IPOH: The government will offer incentives to property developers who adopt the “build and sell” model, with the aim of eliminating abandoned projects by 2030.
Housing and Local Government Minister Nga Kor Ming said details of these incentives, which will be included in the 13th Malaysia Plan (13MP), would be revealed soon.
“Under the 13MP, developers who successfully implement the ‘build and sell’ model will receive government incentives.
“This new policy will be announced after the 2026 Budget, as we have identified proactive measures to prevent abandoned housing projects,” he said at the Real Estate and Housing Developers’ Association (Rehda) Fellowship Dinner 2025 here on Saturday night.
Also present were Rehda president Datuk Ho Hon Sang and Redha Perak chairman Loh Ban Ho.
In his opening speech, Nga reiterated the ministry’s commitment to tabling the Urban Renewal Bill for its second and third readings in Parliament.
He described the bill as a crucial step to safeguard the well-being of the people and revitalise Malaysia’s decaying urban areas.
“Urban renewal is not about convenience — it is a national priority to improve well-being and ensure sustainable urbanisation.
“We cannot allow our cities to decay while thousands of families continue living in unsafe, ageing homes,” Nga added.
He also highlighted the positive impacts of urban renewal projects, citing examples like Razak Mansion and Residensi Kerinchi, which had seen increased property values and improved living conditions for residents.
Nga said the bill would be supported by mediation committees at both federal and state levels to ensure fair outcomes, with ongoing government oversight to ensure a win-win situation for all involved.
“We have conducted over 105 engagement sessions with stakeholders, including state governments, academic experts, industry representatives and resident associations.”
He called on members of parliament to support the bill in its upcoming readings. Bernama
© New Straits Times Press (M) Bhd
