Pledge to drop outdated rules
NST-PROP 24/9/2005 By G. Umakanthan

Policies, rules and regulations governing the housing industry that are duplicative, outdated and unnecessary will be done away with, said Housing and Local Government Minister Datuk Seri Ong Ka Ting.

The ministry, he said in his message to mark the second National Malaysian Property Exhibition of the year (Mapex 2005), is committed to making positive changes to ensure the industry remains relevant in the mainstream economy.

One of these moves is likely to be a push for developers to adopt the build-then-sell concept of housing supply.

Ong told reporters after launching a home loan product mid-week that the ministry was finalising a proposal on the concept for the cabinet to consider.

Organised by the Real Estate and Housing Developers’ Association (Rehda), the exhibition opened at the Mid Valley Exhibition Centre at Mid Valley Megamall in Kuala Lumpur on Thursday and ends tomorrow.

Ong said current economic conditions remain very positive for the purchase of property with the low-interest rate environment offering good opportunities for value appreciation.

Continued improvements in the standard and quality of houses, is one of the reasons the residential sector “has performed so robustly in 2004 and it looks set to lead the sector again in 2005,” said Ong.

He added: “Right now, the industry is going through tremendous change”, due to local as well as global forces.

“To have sustainable growth in the sector, all stakeholders will have to be responsive and responsible for their actions. This includes developers, buyers, financiers, consultants, professionals and even the Government,” he said.

Mapex, organised around the country by Rehda and its branch offices, is an event that showcases residential and commercial properties to the public.

A total of 84 developers as well as several banks and Government agencies are taking part in the national-level Mapex 2005, Rehda’s last exhibition for the year.

In all, more than 19,000 houses of various types, from low-cost apartments to high-end bungalows as well as shoplots with a total value of more than RM6 billion are being offered.

Developers are also offering a number of incentives, including discounts, low downpayments, Sale and Purchase Agreement fee waivers and even free grilles and air-conditioners.

Among those taking part are Kemuning Greenhills developer AMJ Construction Sdn Bhd, Green Valley Park builder APL Hotel Sdn Bhd, Bolton Bhd (Taman Tasik Prima), IOI Properties Bhd (Bandar Puteri Klang and Bandar Puteri Puchong), MRCB Utama Sdn Bhd (Kajang Utama), Sime UEP Development Sdn Bhd (Putra Heights) and UDA Holdings Bhd (Bandar Tun Hussein Onn).