Interest of housebuyers must be firmly protected
The Star 28/09/2005

LIKE any other competitive economy and industry, developers must look for new ways and methods to maintain the housing industry and provide equitable housing for the people.

They cannot expect to locally compensate for relative loss or reduced profits at the expense of the people.

A more demanding electorate, especially within the lower and middle-income groups, definitely expects better returns and assured delivery of houses for monies invested.

The industry should no longer be an avenue for new, uncertain and self-seeking latecomer developers just because other developers had been successful in the past.

Politically, the basic concept of “build-and-sell” is not up for negotiation. The proposed 10:90 formula can be discussed.

Problems of financing can also be looked into in the case of sincere and qualified developers, but at their own risk and liability and with benevolent government intervention as appropriate and necessary. However, the interest of the buyer must be firmly protected.

The wise developer, big or small, will organise and prepare himself and still can succeed within the build-and-sell concept.

The time is now and not later. The early bird gets the worm. The far-sighted will see it now.

The proclaimed “Malaysian people-orientated government” has also to be seen in increasing substance.

DATUK SERI YUEN YUET LENG,
Ampang.
(via e-mail)