Rehda: Fix a timeframe
PENANG: Housing developers have appealed to the state to keep the policy of
allowing unsold bumiputra units to be sold non-bumiputras after six months.
National Real Estate and Housing Developers Association (Rehda)
vice-president Datuk Eddy Choong said developers already faced problems with
the state’s releasing mechanism for unsold bumiputra units.
Choong was commenting on the 30% quota in housing in the Draft Penang
Structure Plan (2005-2020) report. The quota is also included in business
premises, industries and tou-rism.
Under the report, the 30% quota would be maintained until they were bought
Under the present system, bumiputra units which are unsold after six months
can be released to non-bumiputras after the property has been advertised for
sale three times.
“However, there are cases where it takes almost a year or longer before the
units can be released,” he said.
He said if the quota under the draft structure plan report were to be
implemented, a timeframe had to be fixed for developers to release the
unsold bumiputra units to non-bumiputra buyers.
“Now, we face a situation where there are not enough bumiputras here to make
the scheme a success.
“If the developers were forced to wait for an unspecified period of time,
some developers will just have to close shop,” Choong said.
Federation of Malaysian Manufacturers northern branch chairman Datuk O.K.
Lee said new industries which could not comply with the quota would simply
“There’s no point in implementing the quota if there is not enough capacity
to own, retain and grow.
“If there’s a lot of uncertainties, the move could drive investors away,”