KUALA LUMPUR, Dec 30 — The Ministry of Local Government Development (KPKT) will create a task force to find a solution to 381 private housing projects that are categorised as ‘sick’ or problematic in order to protect the rights and interests of home buyers.
Its minister Nga Kor Ming said his ministry views seriously those housing projects deemed ‘sick’ or abandoned as the housing development sector plays an important role in the national economy and involves almost 200 industries.
“According to KPKT statistics, in order to fulfill the desire of Malaysians to own their own home, KPKT will build a total of 83,728 houses under the 12th Malaysia Plan, of which 22,209 houses have been completed, 47,637 units are under construction and the remaining 13,882 units will be completed by the end of 2025.
“Moving forward, especially in construction and urban planning, KPKT will focus on the Sustainable Development Goals (SDG) put forward by the United Nations,” he said in a statement today.
Nga also said that he hopes the private sector will actively cooperate with the government to build more green spaces and use environmentally friendly approaches towards design and construction in order to create more habitable housing with a sustainable concept.
In addition, Nga said the unity government is also supporting initiatives to help more young people own their first home through a 100 per cent stamp duty exemption incentive for houses priced at RM500,000 and below, while houses priced at RM500,001 up to RM1 million will enjoy stamp duty exemptions by 50 per cent.
“Since the political situation of our country has stabilised after the 15th general election, foreign investors have confidence in the unity government and I am optimistic about the national housing industry market next year.”
“I hope that entrepreneurs can increase domestic investment and that the unity government will cooperate actively by launching ‘pro-business’ and ‘pro-people’ policies. Let us work together to fight for the national economy and save people’s lives,” he said.
Nga has also invited the Singapore Housing Development Board (HDB) to share its expertise and experience.
“I believe this will help improve the level of urban planning in Malaysia and not only help more people own their own home, but also create happy and prosperous households through innovative methods,” he said.