Now Time To Implement
Build-And-Sell Concept, Ong Says
Bernama 30/11/2006
KUALA LUMPUR, Nov 30 (Bernama) -- The government's decision to amend the
Housing Development (Control and Licensing) Act will encourage developers to
adopt the build-and-sell concept, said Housing and Local Government Minister
Datuk Seri Ong Ka Ting Thursday.
He said that this was because the amendment would give more protection to
the buyers including giving them the right to cancel the sale and purchase
agreement within six months after signing it.
The amendment also sought to provide heavier penalties on the developers if
the projects were delayed, he told reporters here.
Besides, he said that the developers would enjoy various facilities and
incentives when they adopted the build-and-sell concept which included that
would be given priority in getting the approvals for the building plans.
Wednesday, Ong said the Cabinet had agreed to amend the legislation to give
more protection to housebuyers as many of them had incurred losses when the
projects had stalled.
"I see the amendment as something big because it can solve many problems
affecting housebuyers," he said Thursday.
