KUCHING: Sarawak is set for significant economic growth and dynamic property development in 2025, with strong government initiatives and sustainable strategies leading the way.
In stating this Sarawak Housing and Real Estate Developers Association (Sheda) adviser, Datuk Sim Kiang Chiok, highlighted the global geopolitical landscape’s potential impact on the economy.
“The global outlook will be influenced by significant geopolitical developments, …while these events bring a mix of stability and uncertainty, the potential imposition or increase of tariffs on imports by the US, particularly from major economies like China, may slow global economic growth,” he said in a press statement today (Jan27).
Despite these global challenges, Sarawak is well-positioned to thrive, driven by several key factors outlined in the state’s Post-Covid-19 Development Strategy (PCDS) 2030, he said.
Sim added that the Sarawak Corridor of Renewable Energy (SCORE) remains a cornerstone for investment, focusing on green technology, manufacturing, and infrastructure development.
Under the visionary leadership of Sarawak’s Premier, the state government is focusing on transformative projects such as renewable energy initiatives, digital economy expansion, and infrastructure development.
The restoration of Sarawak’s autonomous rights, including gas distribution, is expected to bolster revenue streams, supporting landmark projects like the proposed deep-sea port and state-of-the-art airport, he said.
Sarawak’s diversified economy, spanning agriculture, energy, manufacturing, and tourism, further strengthens its resilience.
Notable growth is anticipated in renewable energy, carbon capture projects, and eco-tourism, which will attract both local and international investors.
“The property sector in Sarawak is set for steady growth, with increasing demand across residential, commercial, and industrial properties. The rising population and housing incentives will drive demand for affordable and mid-range housing in urban areas like Kuching, Miri, Sibu, and Bintulu.
“Expansion in the digital economy and tourism sector will boost demand for retail and office spaces, particularly near transport hubs and tourist destinations. Investments in renewable energy and manufacturing will fuel demand for industrial parks and logistics hubs, especially within the SCORE region,”he said.
“Developers are expected to focus on environmentally friendly, sustainable real estate projects to meet market expectations and regulations.”
He added that for Sarawak, the coming year promises not only economic growth but also a step forward in sustainable and inclusive development.
