Ban on building high-rise units of over RM1mil, offices and malls stays

Conference launched: (from left) Mier director Prof Emeritus Zakariah Abdul Rashid, Johari, board of trustees members Tan Sri Prof Emeritus Anuwar Ali and Datuk Hamzah Bakar at the launch of the National Economic Outlook conference.

KUALA LUMPUR: Second Finance Minister Datuk Seri Johari Abdul Ghani has reaffirmed the freeze on the development of future high-rise luxury residential projects with units costing more than RM1mil.

He said that effective Nov 1, high-rise luxury residential projects with units costing above RM1mil, offices and shopping malls would not be approved and it was a ruling applicable to the entire country.