PENAMPANG: The State Government encourages developments and projects that will boost the Sabah My Malaysia Second Home (Sabah MM2H) initiative, making Sabah an attractive destination for foreigners to live and invest in.
Deputy Chief Minister cum Local Government and Housing Minister Datuk Seri Dr Joachim Gunsalam said, at the same time, developers are also urged to prioritise building affordable homes to cater to the growing demand.
“To achieve our goals of a healthy and accessible housing sector, we must work collaboratively between the Government, property developers, financial institutions, and other stakeholders,” he said at the ITCC Penampang 1st Property Fair and Dinner, here, Friday.
“Our shared objective is to create an environment that promotes growth and development.
“The Government recognises the importance of supporting developers to stimulate the property sector and market.
“To this end, the Government have implemented incentives such as tax breaks, subsidies and the recently announced Federal Budget 2023 stamp duty exemptions.
“In the near future, Sabah MM2H will also be launched to attract more foreign investments into Sabah.”
However, he said, the focus must remain on addressing the shortage of quality affordable housing in Sabah, which has become more urgent due to the Covid-19 pandemic.
