Rehda: Automatic release of bumi units helps prevent errant developers

Posted on
Share this article   

Developers who have complied with bumi quota requirements should not be punished with further requirement to do so, Tong said.

Developers who have complied with bumi quota requirements should not be punished with further requirement to do so, Tong said.

PETALING JAYA: The Real Estate and Housing Developers’ Association Malaysia (Rehda) said there should be an automatic release mechanism for bumiputera housing units as it will help prevent cases where home buyers unknowingly purchased the units from an errant developer. 

Rehda president Datuk NK Tong said an automatic release mechanism also helps maintain a vibrant housing market by correctly channelling supply to meet demand, thus preventing the accumulation of unsold inventory; relieving the developers from incurring further holding cost which could lead to house price increases as the cost get passed on, or worse still, a cashflow problem leading to late, sick or abandoned project.

Responding to the recent Selangor state government’s statement that it will blacklist developers who do not comply with the bumiputera quota requirement, Rehda said it continues to remind its members to adhere to federal and state regulations. 

 “Firstly, if developers have gone ahead to sell bumiputera quota units to non-bumiputera purchasers prior to obtaining the state consent to do so, Rehda Malaysia believes that the authorities can and should take action against these developers. We also appeal to state governments not to punish innocent homebuyers with penalties for unknowingly buying bumiputera units from such errant developers.

“Secondly, many developers have fulfilled the necessary requirements of advertising the bumiputera units for sale over the required number of times for the required period, and sales to bumiputera are still not forthcoming. In cases such as these, the developers should not be punished with further requirements to do so, and there should be an automatic release mechanism for these units to be sold to the general public,” Tong elaborated. 

Rehda hoped that any new regulation imposed on the matter of bumiputera quota requirement would be drafted, executed and monitored fairly and transparently for the benefit of the people, Tong said. 


Stay ahead of the crowd and enjoy fresh insights on real estate, property development, and lifestyle trends when you subscribe to our newsletter and follow us on social media.

Want to contribute articles to StarProperty.my? Email: editor@starproperty.my
Related News

Fresh from the news oven

14:07 PM
News & Articles
17:06 PM
News & Articles
18:06 PM
News & Articles
Latest News

Stories and news that might pique your interest

14:07 PM
News & Articles
13:07 PM
News & Articles
13:07 PM
News & Articles
10:07 AM
News & Articles
10:07 AM
News & Articles
14:07 PM
News & Articles
13:07 PM
News & Articles
13:07 PM
News & Articles
10:07 AM
News & Articles
10:07 AM
News & Articles
14:07 PM
News & Articles
13:07 PM
News & Articles
13:07 PM
News & Articles
10:07 AM
News & Articles
09:07 AM
News & Articles
14:07 PM
News & Articles
13:07 PM
News & Articles
13:07 PM
News & Articles
10:07 AM
News & Articles
09:07 AM
News & Articles
11:02 AM
Home & Living
09:08 AM
Home & Living
10:07 AM
Home & Living
12:07 PM
Home & Living
14:07 PM
Home & Living
22:06 PM
Home & Living
01:05 AM
Featured Dev
01:05 AM
Featured Dev
01:05 AM
Featured Dev
01:05 AM
Featured Dev
00:05 AM
Featured Dev
19:05 PM
Events
18:05 PM
Awards 2024
16:05 PM
Events
15:05 PM
Events
00:04 AM
Events
00:04 AM
Events
17:06 PM
News & Articles
09:04 AM
News & Articles
16:03 PM
News & Articles
10:02 AM
News & Articles
11:11 AM
News & Articles
11:09 AM
Featured
11:11 AM
Investment
16:06 PM
Investment
16:06 PM
Featured
15:06 PM
Investment
12:07 PM
潮樓產業
14:07 PM
潮樓產業
10:07 AM
潮樓產業
16:07 PM
潮樓產業
14:07 PM
潮樓產業
12:07 PM
潮樓產業