Developer loans: Noh urged to eat humble pie


PETALING JAYA: Housing minister Noh Omar has been urged to ditch his proposal to allow property developers to lend money to prospective house-buyers and instead concentrate on meeting the need for affordable housing.

DAP social media strategist Yeo Bee Yin questioned how Noh’s ministry would meet the 11th Malaysia Plan target of providing 653,000 affordable homes by 2020, or an average of about 130,000 homes a year.

In a media statement yesterday, Yeo also asked for the housing ministry’s response to a report last year by government think tank Khazanah Research Institute on Making Housing Affordable.

She said the report highlighted the problem caused by developers being unresponsive to market demand, and had recommended a national housing survey and the creation of a database to ensure that supply would match demand.

The report also called for changes to the construction industry’s fragmented delivery system.

Yeo, who is Selangor state assembly member for Damansara Utama, noted that Noh’s money-lending scheme had received brickbats from both government and opposition politicians and by the Fitch Ratings agency.

“It is time for Noh Omar to eat humble pie and announce the cancellation of the plan,” she said and questioned how a minister could announce an important policy without having first studied the idea comprehensively.

She noted that Noh Omar had been appointed to the Cabinet only three months ago and said he should not come up with such an ill-conceived policy in his eagerness to perform.