Kuala lumpur: The government will offer incentives to property developers who adopt the 'build and sell' policy, aiming to eliminate abandoned projects by 2030. Housing and Local Government Minister Nga Kor Ming announced that details of these incentives, which will be included in the 13th Malaysia Plan (13MP), will be revealed soon.

According to BERNAMA News Agency, developers who successfully implement the 'build and sell' model will receive government incentives under the 13MP. "This new policy will be announced after the 2026 Budget, as we have already identified proactive measures to prevent abandoned housing projects," Nga stated at the REHDA Fellowship Dinner 2025. The event was also attended by REHDA Malaysia president Datuk Ir Ho Hon Sang and REDHA Perak chairman Ir Loh Ban Ho.

In his opening speech, Nga reiterated the ministry's commitment to tabling the Urban Renewal Bill for its second and third readings in Parliament, emphasizing its importance to public welfare. He described the Bill as a crucial step to ensure the well-being of the people and to revitalize Malaysia's decaying urban areas, ensuring no one lives in unsafe or deteriorating housing.

Nga stated that urban renewal is a national priority aimed at improving well-being and promoting sustainable urbanization. He highlighted the positive impacts of urban renewal projects, such as Razak Mansion and Residensi Kerinchi, which have seen increased property values and improved living conditions for residents.

The Bill will be supported by mediation committees at both federal and state levels to ensure fair outcomes, with ongoing government oversight. "We have conducted over 105 engagement sessions with stakeholders from federal and state levels, as well as academic experts, industry representatives, and resident associations," Nga added.

He called on Members of Parliament to support the Bill in its upcoming readings, emphasizing that leadership requires bold decisions that prioritize national interests and public welfare.