Malaysia

Have clear road map for post-vaccine period, say Sarawak developers

The property overhang in Sarawak remains ‘small’, with about 2,100 units worth RM838.5 million unsold. (Bernama pic)

KUCHING: A grouping of property developers has urged Putrajaya to come up with a “clear and transparent” Covid-19 exit plan as the country begins its immunisation programme.

Sarawak Housing and Real Estate Developers’ Association said this would give investors and businesses clarity on the way forward.

“We already have the vaccines, so what we (businesses) need now is a clear and transparent exit plan or road map. Otherwise, it will be difficult for any investor or business to do much,” its vice-president, Sim Kiang Chiok, said in a statement.

Sim hoped the country’s borders can be reopened in the third quarter of the year if herd immunity is achieved in the community.

He also called on Putrajaya to continue assisting businesses through the extension of wage subsidies and automatic loan moratoriums.

On the property sector in the state, Sim said the overhang situation remained small, with only 2,100 unsold units worth RM838.5 million.

The reason for this, he said, was not because of prices alone as the unsold units included affordable homes.

“There are other factors such as poor location, unsuitable types and designs. Besides, we do not have that many Bumiputera lots forming part of the overhang, like the situation in the peninsula,” he said.

He was optimistic on the 2021 outlook because of the expected economic rebound.

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