KUCHING: Inline with global ownership trends, Hock Seng Lee (HSL) is introducing a rent-to-own scheme for Vista Industrial Park (VIP), adjacent to the Sarawak Government’s mammoth Sama Jaya High Tech Park.
HSL selected VIP as its first rent-to-own scheme due to high demand from small and medium enterprises (SME) for business park units.
“A lot of new SMEs have grown over the past year. New challenges have brought about new opportunities. Our VIP receives many enquiries from new entrepreneurs but many may not immediately want to buy a unit in full. They like to rent first, own later. That is why HSL is launching its first RTO for SMEs,” leasing manager Trish Lui said.
“There are new global trends that HSL is picking up. RTO has many benefits to end-users: They get a new working premises immediately but are not tied down by long-term loans. At the same time, upon signing RTO, the buying price is locked in. RTOs also come with little or no downpayments depending on the package.
“Monthly, a portion of their rentals goes into a downpayment — so it’s like savings to achieve a smaller loan eventually.
“As a developer that started from humble origins, we are more than glad to find new alternatives for the private sector to grow.”
VIP is located strategically in the state capital, about equal distance from the international airport, seaports, city centre and Sejingkat industrial zone.
VIP shares a common highway — Jalan Setia Jaya/Usaha Jaya — to Sama Jaya, a free trade zone with exports of RM5bil per annum. Among multi-national companies there are X-FAB Silicon Foundries, Taiyo Yuden Co Ltd, Western Digital Corporation, Toko Inc, and LONGi Silicon Materials Corp.
VIP was officially launched a year ago to brisks sales. At 200 acres, it is currently the largest privately developed business park in Sarawak. Units are double-storey, semi-detached or detached, from 3,053sqft of walled-up space with land areas from 13.84 points, to 5,658sqft and 32.37 points.
Units are designed to be flexible. Features include XL-sized openings, easy maneuverability for heavy vehicles, high-ceilings, and uniquely, a walled-up staircase to the second floor. Workshops or storeroom operations on the ground floor do not disturb upper floors, which can be offices.
So far, VIP owners have found a variety of usage including as a central kitchen for a popular Sarawak franchise, a testing lab for public utilities, car workshops and retail showrooms.
“HSL always tries to offer more and better features in our products. This starts from the planning stage.
For VIP, we have reserved a 3.3acre central garden, a feature rarely seen in industrial parks in Sarawak. To our delight, the units around the park have proven the easiest to sale. It shows simple innovations are appreciated by the business community here. Now, we hope our RTO will be the next innovation,” Lui said.
HSL is reserving about one-third of the 200acre site for its own use, where it will centralise all its ISO- and SIRIM-grade manufacturing facilities.
The multi-award winning Jurubina Unireka masterplanned and designed the lots for HSL’s VIP. In Jan 2020, VIP won two Sheda Excellence Awards in the masterplan and commercial categories.
For more information, visit hsl.com.my or contact 013-8365566.