Incentives For Developers To End Abandoned Projects By 2030

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Housing and local government minister Nga Kor Ming says developers who successfully implement the 'build and sell' approach will receive government incentives under the 13MP.
Housing and local government minister Nga Kor Ming said the incentives, aimed at eliminating abandoned housing projects in five years, will be announced after the tabling of the 2026 budget. (Bernama pic)IPOH: The government will offer incentives to property developers who adopt the “build and sell” model as part of efforts to eliminate abandoned housing projects by 2030
Housing and local government minister Nga Kor Ming said the incentives will be detailed under the 13th Malaysia Plan (13MP).
“Developers who successfully implement the ‘build and sell’ approach will receive government incentives. The new policy will be announced after the (tabling of the) 2026 budget,” he told reporters at a Real Estate and Housing Developers’ Association (Rehda) dinner here last night.
Nga also reaffirmed the ministry’s plan to table the Urban Renewal Bill for its second and third readings in Parliament, calling it essential to public welfare.
He said the bill would protect residents from unsafe and ageing housing while revitalising decaying urban areas.
“Urban renewal is not about convenience. It is a national priority to improve well-being and ensure sustainable urbanisation,” he said, citing past urban renewal projects such as Razak Mansion and Residensi Kerinchi, which improved living conditions and boosted property values.
The bill will be supported by mediation committees at federal and state levels to ensure fair outcomes, with continued government oversight.
He said the ministry has held more than 105 engagement sessions with stakeholders, including state governments, industry players, academics and resident associations. - FMT

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