CM urges developers to apply for loans from Sabah Development Bank Berhad

KOTA KINABALU, Sabah Chief Minister Datuk Seri Mohd Shafie Apdal has called on Sabah property developers to apply for loans from Sabah Development Bank Berhad (SDB), in view of the fact that their applications to Kuala Lumpur banks have taken up to six months to process.

At the same time, he urged SDB to ensure that applications it received from developers were expedited.

Mohd Shafie said this at the 41st annual dinner celebration of the Sabah Housing and Real Estate Developers Association (SHAREDA) last night.

Meanwhile, SHAREDA president Chew Sang Hai proposed that the state government considers reducing the price ceiling for the ‘Sabahku’ second home ownership programme from the existing cap of RM1 million to RM500,000, in order to attract purchasers from outside the state.

Chew said such a move would help stimulate the economy and reduce the incidence of unsold properties or suspended projects.

Source: BERNAMA (News Agency)