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BUSINESS

Mapex Terengganu 2022 offers 1,620 properties worth RM450 mln

23/06/2022 08:41 PM

KUALA TERENGGANU, June 23 (Bernama) -- A total 1,620 properties worth RM450 million will be offered in the Terengganu Malaysia Property Expo (Mapex) 2022 from today until Saturday at the Kuala Terengganu City Centre here.

The Real Estate and Housing Developers Association of Malaysia’s (REHDA) Terengganu branch chairman Mohamad Hishamudin Muda said nine developers are offering their properties at the event.

The properties offered include single and two-storey terraced houses, semi-detached units, shop offices, bungalows and commercial units.

“Mapex is a one-stop centre that brings together property development players to offer under construction and completed units, and even special financing packages for potential buyers.

"REHDA Terengganu branch hopes the public will take advantage of this expo to own their dream home,” he told reporters after the Mapex Terengganu 2022 launch officiated by the state government’s housing, health and environment committee deputy chairman Ahmad Shah Muhamed today.

The expo was held in collaboration with Terengganu State Economic Development Corporation, also known as Perbadanan Memajukan Iktisad Negeri Terengganu (PMINT), banking institutions and Tenaga Nasional Bhd (TNB). PMINT is among the state’s leading housing and property developer.

Earlier, Ahmad Shah who read out Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar's speech, said various initiatives have been formulated and being studied by the state government to make property ownership fair and balanced for everyone.

“The Terengganu government has also agreed to exempt development charges for privatised development of type A and B affordable housing (rumah mampu milik) constructed on government land starting April 2022.

This decision was made to help and encourage developers to provide more affordable housing so that more people can afford to own houses according to their ability," he said.

Apart from that, the state government also hoped that financial institutions exercise more flexibility when approving housing loan, a frequent complaint among borrowers.

"Developers must also conduct more thorough market studies before launching a project. This is very important to ensure that the price and type of housing is in line with market demand and loan eligibility.

"If a project does not meet real market demand, it will result in unsold properties and disrupt a company's cash flow. What we do not want most is a project that cannot be completed or which becomes abandoned because this will hurt all parties,” he said.

-- BERNAMA


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