KUCHING: Sarawak Housing and Real Estate Developers Association (Sheda) has urged the Sarawak government to consider waiving the capital contributions that private developers had to pay to Sarawak Energy Berhad (SEB).
Sheda president Augustine Wong Chung Ho said this wasin view of the continued increase in prices of building materials.
He said as a response to ensure that construction projects were still viable, the state government had allowed for Variation of Prices (VOP) for government projects.
“Although the substantial increase in costs of building materials and labour as well as other compliance and implementation costs affecting private property developers, they have no options but to continue building and delivering the units as promised.”
On a separate development, Sheda said it looked forward to the state government’s steps in monetising the state’s hydroelectric dam which could generate income that could be used for more development projects to propel local economic growth.
“Sheda is happy that the investments by state government and local stakeholders, especially property developers in Sarawak Energy Berhad (SEB) over the years have finally turned a small utility company into a regional utility giant that is able to stand on its own and continue to generate income for people of Sarawak.”