Mah Sing supports move to set up a regulatory body for property sector

KUALA LUMPUR: Property developer Mah Sing Bhd is supportive of the government’s move to set up a regulatory body to look into developers who build affordable homes.

“We are definitely supportive of this because there is so far no benchmark to ascertain the prices range for affordable homes.

“However, prices of homes are determined by the location, apart from people’s income and cost structure of homes to be built,” executive director Datuk Steven Ng Poh Seng told reporters after a large track presentation at Invest Malaysia 2017 this afternoon.

Yesterday, Second Finance Minister Datuk Seri Johari Abdul Ghani said the government was looking to establish a single regulatory body to regulate the property sector.

Abdul Ghani said that the issue of residential house prices being a unaffordable is due to this.