Malacca developers can dispose of bumi lots

Malacca developers can dispose of bumi lots

MALACCA - The Malacca government has eased its ruling on bumiputra housing lots, allowing developers to dispose of unsold units to non-bumiputras under a new policy to encourage property sales.

Chief Minister Datuk Seri Idris Haron did not specify the time frame that a unit would have to remain unsold, before it could be opened up for other buyers.

He said developers must designate a number of units as bumiputra lots in other areas to "replace" those units that had been sold to non-bumiputras. The policy, he said, came into effect on Thursday and that some 100 units of bumiputra lots in Paya Rumput would be offered to non-bumiputras.

The Malacca chapter of the Real Estate and Housing Developers' Association has been lobbying to find a mechanism for releasing unsold bumiputra units.

Idris also said that the state government had set aside a land bank of 3.32ha in Batu Berendam to be developed by SPNB as Malacca Vision Homes with designs approved by the state government, priced at less than RM150,000 (S$59,000) and with a build-up area of a minimum 923sq m.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.