Second shopping mall in KK receives subsidiary titles
KOTA KINABALU: City Mall is now the second shopping mall in the state to receive its subsidiary titles since the new state government took over in May.
A total of 375 subsidiary titles were handed over to the representative of Pan Far Eastern Sdn Bhd, the developer of the mall.
At the handing over ceremony yesterday, Land and Survey Department director Datuk Safar Untong presented the titles to Pan Far Eastern Sdn Bhd director, Patrick Lau Hui Kii, in the presence of Assistant Minister to the Chief Minister, Datuk Jimmy Wong.
“Once the registration of subsidiary titles has been completed, it will be up to the owners to establish a management corporation to run the commercial building.
“They can elect a council, which will perform the function of the developer to manage, control and maintain the common property. Owners are the ultimate beneficiaries of this subdivision of titles as they are now officially assuming full ownership and rights of their respective shop lots,” Jimmy said.
After City Mall, there are a few more high-rise properties that are still waiting for their subsidiary titles.
“Hopefully, by the first quarter of 2019, they would be able to receive their subsidiary titles.
Meanwhile, Jimmy reiterated that it is the responsibility of the developer to apply for the subdivision of land at their own cost and expenses, as long as it is stated in the sales and purchase agreement.
“In other words, charging the purchasers for the procurement of subsidiary titles will go against the law,” he said.
Jimmy also urged developers in Sabah to be more efficient in surrendering titles to their respective buyers.
“Some developers are quite slow in engaging and surrendering the titles for subdivision and this causes a lot of problems to the buyers. If the developer does not fulfil his responsibility to the buyer, the buyer would lose confidence on the developer,” said Jimmy.
He stressed that the title should be surrendered as soon as the particular project has been completed.
“In fact, the Land and Survey Department has revealed that most of the applications for subdivisions have been approved … it is up to the developer to act fast and engage with the surveyor … they have to pay the premium and the surveyor,” Jimmy added.
He urged buyers, particularly those who have purchased highrise buildings, to contact his office if they still have not received their titles.