News & Articles Around 88,000 Bumiputera-allotted properties unsold in Johor
Around 88,000 Bumiputera-allotted properties unsold in Johor
17 May 2017
The Johor state government will come up with a solution to help property developers sell off unsold Bumiputera lots across the state, said Mentri Besar Datuk Seri Mohamed Khaled Nordin.
He said a suitable mechanism would be drawn up after developers have failed to sell about 88,000 bumiputera property lots in the state.
According to him the properties comprised bungalow houses, shophouses, factories, service apartments and others.
“The properties could not sell because the prices are too high but we will find a way to help the developers overcome the problem.”
Commenting on the predicament of poor sale of Bumiputera quota properties, especially in Johor Bahru, Mohamed Khaled said it had been established under the housing policy that developers must allocate a certain percentage of all property units that was being developed to Bumiputeras.
Meanwhile, Mohamed Khaled said some 100 Kampung Senibong residents would each be getting a two-storey terrace house in the new project area starting late next year.
He said the houses – offered at RM25,000 each instead of the actual cost of RM300,000 – were in replacement of their land, which had be taken over by a developer to make way for several residential projects there.
“This village is over 100 years old and from previous years the residents have applied for the land titles but the land had been transferred to the developer.
“The government negotiated with the developer and we came to a solution that they (residents) move to the redeveloped area.”
The first phase of the project, involving more than 50 units of houses, will start in October this year and is scheduled to be completed by late next year, while the second phase involving 40 units is scheduled for completion in 2019. Iskandar Waterfront Holdings is the developer of both projects.
He said a suitable mechanism would be drawn up after developers have failed to sell about 88,000 bumiputera property lots in the state.
According to him the properties comprised bungalow houses, shophouses, factories, service apartments and others.
“The properties could not sell because the prices are too high but we will find a way to help the developers overcome the problem.”
Commenting on the predicament of poor sale of Bumiputera quota properties, especially in Johor Bahru, Mohamed Khaled said it had been established under the housing policy that developers must allocate a certain percentage of all property units that was being developed to Bumiputeras.
Meanwhile, Mohamed Khaled said some 100 Kampung Senibong residents would each be getting a two-storey terrace house in the new project area starting late next year.
He said the houses – offered at RM25,000 each instead of the actual cost of RM300,000 – were in replacement of their land, which had be taken over by a developer to make way for several residential projects there.
“This village is over 100 years old and from previous years the residents have applied for the land titles but the land had been transferred to the developer.
“The government negotiated with the developer and we came to a solution that they (residents) move to the redeveloped area.”
The first phase of the project, involving more than 50 units of houses, will start in October this year and is scheduled to be completed by late next year, while the second phase involving 40 units is scheduled for completion in 2019. Iskandar Waterfront Holdings is the developer of both projects.
Source: The Rakyat Post
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