KUALA LUMPUR, May 15 — The Real Property Development Bill for Peninsular Malaysia is expected to be tabled in parliament in 2025, said Housing and Local Government (KPKT) Minister Nga Kor Ming.
Nga, who mooted the idea of establishing the act, said with the modern trend of living in a mixed development that includes retail, commercial, soho (small office, home office) and medical facilities, it is timely for the government to look into establishing the act, which would be more comprehensive and transparent, and establish accountability.
“Since 1966, there has been the Housing Development Licensing Act, which only covers residential properties. With the new act, the interests of purchasers, developers, and landowners will be protected.
“It is not finalised and the ministry is engaging with all stakeholders on the matter.
“We at KPKT has three open policies — open door, open mind and open heart — so we are open to all new ideas and adopt a fair and balanced approach while protecting buyers’ and developers’ interests,” he said at a press conference at the TRX Residences Celebration of the Completion of Phase 1 here yesterday.
On the idea of rental options for people who can’t afford to buy homes, the minister said the government must be fair as all parties, including developers, have a role to play for the nation.
“While making profits, developers must also have a sense of corporate social responsibility. With strategic collaboration with the private sector, we hope the government will be able to provide 500,000 affordable homes by the end of the 12th Malaysia Plan,” Nga said.
— Bernama
