ALOR STAR: Property developers in Kedah say they may have to close shop if the state government does not revoke its new policy of having a 50% bumiputra quota in housing schemes.
Housing Developers Association of Malaysia (Rehda) Kedah/Perlis chairman Ricque Liew said the state government should stick to the national policy where the bumiputra quota was fixed at 30%.
He said even some Malays did not want to buy bumiputra lots as they could not make much of a profit when they sold them later on.
“The value of bumiputra units do not appreciate much. Buyers often have problems reselling them as they must sell to bumiputra buyers only.
“Such a policy will only restrict the Malays from making a profit at market value,” Liew said in response to the government’s move to increase the bumiputra quota in housing schemes from 30% to 50%, effective Sept 1.
In announcing the policy, Mentri Besar Datuk Seri Azizan Abdul Razak had said that it was to compel developers to build affordable homes for all Kedahans.
State executive councillor Datuk Phahrolrazi Mohd Zawawi had said that among the policy’s main objectives was the need to check racial polarisation as racial homogeneity could be observed in some new housing schemes.
He said housing schemes should have a healthy mix of people from various religious and racial backgrounds to promote racial integration, tolerance and understanding.
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