I'm from Miri, but currently residing in KL (Seputeh area).

For the commercial market, I don't follow it that closely, but based on my experiences with people who have invested in shoplots, I can say that it's not doing too well nowadays. My dad bought a shoplot at the Eastwood Industrial Park 2 years ago and up till now, no tenant moved in. As for the Waterfront, the commercial lots are completed, but not many tenants moved in yet the last time I was there back a few months ago.

If I were you, I'd better wait until the property market improves because according to my dad, he saw a lot of 'For Sale/Rent' on quite a number of shoplots dy, including the ones at the Waterfront.

Seems like there's an oversupply of commercial properties not only in Miri but in a number of cities in Sarawak like Bintulu and Kuching. If oversupply in residential properties, that's still able to rectify as there are always people looking for a place to stay/rent, regardless of a recession or not.

Shoplots/Commercial units, on the other hand, not everybody needs to set up a business and I'm sure those who do are not that many compared to salaried workers. Talk about a mismatch of demand and supply.

This post has been edited by DesRed: Jul 28 2017, 09:57 AM

Most, but not all. I know my dad is cursing that Eastwood Industrial Park shoplot that he bought 2-3 years ago coz up till now, no tenant wanted to set up shop there and he still continue to pay the monthly installments some more. He runs his own business, btw, but pretty small scale.

Right next to Eastwood Valley golf course if you're referring to the Eastwood Industrial Park.

I would say those people fall under the minority in Sarawak. Based on my observation, most Sarawakians still prefer landed properties and a condo to them is still outside the norm for now.

That might change as the years pass by, but still a long way to go for that to happen.

I'm a Mirian myself and I also agree with this. Based on my last visit, I can easily count the number of condos in one hand.

As long as there's still lots of land to develop housing estates and the travelling distance isn't too far, most, if not all, Mirians will still go for landed over a high-rise.

Based on what I saw of the crowd in any Kuching shopping mall, I noticed that if there's a huge event at one mall, the crowd will flock there and the other malls will end up nearly empty. At least in KL, if there's a huge event like the TCE Baby Expo at Mid Valley Megamall and a lot of ppl flock there for the discounted baby items, the other shopping malls still have their crowds.

Though on normal days, you do see a crowd in all their shopping malls.