/// Exclusive Interview
Sandakan’s Property Driving
Force Since 1979
T
he Wah Mie Group (WMG) has
been in operation for the last
35 years and today, it is one
of the largest property developers
in Sabah. Its home base is in
Sandakan, where its name is popular
among the locals. In 1995, WMG
ventured into the property market in
Kota Kinabalu.
The founding members of WMG
were active in the timber and
plantation industries in Sandakan,
but they had a vision to venture
into the property development
business. When they first began,
property development was still at an
infancy stage. It was not the ‘in-thing’
in Sabah, but they saw its future
potential.
Since its inception, WMG has
built more than 20,000 units of
housing of various types, from
low-cost apartments to affordable
homes, luxurious detached and
semi-detached houses as well as
multi-storey luxury condominiums.
Plus, they also started venturing
into mixed developments and
commercial properties such as the
highly anticipated Sejati Walk in
Sandakan.
According to Managing Director
Quek Siew Hau, the company went
through tough times especially
during the economic recessions, but
with hard work and determination,
they managed to rise further and
become what it is today.
He said, “The property market in
Sabah has been booming in the
last 10 years, and this is mostly due
to ease to get loans, low interest
rates and rapid infrastructure
developments. Because of the
roads connecting to the suburbs,
areas such as Donggongong,
Tuaran and Putatan have become
very prosperous. This is part of the
reason why property prices have
been rising steeply especially over
the past three years.”
He adds: “However, I expect the
property market to slow down
except for niche properties.
Because of the new restrictions and
tightening of government policies, a
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lot of genuine buyers are turned off
from buying properties. The lower
income can’t afford it anymore. Even
affordable homes are difficult for
them to purchase because of the
restriction.”
“Both the federal and state
government need to support this
industry and not be too strict. It’s
unfair that the regulations are
applied across the board. It is right
to have these rules for expensive
properties, but not for affordable
homes. It’s almost impossible for
first time buyers especially young
couples and new families to own
their own homes. I suggest that
the government reformulate the
procedures and break it down
according to sector, pricing and
area. You can’t compare Sabah to
Kuala Lumpur of Penang,” Quek said.
The property sector contributes
largely to the economy of the
state and according to Quek, the
government cannot let the market
die down. And one way to make
the state more prosperous is to get
more foreigners to invest in Sabah
properties. Quek believes that our
state has a lot to offer foreigners,
and Sabah is naturally blessed.
There is a lot of potential to tap into
this market however it should be
controlled by the government to
avoid speculation.
To cater to the influx of population
in the future, WMG is in the midst of
both completing and planning a lot
of upcoming projects. This includes
Sejati Walk in Mile 7, Sandakan
which is estimated to be completed
in 2017. Sejati Walk will connect
the surrounding community which
consist of 30% of the Sandakan
population. This includes residents
from Taman Sejati Ujana, Taman
Fajar, Taman Khong Lok, Taman Sri
Rimba, Taman Megah and Taman Sri
Wijaya.
Quek said, “This two-storey open-air
mall consists of 340 units, plus a 54
feet walkway in the centre which
has vegetation, natural light and 24
feet fans that will provide ventilation.
It will also have ample parking,
and round the clock security. The
/// EXCLUSIVE INTERVIEW
Both the federal and state government need to
support this industry and not be too strict. It’s
unfair that the regulations are applied across
the board. It is right to have these rules for
expensive properties, but not for affordable
homes. It’s almost impossible for first time
buyers especially young couples and new
families to own their own homes. I suggest that
the government reformulate the procedures and
break it down according to sector, pricing and
area. You can’t compare Sabah to Kuala Lumpur
of Penang.
average size of a unit is between
300 to 500 square feet, with prices
at RM700 per square foot. We
launched only in January this year
and we have already sold all the
units on the ground floor and 50%
of the units upstairs.”
“We aim for Sejati Walk to be the
next iconic destination in Sandakan.
Wah Mie itself is keeping over 48
units to be developed into the first
food street in Sandakan. We are
getting all the famous restaurants
and coffee shops to come in and
rent an outlet at a reasonable
price. Malaysians love food and this
will surely bring in the crowd. We
are also looking forward to have
activities such as exhibitions and
festivals,” he added.
WMG is also in the process of
developing the concept for the
second phase which will include
Sejati Walk 2, hotels, a large
supermarket and a wet market.
Quek wants to develop the area into
a one-stop centre that will not only
cater to locals but to tourists as well.
The Group is also looking towards
building more residential and
commercial properties on their large
land bank in Sandakan. This includes
a mixed development on a 260-acre
land in Karamunting which overlooks
the bay, plus over 700 residential
units of condominiums in Mile 4.
In Kota Kinabalu on the other
hand, WMG is currently planning
to further develop the Sepanggar
area with two affordable high-rise
developments which will be selling at
RM35 onwards per square foot for
800 square feet units. Other areas
that will be developed by WMG
include a 770-unit condominium
in Likas and landed properties in
Bandar Sierra.
Allthough it is not easy to build
affordable housing anymore due to
the new regulations, the inflation,
the depreciation of the Ringgit and
the increase of land prices, Quek
said that WMG will continue to
do their best in providing for the
people and the market place. WMG
previously received the SHAREDA
Platinum Award for their efforts in
selling affordable housing below
RM250,000.