Implement "Build and Sell" Concept Immediately, Developers Told
Bernama 30/08/2005

KUALA LUMPUR, Aug 30 (Bernama) -- Housing developers should immediately implement the "build and sell" concept as encouraged by the government to protect housebuyers from being victimised.

Making the call today, Public Accounts Committee Chairman Datuk Shahrir Abdul Samad said the concept would definitely protect housebuyers from being deceived by developers.

"The "build and sell" concept can address the problem of developers cheating housebuyers. The PAC believes if the concept is implemented, there will be no cases of housebuyers being victimised as is the case now," he told reporters after chairing the two-day PAC meeting which ended Tuesday.

On Monday, the meeting, attended by representatives of Housing and Local Government, Bank Negara and housing developers, discussed problems in buying a house.

Shahrir said bankers attending the meeting agreed to approve housing loans under the concept, a decision he described as a "big relief" to PAC.

"If banks have agreed towards implementing the very good concept, PAC feels other parties should also cooperate to make it a success," he said.

The Backbenchers' Club Chairman said the PAC understood the housebuyers' problems who felt they have been cheated as they have to endure salary deductions whilst the houses promised to them were not completed.

-- BERNAMA