Don’t bite off more than you can chew

An General view of Kuala Lumpur commercial buildings as haze clears in Kuala Lumpur on 28 June 2013 AZHAR MAHFOF/The Star.

THERE had been suggestions by the Housing Minister to also regulate commercial property development projects via the Housing and Local Government Ministry in addition to its current task of regulating residential property development projects.

A focus group was set up to discuss, obtain feedback and draft the proposed “Commercial Development Act” (‘CDAct’). The group comprised stakeholders across the property sector. Government agencies, regulatory bodies, academicians, trade organisations, local councils, private and government-linked companies (GLCs) property developers, professional bodies and the National House Buyers Association (HBA) and VICTIMS (Association of Abandoned Property Owners, Malaysia) had convened on Feb 12 in Putrajaya with regard to the proposed Act.