BANTING: Dr Mahathir Mohamad says Putrajaya will review the build-then-sell scheme for property ownership this year, which he expects to reduce property oversupply and mitigate the risk to property owners.
He added that dependence on the private sector had led to constraints in supply and demand due to poor locations, affordability levels, and the need to manage profit against meeting the needs of the people. Mahathir also said developers would be guided by criteria in building quality affordable homes for the bottom 40 or B40 group, such as built-up areas of not less than 900 sq ft with the necessary facilities and infrastructure.
“The use of IBS, which comprises Building Information Modelling , an online design tool coupled with IBS in public housing projects, will help the government meet its target of one million affordable homes over a period of 10 years,” he said.