Satta inks MoU to promote property tourism with China’s real estate group
KOTA KINABALU: Sabah Association of Tour and Travel Agents ( Satta) and China’s real estate group, Seres Property, yesterday inked a memorandum of understanding ( MoU) to promote property tourism in Sabah.
Under the MoU, Satta president Datuk Seri Winston Liaw said, Seres Property would bring Chinese property investors into the State.
He said the current sentiment of the property market in Sabah was low due to the situation of local buyers being unable to afford and the stringent requirements for bank loans.
“We now depend on foreign investors to push our market,” Liaw said at the property tourism talk jointly organized by Satta and Seres Property here yesterday.
In fact, he said, Seres Property has rented six units at Jesselton Residences as a show gallery for local properties, including The Shore as well as projects developed by Jesselton Waterfront Holdings Sdn Bhd and Kinsabina Group.
He added that the Beijing-based real estate company has offices in all the Chinese cities which have direct flights to Sabah.
Liaw believed that the collaboration between Satta and Seres Property would not only boost the local property market, but also promote the tourism industry in Sabah.
He said, the Chinese investors would also visit tourist attractions in Sabah while here looking at the properties, which in turn, would benefit the local travel agencies and tour guides. About 430,000 Chinese tourists visited Sabah last year.
On another note, Liaw said, Seres Property would be sponsoring RM10,000 for the Satta Night over the next three years.
Also present were Seres chief executive officer, King Jin, Kinsabina Group chief operating officer, Datuk Gerald Goh, and Sabah Housing and Real Estate Developers Association (Shareda) president, Chew Sang Hai.