News & Articles Sultan Admonishes Developers Preoccupied With Building Expensive Houses
Sultan Admonishes Developers Preoccupied With Building Expensive Houses
11 Jan 2016
The Sultan of Perak, Sultan Nazrin Shah today censured property developers seen as more interested in building expensive houses to reap huge profits.
He said the saying 'houses you can look but cannot afford' was being increasingly voiced by the people in the lower-income group especially among Malays and Bumiputeras.
Houses completed are being priced beyond the means of the majority of local residents.
"These developers appeared to be more interested in constructing expensive houses to be sold to non-citizens and actively carried out sales promotion among the rich abroad," he said when declaring the Muallim District here.
The Muallim District is the latest and 11th administrative district in Perak.
Sultan Nazrin said the issue of housing is an important one which required the attention of the government and developers.
He said the country should be careful to focus on its long-term interests to avoid colonisation through the instrument of property ownership.
"The interest of business should not reach a level which result in the citizens losing their rights in their homeland," he said.
He said the saying 'houses you can look but cannot afford' was being increasingly voiced by the people in the lower-income group especially among Malays and Bumiputeras.
Houses completed are being priced beyond the means of the majority of local residents.
"These developers appeared to be more interested in constructing expensive houses to be sold to non-citizens and actively carried out sales promotion among the rich abroad," he said when declaring the Muallim District here.
The Muallim District is the latest and 11th administrative district in Perak.
Sultan Nazrin said the issue of housing is an important one which required the attention of the government and developers.
He said the country should be careful to focus on its long-term interests to avoid colonisation through the instrument of property ownership.
"The interest of business should not reach a level which result in the citizens losing their rights in their homeland," he said.
Source: Bernama.com