Ministry may extend construction time if project unsold

Rehda president Datuk Seri FD Iskandar (pic) said many genuine housebuyers had problems coming up with their downpayment when financial institutions only offered financing of up to 80%.. (Real Estate and Housing Developers

PETALING JAYA: The Real Estate and Housing Developers’ Association’s (Rehda) request to extend construction time from the current 36 to 48 months can be considered if the project is yet to be sold, the Urban Wellbeing, Housing and Local Government Minister said.

Tan Sri Noh Omar said however, “if the developer has already started selling the units, it is not possible to ask for the extension because the sale and purchase agreement has already been formalised”.