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Published: Friday May 9, 2014 MYT 12:00:00 AM
Updated: Friday May 9, 2014 MYT 2:44:35 PM

SOP embarks on housing development targetted at lower income group

Attractive proposition: SOP’s 200-acre land that it will develop for affordable homes within the means of the lower income group.

Attractive proposition: SOP’s 200-acre land that it will develop for affordable homes within the means of the lower income group.

MIRI: The rapid surge in property price of 5% to 10% annually is making it tougher for the young generations to own houses nowadays.

Price of houses has increased in the recent years. In popular housing estates, a residential property sells at least RM270,000 nowadays.

However, those longing for affordable homes must be thrilled to know that major plantation player Sarawak Oil Palms has a new development of affordable homes in the works.

Located about 40km from Miri city, at the junction of Bekenu Feeder Road, it is noticeable that a beautiful and solid land — 200 acres in size — has been cleared. It is a strategic location, with SK Kelapa Sawit No.1, SMK Luar Bandar and Klinik Tun Abang Haji Openg all within walking distance.

With a petrol station and Pusat Rehat Bekenu nearby, it is a stopping point for the road travellers to rest and meet.

In Phase I, over 500 units of houses will be built — 380 units of affordable single storey terraced house, and the rest, medium-cost single-storey terraced and semi-detached houses.

Prospective buyers can expect the affordable homes to be priced below RM150K per unit, which is within the budget of lower-income families.

Other than housing development, also under proposal is commercial development of 100 over units of shoplots.

Those involved in plantation business nearby can start up with less capital cost, as the price of the shoplots in the area is estimated to be at least 30% lower compared to in the city.

SOP has a vast land connecting to this cleared land. Future plans include other retail and leisure facilities such as wholesale hypermarket with retail space, petrol station, drive-through restaurant, schools, parks, playgrounds and industrial properties.

“Watch out for launches soon,” a company statement yesterday said.

Tags / Keywords: Business, East Malaysia, sop

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