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- "The Ministry of Housing and Local Government is also actively holding engagement sessions for the drafting of new Acts, such as the Residential Tenancy Act and amendments, as well as improvements to existing Acts, namely the Housing Development (Control and Licensing) Act 1966 (Act 118) and the Strata Management Act 2013 (Act 757).”
PUTRAJAYA (Sept 18): The Urban Renewal Bill is expected to be tabled in the Dewan Rakyat for the second reading on Oct 6, after being postponed on Aug 27, said Housing and Local Government Minister Nga Kor Ming. (pictured)
He said this was among the matters raised through the National Affordable Housing Council meeting No.1 2025, chaired by Prime Minister Datuk Seri Anwar Ibrahim on Thursday, which, among others, discussed the drafting of a new Act and the housing ecosystem in the country.
"This Act (the Urban Renewal Bill) is important for reviving old areas in a planned and more inclusive manner, with a phased approval threshold and supporting sustainable urban development.
"The Ministry of Housing and Local Government is also actively holding engagement sessions for the drafting of new Acts, such as the Residential Tenancy Act and amendments, as well as improvements to existing Acts, namely the Housing Development (Control and Licensing) Act 1966 (Act 118) and the Strata Management Act 2013 (Act 757),” he said in a statement on Thursday.
The Urban Renewal Bill, which was tabled at the Dewan Rakyat for its first reading late last month, aims to, among others, ensure old, dilapidated and run-down housing areas can be redeveloped in a more systematic, fair and inclusive manner for the well-being of the people and sustainable urban development.
On the Rumah Mesra Rakyat (RMR) programme, Nga said the targeted number of RMR units will be increased with the cooperation of various agencies, including the private sector, government and non-governmental organisations, taking into consideration the high number of applications.
On the implementation of affordable homes under the 13th Malaysia Plan, he said that as of June 30, 98.8% or 493,874 affordable houses had been completed, with the remaining 6,126 units being targeted for completion by year end.
As for the Housing Credit Guarantee Scheme, Nga said that as of July 31, a total of 93,231 applications had been approved, with total financing guarantees of RM22.14 billion.
"Sixty-seven per cent of the recipients are housebuyers for homes priced below RM300,000, in line with the government's affordable housing agenda. The majority of the approvals were given to the bottom 40% income group, which is the scheme's main target group,” he said.
Nga also emphasised the importance of financial literacy among the target groups to increase access to financing, knowledge related to financing, and good financial management practices.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
