Govt To Explore Incentives For Build Then Sell Concept Says Nga

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Local government development minister Nga Kor Ming said the ‘build-then-sell’ concept was the new way forward.KUALA LUMPUR: The government is set to discuss with the Real Estate and Housing Developers’ Association Malaysia (Rehda) on incentives for housing developers to encourage them to adopt the “build-then-sell” concept.
Local government development minister Nga Kor Ming said the “build-then-sell” concept is the best mode to put an end to sick housing projects.
“The ministry will collaborate with Rehda to provide a new option for housing developers.
“Next month, I will discuss with Rehda what incentives housing developers can get for them to adopt the ‘build-then-sell’ concept,” Nga told reporters after launching a housing expo here.
Nga said he was confident that there would be no more abandoned housing projects if the industry players adopt this new concept, as they could only sell upon completion.
“I believe this is the new way forward, but we will not rush it because I believe in a smart partnership between the private and public sectors,” he said.
In 2019, Dr Mahathir Mohamad’s administration said Putrajaya would review the “build-then-sell” scheme for property ownership that year.
Nga also said the government hoped to achieve 80% of home ownership in 2024, adding that almost RM800 million had been allocated in the recently-announced federal budget for people’s housing projects and Rumah Mesra Rakyat.
Nga said the ministry was also formulating new guidelines to improve ease of doing business to ensure sufficient and quality affordable housing for the people. - FMT

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