Ministry to review bumiputra quota for housing projects

October 8, 2018 | By | Reply More

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KUALA LUMPUR: The Housing and Local Government Ministry will study the bumiputra quota for housing projects and its release mechanism as housing developers have long lamented the burden of unsold bumiputra units.

Housing and Local Government Minister Zuraida Kamaruddin understood that some states even have a bumiputra quota as high as 70%. Currently, different states impose different bumiputra quotas (between 30% and 70%) for housing projects.

“I can understand what they (housing developers) are talking about but I have to get the figures and study the trend before I can come out with the policy on that,” she told a press conference after an industry-government open dialogue hosted by the Asian Strategy & Leadership Institute (Asli) here today.

Housing developers are appealing that by the time the certificate of completion and compliance is given, whatever unsold bumiputra units must be released into the market. Any unsold bumiputra unit is a cost to the developer, who needs to pay interest to the bank, adding on to total costs, not to mention the absence of interest from bumiputras due to various reasons.

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