Homes must stay affordable, says Ong

 31/03/2006T he Star

PETALING JAYA: Ensuring that availability of affordable homes is not disrupted is one of three key factors the Cabinet will consider when assessing the paper on the build-then-sell concept.

Housing and Local Government Minister Datuk Seri Ong Ka Ting said the other two factors were better protection for housebuyers and guaranteeing that the growth of the housing industry would not be hampered by a lack of capital and difficulties in getting financing.

He said the Cabinet would also take note of the various views from all interested parties, especially developers who had been critical of the concept.

“We are aware of the concerns raised by developers, particularly those pertaining to capital and price,” he said.

“We need to look at how banks can continue to grant loans for housing projects, especially those in less strategic localities.”

The loan issue is critical, Ong said, because banks might not be interested in projects in such areas.

The paper will be presented to the Cabinet for consideration soon, he said after opening a women entrepreneurs' conference at a leading hotel here yesterday.

On the Ninth Malaysia Plan, Ong said it would set the direction for the country’s growth in the next five years, and urged everyone to work together to ensure the plan is successfully carried out.

“Although it has yet to be tabled, I am convinced it has a very good focus and will help move the economy forward.”