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Wednesday, May 6, 2009

Developers in Negri Sembilan get lifeline

The Negri Sembilan government will be reviewing its bumiputera housing quota policy to assist developers sell unsold bumiputera housing units and shoplots.

Negri Sembilan Menteri Besar Datuk Seri Mohamad Hasan said the review would be restricted to a "one-time" offer and was aimed at helping housing developers survive the economic recession.

"The Real Estate and Housing Developers' Association (Rehda) had a discussion with us on this. One of the resolutions discussed was allowing them to sell housing units and shoplots reserved for bumiputeras to non-bumiputeras," he told reporters after the weekly state executive council meeting today.

However, he said it was conditional that houses and shoplots meant for non-bumiputeras must be sold off first.

The current policy requires housing developers to allocate 30 per cent of units built to be sold to bumiputeras at a discounted rate.

By Bernama

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