Second Finance Minister Datuk Seri Johari Abdul Ghani, giving his speech

PETALING JAYA: Property developers are suggested to form strategic collaborations with financial institutions to overcome loan rejection issues for eligible buyers, said the Second Finance Minister Datuk Seri Johari Abdul Ghani.

Criticising some property developers who aim to make a quick buck in the property industry, he said these developers are in lack of a long-term planning and congested the market with their projects, making it inconvenient for the dedicated developers.

He said the government has aimed to push out these property developers from the market through the recent freezing of luxury property developments with units above RM1mil.

In addition, Johari also called out to the government to establish a single authoritative body to maintain a central database containing all the timely and correct information as it would greatly benefit the Malaysians.

He made the speech on the Real Estate & Housing Developers' Association Malaysia (Rehda)’s Annual Dinner held recently.

The night was filled with music, food and good vibes.