Developers to contribute to SPNB for affordable homes
The Sun 29/10/2003
KUALA LUMPUR: Property developers required to contribute RM3,400 for
every house they build in Kuala Lumpur to Syarikat Perumahan Negara
Bhd (SPNB) if they do not want to build low- and medium-cost houses,
a property developer says.
However, the government has yet to decide on the quantum to be paid
for projects outside Kuala Lumpur.
SPNB will use the funds collected to build these affordable houses.
Sunrise Bhd chief executive officer Datuk Michael Yam said
developers would have to contribute if they choose not to build the
afford able houses themselves and leave it to SPNB.
Speaking to reporters after the group's AGM and EGM yesterday he
said the government had informed property developers undertaking
projects in Kuala Lumpur on the amount they had to contribute for
this purpose.
Yam said the government had also not made a decision on when the
developers would have to pay their contribution.
"If developers have to make upfront payment (at the start of a
project) it will burden us financial" he added.
In Budget 2004, it was announced that SPNB would build 12,000
afford- able residential units on a 400haland owned by Rubber.
Research Institute of Malaysia in Sungai Buloh.
In the past, developers were required to allocate 30 % of their
projects for low- and medium-cost houses. Now, they have the choice
of letting SPNB undertake the construction, on condition that they
make a contribution. |
