Home News Malaysia Malaysia: Property Developers Urged to Function Sustainability

Malaysia: Property Developers Urged to Function Sustainability

Saturday, 25 July 2009

Players in the property industry have been urged to give more emphasis on the identity, function and sustainability of their projects so that Malaysia becomes a preferred destination for real estate. Prime Minister, Datuk Seri Najib Tun Razak, was reported to have said that the reputation of local properties for quality should be reinforced through promoting a Malaysian identity. Prime Minister Najib was reported to have said that Malaysian properties should consider going green. According to reports, he said the government was focused on promoting the use of green technology, which also includes encouraging the development of energy efficient buildings. "At the same time, it must be well integrated into the surrounding community," he was quoted as saying. In line with promoting the property sector, the government has also called for an open policy stance towards foreign investments in Malaysian properties. In 2008, the property sector contributed close to RM11 billion to the local economy, representing a growth of nearly 10 percent from 2007.