Govt to review build-then-sell scheme: Dr M

BANTING (May 2): Prime Minister Tun Dr Mahathir Mohamad said today that the government will review the build-then-sell (BTS) scheme for property ownership this year, reported Free Malaysia Today (FMT).

He added that such a move is expected “to reduce property oversupply and mitigate the risk to property owners”.

Dr Mahathir was speaking to the media at the opening of the Gamuda Industrialised Building System (IBS) factory here today.

The prime minister also said that the National Housing Policy “has been implemented in a fragmented way by federal, state and local governments or agencies”.

He said the “dependence on the private sector had led to constraints in supply and demand due to poor locations, affordability levels, and the need to manage profit against meeting the needs of the people”.

Dr Mahathir has also called on state authorities and the federal government “to collaborate and unlock land at more strategic locations”.