Government To Monitor Build-Then-Sell System
11/05/2007 Bernama

KUALA LUMPUR, May 11 (Bernama) -- The government has decided to give the "build-then-sell" system a two-year trial from next month to gauge the reaction from the housing industry.

Housing and Local Government Minister Datuk Seri Ong Ka Ting said today the system would be monitored during this period to ensure its relevancy to the industry.

"We must now monitor and see the industry's reaction and eventually establish what is ultimately the best for the country," he said at the opening of a seminar on "Build-Then-Sell: The Way Forward", organised by the Institution of Surveyors Malaysia (ISM) here.

His speech was delivered by Director-General of the Town and Country Planning Department Datuk Mohamed Fadzil Mohamed Khir.

Ong said that any developer which chose to adopt this system would be offered some incentives by the government.

"For example, they will be given exemption from the RM200,000 housing developer's licence deposits and exemption from building low-cost house. Instead they must build medium-cost houses," he said.

ISM president Noushad Ali Naseem Ameer Ali said the seminar would try to obtain some sort of consensus from housebuyers, property investors, developers, real estate professionals and other professional organisations to identify the problems and issues on the "Build-Then-Sell" system and One-Stop centre.

"We need to collect opinions and recommendations from them and we hope we can forward all of it to the ministry for consideration," he said.

On April 13, Prime Minister Datuk Seri Abdullah Ahmad Badawi announced a new system to improve the delivery of the housing and development sector by implementing the One-Stop Centre for Development Applications which also includes the "Build-Then-Sell" system.

-- BERNAMA