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Property News

High time for Act to regulate urban regeneration efforts — REHDA

KUALA LUMPUR (Sept 7): The Real Estate and Housing Developers’ Association (REHDA) Malaysia welcomes the proposal by Minister of Local Government Development (KPKT), Nga Kor Ming to introduce an Act to oversee urban regeneration efforts in the country, stating that “it is high time for such an Act to be introduced given the lack of streamlined governance on such matters”.
Currently, urban regeneration is implemented via nine government ministries and agencies.
“It will be welcomed addition to the Urban Renewal Implementation Guidelines, which was just launched earlier this week,” stated REHDA.
REHDA President, Datuk NK Tong (pictured) added: “In formulating this Act, the government through YB Mr Nga’s Ministry has demonstrated a farsighted and balanced approach towards economic growth.”
“While we know that the trend towards urbanisation will continue to expand, KPKT recognises that this must be done in an orderly and proactive manner which includes ensuring that older buildings are given a new lease of life, even as newer buildings appear to fill the growing demand of urbanisation,” Tong explained.
Tong also said that he is “heartened that conservation is also included in the agenda, which will further protect the cultural and architectural heritage that is essential in making a city vibrant and relevant, while also paying respect to our history”.
“This new Act will continue to reinforce Prime Minister Datuk Seri Anwar Ibrahim’s Madani concept, specifically in the area of good governance by having very clear and transparent guidelines, and in the area of sustainable development by ensuring that all rakyat will equally benefit as more economic opportunities are unlocked through this Act,” said Tong.
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Source: EdgeProp.my

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