“Many developers have fulfilled the necessary requirements of advertising the Bumiputera units for sale over the required number of times for the required period, and sales to Bumiputera are still not forthcoming."

The developer also bagged the sub-awards for Best Quantitative and Qualitative attributes, the first time a single company has won all three awards, scoring a hat-trick for Gamuda Land.

Local Government Development Minister Nga Kor Ming announced on Friday that the ministry is looking to introduce incentives for the build-then-sell concept for local residential developments, as an effort to reduce Malaysia’s abandoned and sick projects.

Master Builders Association Malaysia (MBAM) and the Real Estate and Housing Developers' Association (Rehda) Malaysia have urged the government to address concerns caused by the construction materials supply chain disruption, in the aftermath of the recent lorry drivers’ strike, according to a joint statement by MBAM president Oliver HC Wee and Rehda Malaysia president Datuk NK Tong, issued on Wednesday (Oct 25).

While lauding the proposed relaxation of the Malaysia My Second Home (MM2H) rules under Budget 2024, Glomac Bhd managing director and chief executive officer (CEO) Datuk Seri Fateh Iskandar Mansor (FD Iskandar) urged the government to consider imposing the flat 4% stamp duty on Memorandum of Transfer (MOT) documents on foreign property purchasers only after there is significant uptake of units in the local market.

Putrajaya’s 4% stamp duty on foreign buyers could offset the positive impact of a relaxation of conditions for the Malaysia My Second Home (MM2H) participants.

Varied views from a number of stakeholders in the property segment

“What we are talking about is how much our urban environment inherently facilitates or hinders walking for our day-to-day activities and life.”

Real Estate and Housing Developers Association (Rehda) chairman Datuk Jeffrey Ng Tiong Lip was appointed as non-executive independent director of Capitaland Malaysia Trust with effect from Oct 1.

The Real Estate and Housing Developers’ Association (REHDA) Malaysia is hoping that Putrajaya will “reintroduce or introduce” incentives that “will allow more Malaysians to buy a house to call their own”.