Developers have been hit with significant increases in construction costs for projects following the imposition of a levy on steel products in February.

Real Estate Housing Developers’ Association (Rehda) president Fateh Iskandar Mohamed Mansor said yesterday that the price per tonne of steel had risen to about RM2,700 from RM1,800 previously.

In addition, compliance and development costs also increased by 15% to 18%, he was quoted as saying by The Malaysian Reserve.

Development and compliance fees mainly consist of conversion premiums, development charges, infrastructure contribution fund, as well as connectivity to utility companies.

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MediaTitle: Daily Express (KK)
Date: 09 Oct 2017

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