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Build then Sell (BTS)
Page 07

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Pemaju konsep bina jual rumah diberi insentif
21/01/2008 Berita Harian Oleh Rosli Abdul Jalil
KUANTAN: Kerajaan Pahang memberi insentif bagi menarik lebih banyak pemaju di negeri ini melaksanakan konsep `bina dan jual' bagi projek perumahan baru.

The 10:90 trial goes on
25/03/08 NST-PROP By Zuhaila Sedek
House buyers anxious to know the fate of the 10:90 variant of the Build-Then-Sell (BTS) system will have to hold their breaths for a bit longer.

Pendekatan konsep ‘bina dan jual’ lebih adil
06/04/2008 Berita Harian
GABUNGAN Persekutuan Pengguna Malaysia (Fomca) tetap dengan pendirian mereka mahu kerajaan meminda Akta Pemaju Perumahan dengan mewajibkan semua pemaju melaksanakan konsep ‘bina dan jual’ bagi menangani masalah projek terbengkalai yang mendatangkan masalah kepada pembeli selama ini.

‘Build first, sell later’ developers to get perks
22/05/2008 The Star
DEVELOPERS who wish to take up the “build first, sell later” concept will enjoy certain incentives from the Government, said Housing and Local Government Minister Datuk Seri Ong Ka Chuan. He said these developers might be exempted from having to pay deposit for their projects when applying for licences.

Is it time for BTS?
12/07/2008  NST By Andrew Wong
IF advocates of the Build-Then-Sell, or BTS, movement ever need another reason to push their method of housing delivery into the mainstream, they only have to look at what's happening in this current cost-push environment. At the rate building material and transport costs are rising, I daresay many developers who have long opposed them, preferring to embrace the Sell-Then-Build or STB system instead as it permits them to collect money upfront before completing their end of the bargain, are beginning to buckle.

Timely move for `BTS 10:90 concept'
12/07/2008 NST
SELANGOR Menteri Besar Tan Sri Khalid Ibrahim's announcement that the state will take the lead in adopting the Build-Then-Sell (BTS) concept for delivery of houses is a timely piece of good news for house buyers. I believe the BTS he was referring to is the variant of the Sell-Thenbuild (STB) version the National House Buyers Association (HBA) termed as the "10:90 concept". It is a hybrid of the present Sell-Then-Build (progressive payment mode) and the absolute BTS (sell only upon full completion of houses). House buyers pay only a 10 per cent deposit upon signing the Sale and Purchase Agreement and the remaining 90 per cent is payable upon completion of the houses with electricity and water supply (ready for tapping) and Certificate of Fitness for Occupation (CFO), or the new version Certificate of Compliance and Completion (CCC), and possession with keys.

Build-and-sell concept deferred, says Ka Chuan
01/09/2008 The Star
SEREMBAN: The Government has deferred the build-and-sell concept, said Housing and Local Government Minister Datuk Seri Ong Ka Chuan. “Developers are finding it difficult to secure loans from banks for their projects because banks feel the risks are greater,” he said.

Build-and-sell concept not deferred
11/09/2008 The Star By Ng Cheng Yee
PETALING JAYA: The build-and-sell concept for houses is not deferred. Despite earlier newspaper reports saying it had been deferred, Housing and Local Government Minister Datuk Seri Ong Ka Chuan clarified the concept is running parallel with the existing system.

Build-and-sell concept delayed by economic downturn
19/01/2009 The Star By Christina Tan
KLANG: The build-and-sell concept will not take off in full swing due the current global economy meltdown, said Housing and Local Government Minister Datuk Seri Ong Ka Chuan.

Don't shelve 10:90
We refer to news articles on Jan 20 quoting Minister of Housing and Local Government Datuk Seri Ong Ka Chuan as saying the build-then-sell (BTS) concept will not take off in full swing due to the global economic meltdown. First, 10:90 is NOT a BTS system under which houses are completely built and with full certifications before the developers sell them. Under our 10:90 variant, developers can commit sales when all approvals have been acquired, even before they start construction work. Buyers pay 10 per cent upon signing the Sale and Purchase Agreement (SPA) and make no further payment until the houses are fully completed when they pay the remaining 90 per cent and complete the transaction.

Adopt system to safeguard housebuyers
28/02/2009 The Star
WE read with despair the report entitled “Buyers left in a lurch by abandoned project” in StarMetro dated Feb 19. Many unwary and unfortunate buyers are suffering such a fate with no one to turn to.

HOUSING PROJECTS: Build-then-sell is the best way to go
13/03/2009 NST By : CHANG KIM LOONG for National Housebuyers Association, Kuala Lumpur
I REFER to the letter on abandoned housing projects from S.K. ("Govt should keep track of such projects" -- NST, March 10). The problem of abandoned housing projects that leave a trail of havoc in their wake is brought about by Malaysia's system of buying and selling houses, called the sell-then-build (STB) system.In this system, buyers make progressive payments as the developers build the houses. If all goes well, the buyers eventually get their houses. But if the developers are unable to complete the houses, the buyers are the first to suffer: no house to take over; bank loans to service; and worse, no solution in sight.

HOUSING PROJECTS: Ministry must take a clear stand
18/03/2009 NST By : S.K. , Kuala Lumpur
I REFER to Chang Kim Loong's advice to house buyers in his letters "Check the fine print first" (NST, March 11) and "Build-then-sell is the best way to go" (NST, March 13). I commend and thank Chang and his team at the National House Buyers Association (HBA) for their efforts to not only educate the public on property purchases but also to curb rampant losses in the housing sector by spearheading the introduction of safeguards for purchasers.

HOUSE PURCHASE: Just scrap the old system altogether
24/03/2009 NST By : CHANG KIM LOONG for National House Buyers Association, Kuala Lumpur
The disadvantages of the sell-then-build system are obvious to all. I REFER to the letter "Ministry must take a clear stand," (NST, March 18) from S.K. of Kuala Lumpur. I thank S.K. for the kind words in his letter. It is sentiments like these that give our volunteers at the National House Buyers' Association the strength and courage to keep going, despite all odds. I wish to express our sympathy to S.K. for the predicament he is in. The fact that there are hundreds of thousands of other house buyers suffering the same fate is of no consolation to him at all. They are all victims of a flawed system that had been allowed to operate for the past few decades.

House buyers, take note of differences in systems
08/04/2009 The Star
WE at the HBA view with interest some housing project advertisements in the newspapers recently. They prominently state 10-90 as the mode of payment and went on to say, “Pay 10% and no payment until vacant possession.”


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