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Built-and-sell concept to be fine tuned further

KUALA LUMPUR, 11 Sept 2008: The build-and-sell concept for housing projects in the country will be fine-tuned further to encourage greater participation from developers.

Housing and Local Government Minister Datuk Seri Ong Ka Chuan said the concept, which has been implemented since last year, had received a lukewarm response from developers and the government was taking the necessary measures to improve it.

He said there were "loopholes" in the concept that need to be patched especially involving laws and financial institutions.

"The build-and-sell concept is still on and not being deferred as reported before this. But at the same time, we are looking on how to improve it through feedback from the developers," he told a news conference after witnessing the launching of IJM Land Bhd’s new corporate identity here today.

Under concept two options are available – in one, buyers only need to pay 10% first and settle the rest upon completion of the house; or two, buy fully completed units.

Such a concept, which has been practiced in countries like Australia and Singapore, was initially introduced here as a mechanism to prevent the problem of abandoned housing projects

On another note, Ong, who is also MCA secretary-general, said that MCA would publish all its 2,188 central delegates names in its website soon.

"However, we will not be able to give their contact details as it is confidential," he said when asked to comment on a call yesterday by Datuk Chua Jui Meng that election candidates should be given free access to the delegates’ contact details in order for them to campaign. Chua is vying for the president’s post. – Bernama

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