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Monday, 22 Apr 2019
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BIG BOOST FOR DEVELOPERS
16 September 2014

KUCHING: The government has decided not to change the period of tenure lease. This is to encourage the private sector`s participation in realty development, Chief Minister Datuk Patinggi Tan Sri Haji Adenan bin Haji Satem said. 

CHIEF Minister Datuk Patinggi Tan Sri Haji Adenan Satem (third left) pressing the button to launch the MetroCity Square while
Datuk Haji Daud Abdul Rahman, CKH Realty Chairman/Managing Director Chong Kia Hoi (second left),
Datin Patinggi Puan Sri Dato Hajah Jamilah Hj Anu and State Secretary Tan Sri Datuk Amar Morshidi Ghani look on.
PHOTO: RAMIDI SUBARI

He explained that if the land lease range is 99 to 999 years upon expiry, it will be reverted on conversion for another 99 years or 999 years. 

"So, there is no change. That is the new policy, and I hope it will encourage the private sector," Adenan assured. 

The Chief Minister also said that the government is also trying to reduce the capital contribution and is now talking with SESCo to somehow try to cut the capital contribution. 

"I hope our negotiation with the power supplier will be successful and that it will further encourage the private sector in this area," he said.

Adenan said this in his speech during MetroCity Square Official Launching and Signing Ceremony between CKH Realty and Boulevard Group of Companies at Imperial Hotel here yesterday.

He congratulated Chong Kia Hoi the founder, chairman and managing director of CKH Realty Sdn Bhd for starting the MetroCity Square Project in Matang. 

"Chong Kia Hoi has started not just another housing project, not just another row of shops, not just another small property development, but he is building a city, he is building a metropolis, a modern city, vibrant with all the modern facilities. He is creating an environment, pleasant, livable environment, not just another row of shop houses or another row of houses.

"This will increase employments; this will generate more businesses and attract to that area which was all jungle before. From jungle area it will rise to become a metropolitan in years to come, which we in Sarawak should feel proud," Adenan said.

"The Mayor is smiling because with this Metro City there will be assessments to collect for DBKU, so I hope after this project don`t increase the assessment rates. You have to consult me first before you can increase the rate," Adenan said in jest.

He said with the new Matang Road extending all the way until the 2020 Federal Area, the area will be further developed for realty businessmen. As the population of Kuching is increasing, the area will be opened up, he pointed out. 

"I will not be surprised Matang will become an economic engine for Kuching and for the region, one with modern shopping facilities, McDonald, Kentucky and others.

" The government`s intention of course is to broaden Jalan Matang bit by bit, so that it will ease the traffic which is terrible during peak hours. But with the new road coming in the traffic congestion will be relieved," he said. 

Adenan hoped that MetroCity Square will be a successful project and will be a nucleus for further development.

The RM250 million-MetroCity Square is part of the ongoing 183-acre MetroCity Matang New Township development.

Earlier on, in his welcoming speech, Chong said MetroCity Square is situated in the heart of MetroCity`s business district and is the first step in the creation of the Central Business District of Matang. 

"There will linear greens and parks to encourage residents to adopt a healthier lifestyle. Sports and games can be played in the multi-purpose town hall while a mosque and a church shall be built for the spiritual needs of the community. 

SIDMA College /UNITAR University will set up base within the township and provide tertiary level courses.

We will create man-made lakes, high-end condominiums and apartments, aged-care residences and housing of various types. Gated and guarded communities will be introduced on a large scale, linked to the township`s private medical centre for emergency medical and health services. 

"MetroCity Square is situated within a large commercial centre including 314 new shops, petrol stations, F&B drive-thru, a transportation terminal and an education college amongst others. This area will see thousands of businesses and services being offered to residents and visitors alike.

"What is required next is for the banks to come in and set up base in MetroCity. I urge all the bankers in attendance today to take serious note and consider the excellent opportunity to set up your presence here in MetroCity, " he said. 

Chong said Boulevard Group would also be coming in to set up their department store and supermarket. 

At the launching yesterday, seven charitable organisations received donations totalling RM150,000 from CKH Realty.

 

(Taken from The New Sarawak Tribune)


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