CITY Hall is set to start giving discounts on development charges to spur economic activity.
Kuala Lumpur mayor Datuk Mohd Amin Nordin Abd Aziz said it was a new incentive for developers to continue developing the city despite the slow economy.
“The falling ringgit is a good time to buy properties. So, we at City Hall will also give fast approval for development orders,” he said at the launch of Property Insight Guide To Investing 2015/2016 coffee table book in Kuala Lumpur last week.
When contacted, DBKL Planning deputy director-general Datuk Mohd Najib Mohd said the quantum of the discount had not been decided.
“The mayor has given the principal approval and we will take about a week to study and decide on the amount,” he said.
Real Estate and Housing Developers Association Malaysia (Rehda) Kuala Lumpur chairman Tan Ching Meng said the association appreciated any help during the current economic climate.
“Times are tough. We are in the industry that creates job opportunities. So, if we continue to develop, it will be good for the people too,” he said.
Property Insight managing director KK Chua said their first coffee table book featured analysis of 45 projects in the country.
“What sets us apart from other property guides is our analysis. Other books merely have editorial write-ups.
“Besides that, we have also dedicated six pages for tips on securing property financing as it is the biggest challenge faced by investors.
Chua said they started working on the book in January and many of the projects featured in it had been completed or were nearing completion
“About 30% of the featured properties are still available,” he said.
Property Insight Guide to Investing 2015/2016 is available at major bookstores nationwide at RM45 per copy.
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