Govt to announce My 2nd Home programme soon
KOTA KINABALU: The State Government is expected to make an announcement on the Sabah-Malaysia My Second Home (SBH-MM2H) programme in a month’s time.
Sabah Economic Advisory Council (SEAC) chairman Tan Sri David Chu said the SBH-MM2H programme will stimulate the property market in Sabah as foreigners consider Sabah a haven.
By purchasing a property at a minimum value of RM600,000 here, foreigners will be eligible to apply for the programme, he said.
“The My Second Home programme is being handled by the Minister of Tourism, Culture and Environment Datuk Christina Liew.
“I believe there will be an announcement by the Minister of Tourism, Culture and Environment Datuk Christina Liew in another month’s time,” he said when met at the Chinese New Year celebration at Jesselton Twin Towers here on Friday.
Chu, who is the executive chairman of Jesselton Group, said the Jesselton Twin Towers project is 100 per cent completed and the occupancy certificate (OC) is expected to be issued by the end of February the soonest.
He said construction of the 56storey high condominium towers with a total of 819 units began in 2019.
“The two years of pandemic was incredibly challenging for us.
“But most importantly, we were able to complete and deliver the project to our customers, much to their satisfaction.”
Chu said he was elated to see the completion of the Jesselton Twin Towers, having experienced the challenges brought about by the pandemic.
“This is not only my dream, but the whole team’s, including my employees and consultants.
“We – the customers, consultants, bankers and lawyers - are very happy that the project is finally completed.”
Located off Jalan Bersatu, Damai, Chu said the Jesselton Twin Towers is an iconic landmark not only in Kota Kinabalu, but also in Borneo and Malaysia.
He added that all 56 levels are private residences, not mixed development.
Furthermore, he said residents will get to enjoy the 50-metre swimming pool, rooftop garden and bar, among other facilities.
He continued to say that another advantage living at Jesselton Twin Towers is that many of the residents are young professionals and entrepreneurs, giving one the opportunity to expand their network.
Presently, he said 80 per cent of the units have been sold, and up to 80 per cent of the buyers are locals.
Nonetheless, Chu believed that the implementation of the SBH-MM2H programme will help stimulate the real estate market in Sabah.
He urged those who are interested wish to seize the opportunity to purchase a unit at Jesselton Twin Towers.