IPOH: The government will offer incentives to property developers who adopt the ‘build and sell’ policy, with the aim of eliminating abandoned projects by 2030.
Housing and Local Government Minister Nga Kor Ming said the details of these incentives, which will be included in the 13th Malaysia Plan (13MP), will be revealed soon.
"Under the 13MP, developers who successfully implement the ‘build and sell’ model will receive government incentives.
"This new policy will be announced after the 2026 Budget, as we have already identified proactive measures to prevent abandoned housing projects," he told reporters at the Rehda Fellowship Dinner 2025 here, on Saturday (Aug 23) night.
Also present at the event were Rehda Malaysia president Datuk Ho Hon Sang and Rehda Perak chairman Loh Ban Ho.
In his opening speech, Nga reiterated the ministry’s commitment to tabling the Urban Renewal Bill for its second and third readings in Parliament, emphasising its importance to public welfare.
He described the Bill as a crucial step to safeguard the well-being of the people and revitalise Malaysia’s decaying urban areas, ensuring no one is left behind in unsafe or deteriorating housing.
"Urban renewal is not about convenience, it is a national priority to improve well-being and promote sustainable urbanisation. We cannot allow our cities to decay while thousands of families continue living in unsafe, ageing homes,” Nga said.
He also highlighted the positive impacts of urban renewal projects, citing examples like Razak Mansion and Residensi Kerinchi, which have seen increased property values and improved living conditions for residents.
Nga explained that the Bill will be supported by mediation committees at both federal and state levels to ensure fair outcomes, with ongoing government oversight to ensure a win-win situation for all involved.
"We have conducted over 105 engagement sessions with stakeholders from federal and state levels, as well as academic experts, industry representatives, and resident associations," he added.
Nga called on Members of Parliament to support the Bill in its upcoming readings, emphasising that leadership requires bold decisions that prioritise national interests and public welfare. - Bernama
