Damansara Realty proposes incentives

KUALA LUMPUR: Government consideration for incentives to raise awareness and encourage proper facilities management services arising from Malaysia's rapid urbanisation is vital, according to Damansara Realty Bhd.

Group chief executive officer Brian Iskandar Zulkarim said education was urgently needed on the importance of proper building maintenance and management to ensure a safe as well as healthy environment for the people. “There has been a huge growth in Malaysia’s building environment, and these properties, whether residential, commercial or industrial, have long lifecycles.

“We hope the Government will incentivise the education of asset owners to see the value of integrated facilities management (IFM) as a crucial business objective that will contribute towards the long-term appreciation and sustainability of their property,” he said in a statement.

Brian said without long-term strategic or integrated facilities management, asset owners would face problems with shortened lifespans and reduced asset values.

In addition, flexible schemes, incentives or tax relief should be introduced for property owners to provide facilities management as part of long-term sustainability which improves life cycle costs, he added.

The company also hoped that Bank Negara would consider easing the strict lending guideline limit for the broad property sector for developers to obtain financing for development of more affordable homes.

We hope the Government will incentivise the education of asset owners to see the value of integrated facilities management. Brian Iskandar Zulkarim