Rolling Capital Concept To Address Housing Woes In NS - MB
Bernama 23/10/2005

SEREMBAN, Oct 23 (Bernama) -- In a move to overcome abandoned housing schemes in Negeri Sembilan, the state government will introduce the "rolling capital" concept to build low-and medium-cost houses.

Menteri Besar Datuk Seri Mohamad Hasan said a pilot project under the concept has been implemented in a housing scheme in Bagan Pinang, Port Dickson.

Previously, most of the housing projects were carried out on a joint venture basis between the state government and developers, he said.

Under the rolling capital concept, he said, the state government would provide land for developers to build houses.

"After the houses are completed, the developer will pay the land price to the state government before selling the houses to the public," he told reporters after giving alms to mosques and suraus in Rantau, near here.

Mohamad said the land price money would be used by the state government to buy land in other areas to build low-and medium-cost houses.

Developers would also be required to apportion a fixed number of houses to the state government under the concept, he added.

-- BERNAMA