25-May-2007HARI : Jumaat


Mr Ng Seing Liong
President of REDHA Malaysia

Mr Teh Boon Ghee
MAPEX 2007 Organising Chairman

REDHA National Council members

Distinguished Guests

Members of Media

Ladies and Gentlemen

I would like to thank the Real Estate and Housing Developers Association (REDHA) for the opportunity to address housing developers in Malaysia. Since the last occasion when I addressed and audience at MAPEX, some major changes have been made to the development application procedures based on a one-stop-centre model. As has been widely publicized, the Government is intent on improving the delivery system and has come up with guidelines aimed at shortening the development application processes to four to six months - four months for 10:90 Build-then-Sell projects, and six months for the conventional Sell-then-Build. Currently, the Ministry is also working very closely with INTAN to conduct intensive training for officers from local authorities and relevant federal ministries or departments to prepare them before full implementation.

Our aim is that with shortened time frames, housing will be more effectively produced and delivered to house buyers. Coupled with the implementation of the Certificate of Completion and Compliance or CCC issued by the relevant professional consultants, the goal is to move the industry to a higher level of professionalism and self-regulation. Here, I want to warn that by no means should there be any compromise on building standards. Rather, housing developers and their consultants should take these measures as an opportunity to focus on improving the quality of their products.

I understand that the housing and property sector is going through exciting times. The Government has recently provided new incentives to stimulate demand by encouraging foreign investments in the property sector such as removal of Rea; Property Gains Tax (RPGT), removal of Foreign Investment Committee (FIC) approvals for housing ownership and unlimited property loans allowed for non-residents. Based on REDHA’s feedback, it would appear that these incentives have already yielded some positive results, with reported increase in enquires, from both foreigners as well as locals, and also in sales.

I have also been informed that feedback from REDHA’s members on the perceived stumbling blocks are the flip-flops in rules which make potential foreign buyers wary of buying in Malaysia and also lack of information communicated abroad. Rest assured that the Government will give serious consideration to feedback and inputs submitted by REDHA towards the betterment of economy.

From the Ministry’s perspective, we have worked very hard with the Federal Government to restructure the procedures and processes to bring out greater efficiency in the administrative framework. However, This is only the starting point. There is still much more work to be done that requires cooperation and constructive feedback from all, to take it from what is just on paper and make it into something that really works.

Before I conclude, I would like to leave a few thoughts with you all. Property developers should take pains to ensure that their products are good quality and meet the needs of customers. Coupled with these new initiatives, those developers with good reputation and track record that offer good quality and value for money products will be rewarded by the loyalty and buying support of their customers. Good branding is based on good value delivered. Any good branding will result in good buyer support.

With this, I wish all MAPEX participants a successful outing. And to house buyers, may you be many steps closer to finding your “dream home”.

With that, I hereby officially declare MAPEX 2007 open.

Thank you.