No Discounts for Rich Bumis
6:31 PM
水兴浪 Gavin Tee
, Posted in
THE Housing and Local Government Ministry is discussing a proposal to scrap discounts for bumiputras who buy luxury property valued at RM500,000 and above.
Its minister Datuk Seri Ong Ka Chuan said the ministry was negotiating with state governments and a mutual agreement on the proposal, initiated by the Real Estate and Housing Developers’ Association (Rehda), had yet to be reached.
“We are discussing the discounts to be given to those who need the discounts and not to those who don’t deserve it,” he said in reply to Dr Mohd Puad Zarkashi (BN – Batu Pahat).
Ong said the ministry was also talking to state governments to expedite the process of releasing unsold bumiputra quota units to the open market.
He said the quota was imposed to provide a chance for bumiputras to own property and the mechanism was also set up to allow the unsold quota units to be released and sold in the open market to others if there was no demand from bumiputras.
However, the process of releasing the unsold units could take up to five years, he said, adding that this had become a burden to developers. ( November 25, 2008（The Star）
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