Weekly Industry News

Study to clear premium properties to foreigners by next month, says KPKT minister

Weekly Industry News

THE Ministry of Housing and Local Government (KPKT) is expected to receive the initial study of a proposal meant to sell off the high-end houses to foreigners by next month.

Its Minister Zuraida Kamaruddin said the Home Ministry (KDN) and the Ministry of Tourism, Arts, and Culture (Motac) have, in principle, agreed to mandate KPKT secretary general Datuk Seri Mohammad Mantek to lead the study committee.

She also said the committee — which would comprise the secretary generals of KDN and Motac — is also expected to discuss and include historical data and potential markets of premium houses in Malaysia to be sold to foreigners, as well as buyers from China and Hong Kong.

“It is agreed that this committee (would) deliberate the future direction (of premium property overhang) based on the Malaysia My Second Home (MM2H) programme.

Media Title:  The Malaysian Reserve

Date: 24 Sep, 2019

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