By Farah Wahida:
Property developers should not only pursue high profits, but also build affordable housing, urged Housing and Local Government Minister Datuk Seri Chor Chee Heung.
“It is equally important to build more affordable homes so that people in the lower bracket (incomes) will get to buy houses,” he told the media after unveiling O2 Residence project near Seri Kembangan in Serdang.
He was accompanied by Puan Sri Datin Alice Su Bee Leng, CEO of O2’s developer Perfect Eagle Development (PED) and Director Tan Sri Datuk Koo Yuen Kim.
O2 Residence is a low-density serviced residence with unit prices ranging from RM440 psf to RM550 psf. Spanning 13.5 acres, it has a Gross Development Value of about RM450 million and is the first phase of the O2 City project in Bandar Puchong South Township.
Notable features include rainwater harvesting, an “organic layout”, solar panels as well as natural lighting and ventilation. On the other hand, O2 City will also comprise an office tower, a service suite and five-star hotel.
Meanwhile, the Housing and Local Government Ministry is also looking at ways to encourage developers to participate in Malaysia’s Green Building Index (GBI), said Chor.
Builders need to incorporate eco-friendly features into their projects so that buyers would be able to enjoy better and healthier lifestyles, he explained, noting that while the GBI certification is not mandatory, conforming projects are very much in demand.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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