The government of Kedah plans to release RM400 million worth of Bumiputera property lots that remain unsold for the last 10 years, reported Bernama.
This involved around 1,000 shophouses, houses and industrial buildings built before 2017, said State Industry and Investment, Local Government and Housing Committee Chairman Tan Kok Yew.
The proposed release will only be granted to freehold properties, he noted that between 30 percent and 50 percent of said properties are usually set aside for Bumiputera buyers.
However, once the release is granted, everyone – whether Bumiputeras or not – can acquire these properties, he said following the opening of the Kedah Malaysian Property Expo (Mapex).
“But a levy will be made payable for the release. This will be channelled to the ‘dream house trust fund’ which will only be used to help the less fortunate people own a house.”
Rick Cheng Wooi Seong, Chairman of the Kedah/Perlis Real Estate and Housing Developers’ Association, revealed that the districts with the most number of unsold Bumiputera lots were Kubang Pasu, Kuala Muda and Kota Setar.
Image sourced from Sinar Harian
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email editorialteam@propertyguru.com.my
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