Developers hope for incentives to build low-cost houses in new budget

KUALA LUMPUR: Developers should be given incentives to build low-cost houses in the upcoming Budget 2011 to cater to the demand.

In making the call, Hua Yang Bhd's chief operating officer Ho Wen Yan said the matter should be looked into seriously to encourage more developers to build more affordable homes.

"For the next budget, I think a key aim for the government is to benefit the poor, so affordable housing should be given some incentives," Ho said.

"Incentives should be given to help developers in producing low-cost and affordable homes," he told Bernama.

Currently, according to Ho, the incentives are not specific and not so targeted.

"So, in order to benefit the right group of people, the incentives to developers should be more targeted," he said.

Prime Minister Datuk Seri Najib Razak is scheduled to table Budget 2011 on Oct 15, 2010.

A series of focus group meetings are being organised by the Finance Ministry to gather input for the budget.

The meetings provide a forum for select groups from industries, associations, professional bodies and non-governmental organisations to make suggestions for the government to consider.

On Hua Yang as a property developer, Ho said the company has strived over the past 30 years to build a reputation in providing affordable public housing, delivered with quality and concern for the built environment.

"While most developers have moved on to high-end luxury projects, including overseas developments, we will continue to focus on providing affordable housing for the middle-income segment," he said.

Hua Yang is now operating in Perak, the Klang Valley and Johor. Its key projects in the Klang Valley are One South in the Seri Kembangan area and Symphony Heights in Selayang.

Its other projects include the mixed township developments of Bandar University Seri Iskandar and Metro Pengkalan in Perak, and Taman Pulai Indah in Skudai, Johor. — Bernama