Property Hunter Magazine October Issue 2014 | Page 42
/// East Malaysia Property News
Build-Then-Sell Proposal Will Be Handed to Cabinet
Eight years ago, the policy was
announced in parliament and
approved for implementation by the
government in August 2006 and the
current choice given to developers
to either BTS or Sell-Then-Build (STB)
saw most opting for the latter.
“The decision is not easy because
the developers, especially smaller
developers will require extra
financing for their housing projects
and even the banks will also have to
change their financing models (to
accommodate such a rule).
The Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan
The Urban Wellbeing, Housing and
Local Government Minister Datuk
Abdul Rahman Dahlan said his
ministry will be submitting papers
to the cabinet on the pros and cons
of the Build-Then-Sell model within
a month or two, drawing flak from
National House Buyers Association
(HBA) secretary general Chang Kim
Loong.
As reported by local media, Chang
argued that talk of submitting
papers on the pros and cons of
the policy was a step back from the
commitment made by the previous
housing and local government
minister Datuk Seri Chor Chee
Heung, that it be made mandatory
by the year 2015.
“The ministry has to look at the
overall economic impact of such a
move and not only house buyers’
interest,” Abdul Rahman said.
He added that only a few developers
have implemented the BTS model
since it was introduced on a
voluntary basis in 2007, despite
various incentives being given to
encourage more to move to the BTS
model.
Incentives for developers include
exemption from paying the
RM200,000 deposit for a housing
development licence, exemption
from obligation of building low-cost
units and given options to build
medium low-cost houses in lieu, and
fast-lane priority for applications
such as land conversion and
subdivision, planning permission
a nd building plan approval.
Moreover, under the BTS model,
buyers need to pay a 10% deposit
and only pay the remaining 90%
purchase price upon completion of
the unit.
The STB model however see
buyers pay or draw loans until the
construction is completed.
This story was first published by
www.propertyguru.com.my and is
reproduced as part of an editorial
partnership between Property
Hunter and PropertyGuru Group.
UUC Phase 1 Ready to Be Moved in Soon
during the launching ceremony. Indeed, a number
of walls around the compound of the 40,000 sqft
UUC Clubhouse have been designated as the
drawing boards for the contest participant.
GRAND
MERDEKA
Mei Wong, the operation manager of The
W Group claimed that the group is the first
developer in town to launch such initiative. The
winner will not only be able to have his or her
masterpiece featured in prominent spots at the
5000 unit establishment, he or she will also walk
away with attractive cash prizes.
During the launch event, Property Hunter was
given a private tour around the development.
Phase 1 which consists of 1,360 units is expected
to be handed over in a couple months time upon
obtaining the occupancy certificate (OC).
University Utama Condominium (UUC), a
signature community development by The W
Group is doing its final touch up to prepare itself
for the tenancy handover, which is expected to
happen in a couple of months time.
of the “Feature Wall Design Competition”. The
competition initiated by the group’s concept
designer Alan Wong is an event aimed at
encouraging the creative minds of the local
people.
UUC officially welcomed its first troop of
guests through its door during a recent byinvitation event, which also signified the launch
“We want to be able to provide a platform for the
talented local artists or art enthusiasts to be able
to express their creative work” said Alan Wong
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The units at UUC are almost fully furnished
and are renovated to high quality standard.
UUC boasts a high measure of security with
a full fledge team of trained security guards
safeguarding the compound, and each unit is
also fitted with high tech smart home intelligent
system which can capture images of the house
remotely.
Phase 1 and 2 are completely sold out with
approximately 70% sold at phase 3. The
developer announced that phase 5 will soon
be opened for sale so interested parties are
encouraged to contact them at +6088 260
727 or [email protected].
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