REALTORS at PropNex Group hailed the Gabungan Rakyat Sabah (GRS) Sabah Government’s friendly investment direction, and its drive to attract foreign buyers of strata property with the qualifying threshold of RM600,000.
The PropNex Group of real estate agents totals some 15,000 real estate professionals from Singapore, Indonesia, Philippines and Vietnam will be marketing Sabah’s potential in a major drive from 2022.
PropNex Malaysia Chief Executive Officer Marcus Teng told Daily Express they are confident and excited about the potentials of Sabah and are keen to explore these opportunities with regional network of clients.
“I understand the Sabah Government also announced plans to double the size of the State economy and this means solid business opportunities towards the RM200 billion mark.
“We will focus on our West Malaysian and Singapore network first. West Malaysians too have the necessary capital and experience to invest here in Sabah. It is the same – when the West Malaysians invest here, jobs are created and spin-offs will benefit many on a multiplier effect basis,” he said.
Teng noted that Sabah has a growing economy and this growth is from a relatively low base.
He said this translates to possibly exciting potentials and opportunities. The pillars of the Sabah economy including oil and gas, palm oil and tourism are basically solid.
“The Sabah Maju Jaya (SMJ) development initiatives with a focus on agriculture, industry and tourism will hopefully be implemented well and this is a plus point,” said Teng.
Teng is on a fact finding and familiarisation trip to Sabah together with Yuki Wan, the Chief Marketing Officer of PropNex Malaysia, as well as to host the PropNex Sabah Chinese New Year and Annual Awards Presentation Dinner.
They visited key commercial and industrial areas with attractive investment potentials in Sabah that include Kota Kinabalu Industrial Park (KKIP), Inanam, Lok Kawi and Kolombong.
On the final leg of their fact finding trip, they checked out and enjoyed some tourist attractions from Semporna to Pulau Mabul, Bohey Dulang, Pom-pom, Kapalai, Sibuan and other resort developments.
Teng said compared to West Malaysia in general, Sabah’s economy is at a lower base and less saturated.
“This means great growth potentials and less competition for entrepreneurs who venture here. Furthermore, the business environment and ways to do business is not dramatically different from West Malaysia.
“Hence, all in all, Sabah can be a preferred choice for West Malaysian businessmen and for Sabah indeed the West Malaysian investors represent ‘low hanging fruits’ to harvest. However, as in all courtships, the ideal policies friendly to West Malaysian investors need to be put in place.
“We will work with Team PropNex Sabah and see how best to capitalise on our network and try to identify investors keen on Sabah.”
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