Penang to set up its Housing Board in Jul

Property News/ 17 February 2011 Leave a comment

GEORGE TOWN: The state Housing Board, which will promote affordable housing projects by the private sector, will be established on July 1.

Penang Town and Country Planning, Housing and Arts Committee chairman Wong Hon Wai said an enactment to set up the board was passed at the state assembly in November last year.

“Under this enactment, the board is now a statutory body which will take time to be established,” he said.

“We hope to handle housing issues in a more effective manner. There must be proper legislation in place, and some amendments made to the Housing Development Act,” he said yesterday.

Chief Minister Lim Guan Eng had said that the board was necessary to counter high property prices currently beyond the reach of most Penangites.

Wong said that the board would look into eradicating corruption and reducing red tape in the housing sector while curbing excessive profits.

Source: The Star

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