Rediscover

Sibu

The median sale at Sibu, Sarawak, Malaysia is RM 192,500

25%
RM 111,500
RM 38 (PSF)
MEDIAN
RM 192,500
RM 79 (PSF)
75%
RM 325,000
RM 116 (PSF)

SIBU

 

Overview

Covering a land area of 129.5 sq km, Sibu is a town in central Sarawak. It is some 191.5km from Kuching and was settled by James Brooke in 1862, at the confluence of the Igan and Rajang Rivers. Timber and shipbuilding industries are Sibu's main economic activities.

The town has its fair share of history since its establishment and migration of Foochow Chinese from China in 1901. The new populace saw the development of Sibu bazaar and the first hospital by the Brooke administration, Methodist schools and churches followed in the 1930s. The town, however, saw destruction twice in 1889 and 1928 when it was burnt down but redevelopment took place. Sibu saw the Japanese Occupation in 1941 and then in 1945, was ceded to the British as Crown Colony. Since then, Sibu saw the assassination of the second British Governor of Sarawak, Sir Duncan George Stewart by Rosli Dhobi and communist attacks, before the insurgency finally ended. Sibu became a municipality in 1981 and is now the gateway to Sarawak Corridor of Renewable Energy (SCORE) since 2008.

When the Chinese Foochow settlers arrived in Sibu, they tried making the area into a rice cultivation centre but the plan failed since the soil was not suitable for the activity. Charles Brooke, the second Rajah of Sarawak, granted land titles in a bid to encourage rubber plantations and this worked well for the Foochow settlers whose population increased in the early 1900s. However, in the 1970s, farmers had to flee their plantations as the state government declared martial law which did not allow them to help communists who were operating in the jungle during the Communist Insurgency.

In the 1940s and the 1950s, the timber industry surpassed the rubber plantation economic importance and with it, global timber companies like Ta Ann Holdings Berhad, Asia Plywood Company, the Sarawak Company, WTK, Sanyan Group and the Rimbunan Hijau Group set up headquarters in Sibu. The processing and export of timber became the main driving force for economy in Sibu and its development was supported by some of the earliest banks.

Way back in the 1930s marked the beginning of the shipbuilding business in Sibu. It started with the need to supply wooden boats for river and coastal navigation and flourished in the 1970s-1980s in tandem with exports of tropical timber from Sarawak. The business then shifted to steel boat building to cater to the demand of tug boats for towing logs, barges for log, offshore support vessels, ferries and express boats for passengers. Sibu has 40 shipyards to date and 17 were moved to the Rantau Panjang Integrated Shipyard Shipbuilding Industrial Zone in 2003. This is still in Sibu. Boats are often exported to Sabah, the peninsula, United Arab Emirates and Indonesia.

There are two industrial areas in Sibu – Upper Lanang Industrial estate and the Rantau Panjang Ship Building Industrial Zone – and two river ports – Sibu port and Sungai Merah port.

Housing landmarks of the tallest building in the state, Wisma Sanyan, and the Lanang Bridge which is one of the longest river bridges in Sarawak, Sibu Central Market is the biggest indoor market in Sarawak. Tourist attractions also include Sibu Heritage Centre, Bawang Assan long houses, Jade Dragon Temple, Sibu Night Market and the Borneo Cultural Festival.

Sibu's airport and hospital were constructed in 1994 and since SCORE was launched, the town and areas within its vicinity has seen many development projects. Despite its slow-paced lifestyle, Sibu is twin-town and sister city to 15 places in China.

Accessibility and Transportation

The town is connected to other major towns and cities in the state via the Pan Borneo Highway and the Lanang Bridge connects Sibu to Sarikei and Bintangor across the Rajang River. The Durin Bridge, near the satellite township of Sibu Jaya connects Sibu to Julau, among other places. There are two bus stations in Sibu, the local one is located near the Sibu wharf terminal while the long-distance bus station is near the Sungai Antu Region, at Pahlawan Street. Taxi services are available in Sibu around the clock.

The Sibu Airport is 25km from the town and is the second largest after the Kuching International Airport. Malaysia Airlines, AirAsia and MASWings take off and land at the airport.

Amenities and Facilities

Sibu Hospital is the teaching hospital for undergraduates from Universiti Malaysia Sarawak and is the second largest hospital in Sarawak. Besides it, there are two private medical institutions in Sibu – Rejang Medical Centre and KPJ Sibu Specialist Medical Centre. Beside 1Malaysia clinics, there are other polyclinics in Sibu and some pharmacies.

There are primary and secondary schools in Sibu as well as vernacular schools, including five Chinese independent schools. There is also the University College of Technology Sarawak and the Woodlands International School which opened in 2013. Formerly known as United College Sarawak, Kolej Laila Taib offers courses for business, accounting and engineering. Universiti Utara Malaysai in Lanang and Sibu Jaya's Universiti Putra Malaysia also offers long-distance courses while the Open University Malaysia offers its Sibu Learning Centre.

Past Transactions

Project / TownShipsTypeMedian Price PsfMedian PriceFiled Transactions
Pekan SibuSemi-Detached House,Terrace House,Detached HouseRM 50RM 160,21651 Transactions
Getah GardenSemi-Detached House,Terrace HouseRM 68RM 185,36411 Transactions
Taman Soon Hup, SibuLow-Cost House,Terrace House,Semi-Detached HouseRM 63RM 132,52311 Transactions
Pulau Li HuaSemi-Detached HouseRM 39RM 222,00010 Transactions
Wee & Wee GardenTerrace House,Semi-Detached HouseRM 50RM 190,7157 Transactions
Wong King HuoTerrace House,Semi-Detached HouseRM 67RM 159,8005 Transactions
Book Hock GardenTerrace HouseRM 105RM 192,5004 Transactions
Ulu Sungai MerahTerrace House,Semi-Detached House,Detached HouseRM 68RM 375,0004 Transactions
Ming Huo GardenTerrace HouseRM 33RM 65,7503 Transactions
Rejang ParkTerrace House,Detached HouseRM 80RM 315,0003 Transactions
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Rent and Sale Prices in Sibu

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Price per Square Foot

SectorPrice Psf (Non Landed)Price Psf (Landed)
Area AverageRM 196RM 93
State AverageRM 190RM 103