Wednesday, 5 July 2017

(The Edge Financial Daily) Rehda eyes RM1b sales at affordable housing carnival


KUALA LUMPUR: The Real Estate and Housing Developers’ Association Malaysia (Rehda) is targeting to net RM1 billion in sales when it puts 100,000 homes on the market with prices not more than RM500,000 at its upcoming Affordable Housing Carnival — Malaysia Property Exposition (Mapex).

Around 100,000 people are expected to attend the carnival from Aug 11 to 13 at the Shah Alam Convention Centre, Selangor.

According to Mapex committee chairman and Rehda patron Datuk Ng Seing Liong (pic), the carnival will for the first time be hosted in collaboration with the urban wellbeing, housing and local government ministry. It is a first for the government to collaborate in a housing exposition.

“Rehda is honoured to work with the ministry to organise this carnival, as part of our efforts to encourage home ownership, which will be graced by Prime Minister Datuk Seri Najib Razak and Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar on Aug 12,” Ng told a media briefing yesterday.

Ng explained that the market for affordable housing is still big as demand is high. As such, the carnival’s aim is to be a one-stop centre to match the demand and supply.

“There may be people who do not know of current available affordable housing projects and, therefore, we want to use the carnival as a platform to spread awareness.” Ng added that the units are now available in the market, across the country.

Urban wellbeing, housing and local government ministry deputy director-general Jayasena K Navaratnam said it is in the government’s interest to ensure those seeking affordable housing are able to find it.

“The carnival will be like a testing platform for the government to assess the current situation of housing needs,” he added.

The carnival will seek to gather feedback via surveys on the public’s needs for affordable housing, which will then be tabled for review in conjunction with the upcoming Budget 2018 on Oct 27.

Rehda anticipates more than 60 developers and government agencies, as well as financial institutions, will take part in the carnival. The developers who have confirmed their participation include Glomac Bhd, IJM Land Bhd, MKH Bhd, UEM Sunrise Bhd, Mitraland Group, Matrix Concepts Holdings Bhd and several agencies under the National Housing Department.