimulate the economy. Besides housing, they will also require cars, electrical and electronics, furniture and other big ticket items to live comfortably at the standards they are used to in their developed nations. Local businesses will definitely benefit from this.

Having an international community in our midst will also start to improve our local service industry. Such families will also likely host family and friends from abroad, or decide to explore this great state of ours themselves. This will undoubtedly boost tourism as well.

The opportunities and possibilities in SCORE are endless. They are not just promises and just talk, but concrete plans that are already starting to take shape. What are you going to do to seize these opportunities?

A report from Bintulu.org

Property sector upbeat about growing demands, opportunities created by SCORE

Residential and commercial property prices here are set to remain high and unlikely to drop in the near terms.

The reasons for this is the steady demand driven by government development initiatives like the Sarawak Corridor of Renewable Energy (SCORE).

These same initiatives are also giving local developers the feeling of being insulated from the economic woes plaguing the US and Europe.

In fact, several big developers here already gearing up to boost their property inventories, anticipating a much bigger economic boom triggered by SCORE projects.

Sarawak Land (Kemena Park) Sdn Bhd, a subsidiary of timber giant Samling which owns a piece of prime land in the middle of ParkCity Commercial Centre, has started construction of the town’s largest mall cum hotel.

It will have all the features of a modern mall, while the four boutique hotels at each of it four corners will have a total capacity for 280 rooms.

Less than 15 minutes away from the Bintulu Commerce Square, another equally big shopping mall, the Times Square, is also shaping up.

Expressing his optimism, Troy Yaw Chee Weng, the Sarawak Housing and Real Estate Developers’ Association (Sheda) Bintulu liaision chairman said: The first and second booms created by the oil and gas industry have transformed this once fishing village into a vibrant industrial town, Bintulu is today.

Troy Yaw Chee Weng – SHEDA Bintulu liaison chairman

“But the third wave of development, a more exciting phase of Bintulu transformation and development, will be driven by SCORE initiatives.

“I believe this third wave is so much bigger and will last much longer. Until today no one is really able to comprehend how big it’s going to be.

“There will be plenty of opportunities,” Yaw said.

According to Yaw, that bright outlook, coupled with the scracity of land in the central business district and the expected influx of big spending expatriates, will push up property prices here.

“We’ve been told there are more than 200 Japanese families already settling here in Bintulu.

“I don’t know how many more this high income, big sepnding group of people will be coming.

“But it certainly is a very welcome news to us,” added Yaw.

Yaw is also a board member of Samling Strategic Corporation whose many subsidiaries have been actively exploring business opportunities in the SCORE area.

Asked if property value in Bintulu remain attractive investors in the years to come, he said: “Grab the opportunities now, because as an early bird you will reap the benefits from your investments even over the next three years.”

Yaw foresees residential and commercial property value in Bintulu appreciating faster than before once the SCORE development projects are in full speed.

“Our mall floor space sales are very encouraging, something we have not seen before in Bintulu. We expect a sell-out before the completion date in 2013,” he added.

BDA general Manager Datuk Mohidin Ishak, when asked for his comments, said he was upbeat about property prices and sales.

He said if one was looking for business opportunities, Bintulu would have plenty because it was striving to achieve city status by year 2020.

“For this to happen, it must be ready to have a well-planned central business district, hotels, high-end residential areas, shopping malls and recreational centre.

“All this is taking shape, meaning they are spinning off opportunities, not only int he town proper but also in surrounding places like Kidurong, Samalaju, Sebauh and Tatau.

“I dare say, with big money earned, purchasing power will be greater, therefore, one can expect property prices and value to respond accordingly,” Mohidin said.

The report from The Borneo Post:

Sheda upbeat about housing growth in SCORE

By Yunus Yussop

BINTULU: Sarawak, Bintulu in particular, is now on the threshold of achieving high economic growth with foreign direct investors setting up plants in Sarawak Corridor of Renewable Energy (SCORE) areas like Samalaju.

SCORE, according to Sarawak Housing and Real Estate Developers’ Association (Sheda) president Zaidi Ahmad, is an attractive destination for capital investments with the supply of energy from Bakun Hydro Dam on track.

“With the setting up of several multinational international companies, the central region in Sarawak is expected to see an influx of thousands of local workers and from abroad gainfully employed in these plants.

“These workers and their families will need their own accommodation as the companies may not be able to cater for the accommodation need of every employee.

“The demand for affordable housing for the workers will certainly outstrip the supply,” he said.

In the interest of the industry and the continued growth of SCORE, he urged developers in Sarawak, particularly those in the central region to seize the opportunity to look into planning strategic housing development in SCORE to meet the demand for housing arising from the influx of workers to the central region.

“Indeed, Bintulu Development Authority (BDA) being the sole government authority tasked with the development of Bintulu has gained more importance and prominence in playing a bigger role.

“We trust BDA will constantly address ways to improving efficiency in service delivery as demand for speed and efficiency is imperative for private sectors to invest vigorously.

“The Bintulu market outlook is robust and very encouraging with higher take-up rates and modern design and architecture as can be seen in this hall,” said Zaidi.

Developers, he said, are ever ready to roll out enough supply to meet market demand.

“Hence we pine for faster service delivery in building plan approvals and other administrative chores that BDA could further improve.

“Our message to buyers and investors alike, visit this expo to make an informed decision before buying a home or making other property investment,” he said when speaking at the opening of Sheda Home & Property Roadshow 2011 held from yesterday until October 13 from 9am to 9.30pm at ParkCity Everly Hotel.

Sheda had just completed staging a successful Sarbex 2011 at Borneo Convention Centre Kuching (BCCK).

As a continuance to Sarbex, Sheda Home & Property Roadshows are organised yearly in Sibu, Bintulu, Miri to transmit the concept of promoting home and property ownership and investments.

Sheda is happy to note that the first of the series of roadshows this year began in Bintulu, to be followed by Miri and Sibu in November with the final show in Kuching in January next year.

“We at Sheda have every confidence that Sarbex and Sheda series of Home & Property Roadshows throughout Sarawak will continue to be well received,” Zaidi added.

Representing BDA general manager Datu Mohidin Ishak as the guest of honour was his assistant general manager Pulusagi Tran.

Also present at the function were Sheda deputy president Joseph Wong Kee Liong, vice president cum branch liaison chairman Troy Yaw Chee Weng and organising chairman Yek Nai Kwong.

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