New steps a win-win situation for developers, housebuyers
14/04/2007 NST By Ooi Tee Ching

KUALA LUMPUR: The government’s move to improve the delivery system for the property sector could lead to greater efficiency in property projects, higher quality homes and faster completion, industry players said.

Property developers said quicker approvals within six months and the establishment of one-stop-centres would enhance business efficiency and facilitate development of the property market.

"Speedier approvals would lead to lower holding costs, translating into better efficiency of capital. These savings could in turn be passed on to housebuyers, a win-win situation for all parties," Mah Sing Group Bhd managing director Datuk Leong Hoy Kum said.

SP Setia Bhd group managing director Tan Sri Liew Kee Sin said the new measures would result in a more progressive property industry as "only the fittest players can stand up to the competition and win hearts of buyers".

"In the long run, competitive forces will compel developers to constantly raise the bar so buyers can enjoy high-quality products at even lower prices," Liew said.

The Real Estate and Housing Developers’ Association (REHDA), meanwhile, described the move to improve the sector’s delivery system as a milestone.

"REHDA has always been a firm advocate of pruning bureaucratic layers that are counter-productive. A streamlined public delivery system would serve as solid ground for a vibrant property sector," association president Ng Seing Liong said yesterday.

"Housebuyers would also stand to benefit from greater efficiency in the system," he added.

Ng said setting up the National Inspectorate under the Housing and Local Government Ministry would help motivate authorities to expedite approvals and provide a mechanism for troubleshooting.

The Malaysian Institute of Architects (MIA) said that the implementation of the Certificate of Completion and Compliance (CCC) for delivery of completed buildings was now incumbent on the developers, architects and engineers.

"This acknowledges architects and engineers as part of the delivery process that focuses on meeting housebuyers’ needs," MIA president Dr Tan Loke Mun said.

He added that to ensure architects carried out their responsibilities independently, MIA had proposed to the Works Ministry that architects’ fees be deposited with the Board of Architects as the stakeholder, and disbursed progressively according to work done.

With self-certification, the issuance of the CCC by the architect will be simultaneous with the handing over of vacant possession to the purchasers.

"Buyers can now look forward to moving into their houses, which are certified fit to live in, when the housing developers hand over the house keys," Tan said.