Rehda: Malaysians could benefit from housing fund

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Rehda: Malaysians could benefit from housing fund

12 Mar 2010

A proposed fund from Malaysia's Real Estate and Housing Developers' Association (Rehda) could benefit house buyers in the country.

Conceived to encourage the successful completion of real estate projects, the allocation designed to ensure buyers do not suffer if projects hit financial difficulties and fail to meet completion agreements, reports Bernama.

Organisation president Datuk Ng Seing Liong said: "The housing industry reflects the progress of the country and if there are many problems, it will bring a negative impact to the government."

The association also said buyers should only purchase properties from Rehda-affiliated members – thus giving the maximum amount of protection against failures.

Proposals were initially drawn up last year and a paper was presented to the government in July. The current plans will require state approval before any implementation.

The news provider also reported this week extra investment could be coming in to Malaysia from Norwegian-based Aker Solutions, who is looking to secure new contracts in the Asia-Pacific region.
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