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Wednesday, May 23, 2012

Rehda eyes RM10b 'green allocation'

The Real Estate and Housing Developers' Association Malaysia (Rehda) is lobbying for a RM10 billion annual allocation from the government to help upgrade existing buildings to be energy efficient.

The association wants this to be in the 2013 Budget.

Rehda president Datuk Seri Michael Yam said the fund would cover up to 30 per cent of the costs to make the buildings green.

With this in mind, the association is also asking the government to recognise other international green certifications like Singapore's Green Mark, Australia's Green Star, UK's BREEAM and the United States' LEED.

This was to enable those buildings already certified with those certifications to qualify for incentives provided by the government, Yam said.

Among other incentives that Rehda is seeking are stamp duty waiver for transfer of green certified properties from developers to buyers for the next five years, and double tax deduction on training expenses incurred by property development firms.

Yam said this yesterday at the launch of "Green Tour KL 2", a showcase of prestigious green rated developments in the Klang Valley.

Green Tour KL 2 is organised by Rehda Youth. It was officiated by Datuk Loo Took Gee, the secretary-general for the Energy, Green Technology and Water Ministry.

Yam said the building sector, at present, contributed about 40 per cent of the global greenhouse gas emissions but added that it could be reduced as green buildings had lower carbon emissions.

Currently, less than 0.5 per cent of all commercial and residential buildings in Kuala Lumpur were green certified, Yam said.

During Green Tour KL 2, projects showcased were the new Rehda headquarters in Kelana Jaya; KEN Rimba, Legian Residences, a project by KEN Holdings Bhd in Shah Alam; 11 Mont Kiara by Sunrise Bhd, a unit of UEM Land Holdings Bhd; Sime Darby Idea House in Shah Alam; and S11 House here.

By Business Times

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