Penang to spur property sector and ensure sufficient supply of affordable homes
The Penang government will come out with an action plan to ensure that the low-income earners will still have access to affordable homes post Covid-19.
State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh said it was undeniable that the property sector would face tough times ahead.
“We cannot ignore the fact that the property sector is suffering, both the developers and purchasers,” Jagdeep told a press conference at Taman Free School that was streamed live on the Penang Island City Council (MBPP) Facebook page today.
“This extraordinary disaster has ruined many industries, including the housing industry.
“The buying capacity of the buyers is affected. This is important to me because for the past 10 years, we have given priority to affordable homes in the state.
“I will come out with an action plan to ensure that we have adequate stock of affordable housing for Penangites.”
He said his committee had started discussions with relevant players and he would be announcing the action plan soon.
Jagdeep said another matter of importance to Penang was the need to reprioritise and restrategise the Penang Structure Plan 2030 and the Penang2030 vision because of the pandemic.
The Penang Structure Plan 2030 was gazetted at the end of last year and the Penang2030 vision was announced by Chief Minister Chow Kon Yeow in August 2018.
“These are two important documents to guide Penang into the future. So, we need to relook at some of the components as they may have been overtaken by Covid-19.
“I’m happy to say that the chief minister was receptive to my suggestion at the exco meeting yesterday.
“Now everything seems to be at a standstill. We have to rebuild the economy and in the state’s next normal strategy, we are focusing on digitalisation to help speed up the recovery.
“It’s not that we have not delved into digitalisation because one of components in Penang2030 is to become a smart and green city.”
Jagdeep also praised MBPP mayor Datuk Yew Tung Seang and Seberang Perai City Council (MBSP) mayor Datuk Rozali Mohamud for achieving over 99% MCO compliance.
He also thanked the frontliners for their hard work to keep Penang clean and the Penangites for their cooperation during the MCO.
At the press conference, Jagdeep also presented some provisions such as rice, flour, cooking oil and ‘bee hoon’, to some 50 residents of Taman Free School flats in view of the coming Ramadan.
This was part of the 1,000 bags of provisions that are being distributed by Jagdeep’s service centre to nine areas in his Datuk Keramat constituency. The other eight areas are Caunter Hall, Kampong Makam, Wan Chik Ariffin, Kampong Dodol, Jalan P. Ramlee, Datuk Keramat, York Road and Kebun Lama.
Before the press conference, Jagdeep visited the Taman Free School market to distribute face masks to the traders, hawkers and market-goers.
Also joining him were Jelutong MP R.S.N. Rayer, MBPP mayor Datuk Yew Tung Seang and MBPP secretary Datuk Addnan Mohd Razali.
Source: Buletin Mutiara
better give it free, and increase the quit rent 3x from us to subsidise the poor.
i wonder how and when the poor can stand on their own feet ?
Malaysia has had excellent achievements in fighting covid-19, and that is well known to the international community. And with KL/Selangor still struggling a little with this pandemic, it will be such a pity if Penang doesn’t start selling itself aggressively to affluent foreigners as a pandemic free island, and start taking market share from KL/Sgor.
This pandemic has brought grave financial impact to the locals, and as Jagdeep put it, “it is undeniable that the property sector would face tough times ahead.”. In other words, if we can’t generate enough money locally to support the housing industry, we should attract foreign money to fill that gap. If developers cant sell upscale properties, where are they going to get the money to subsidise low/mid cost flats???
PG gov should quickly revamp foreign ownership policies, waive all those property taxes and stamp duties for locals and foreigners and encourage foreigners to buy up properties in secondary market. Once the secondary market is fixed, primary market will automatically bounce back.
dei, you must be another singh in the house. you are inviting rohingya” to flood into penang ?
@LGE
Nope, Rohingya does not belong to the group classified as “affluent foreigners”. Rohingyas should be turned away, if not, they will think they are very welcomed, and keep coming back to leech us dry.
r u sure affluent foreigners are good? culture, background not matching, how.it can be good to us? the only thing is we become a class lower, all properties manipulated by the affluent foreigners bcos of their cash rich to currency advantage, all places patron by them, we bcome servant to them.
what else Na.singh ?
call me Wong, david Wong the test expertise ok.
@Clitokrat
dont talk so big la.
the nature of Na.Singh is talk big