NS REDHA wants mechanism to manage unsold Bumiputera properties
SEREMBAN: The Negeri Sembilan Real Estate and Housing Developers Association Malaysia (NS REHDA) wants the government to introduce a mechanism to manage unsold Bumiputera quota properties.
NS Redha State chairman Jenny Wang Lee Peng said price and location were the main factors that resulted in unsuccessful sale of these properties.
“In areas such as Rahang and Temiang in Negeri Sembilan, Bumiputera properties are hard to sell and developers must bear the holding cost which is a burden on them.
“Developers must reserve a certain number of houses for Bumiputera purchase as it is mandatory under the law but many of these units are not sold.
“I hope the government can make an exemption and allow these units to be purchased by nonBumiputeras,” she told reporters yesterday on the upcoming Bumiputera Malaysia Property Expo (Bumi Mapex) to be held on March 18.
Wang said 1,117 properties, worth RM916.8 million, in Seremban, Seremban 2, Senawang, Paroi, Rahang, Rasah and Port Dickson, would be on sale at the two-day Bumi Mapex.
“A total of 13 developers and financial institutions will participate in the expo.
“Properties on sale include single, double and triplestorey terrace houses; single and double storey semi-detached houses; bungalows, shoplots, offices; commercial strata title properties; apartment and industrial units in the price range of RM282,888 and RM3.8 million,” she said.
Wang said the expo’s aim was to help more Bumiputeras own properties in the state and to help developers to dispose properties meant for Bumiputera buyers.
“Developers taking part in the expo will also offer attractive packages to potential buyers.
“Among the packages offered are exemption from paying legal fees, cash rebates, gold give aways of up to 100 grammes and special incentives for government staff.
“NS Rehda will also give out Touch & Go cards worth RM110 to successful buyers,” she said.
Among developers who will participate in the expo include Matrix Concepts Holdings Bhd, Seri Pajam Development Sdn Bhd, Park Properties Sdn Bhd and RB Land Sdn Bhd.