Property Hunter Magazine Issue 91 - August 2017 | Page 66

PROPERTY NEWS PROPERTY NEWS  by Borneo Post Sabah’s property market booming with catalytic projects Shine bright like a diamond Today, Sabah’s property market is booming, especially in Kota Kinabalu, underpinned by rising private investment and the expansion of tourism industry into Sabah’s real estate sector. Sabah’s property market has been fairly resilient Government always welcomes private property during the period of 2008 to 2014. Over the past entities to venture into Sabah’s property years, economic activities have remarkably market. improved since the implementation of Sabah Development Corridor (SDC) projects, especially The growth of Kota Kinabalu’s property those related to tourism. Following the increase market is definitely encouraging. Currently, in touristic attraction sites in Kota Kinabalu, the government aims to address property the city has seen an increase in tourists coming affordability via the “Malaysian My Second in from the likes of China, Thailand, Korea, to Home” (MM2H) Scheme. In line with this, name a few. foreigners and tourists, especially those who regularly travel here to make Sabah their The development of the iconic Pan Borneo second home, are encouraged to take up this Highway and RM1 billion Bus Rapid Transport scheme. will be a boost to the domestic business activities. It is apparent that these will provide Undoubtedly, Kota Kinabalu is the ideal extra unique selling points for the property location to apply MM2H with its strategic sector here in Sabah. location and accessibility, adding that there is increasing demand for properties. Today, Sabah’s property market is booming, especially in Kota Kinabalu, underpinned by With the handful catalytic projects going on, rising private investment and the expansion of growth and investments will undeniably be tourism industry into Sabah’s real estate sector. spurred further. Moreover, the existence of direct flights from various countries to Kota As the State continually strive for more socio- economic development, the Sabah State 66 www.PropertyHunter.com.my Kinabalu is an added benefit.