Latest news with #MadaniHomeOwnershipCampaign
The Star
a day ago
- Business
- The Star
Penang seeks to expand 5% home discount to all buyers
GEORGE TOWN: The 5% housing discount for first-time homebuyers involving the Indian Muslim community will be reviewed, says Chow Kon Yeow. The Penang Chief Minister said he has instructed state housing and environment committee chairman Datuk Seri S. Sundarajoo to review the policy with developers to expand the discount to all buyers. He said the move will make it more inclusive and beneficial to all segments of society in line with the principle of social justice. 'Some of the views received suggested that such a discount should also be offered to all buyers to revitalise the property sector, especially in relation to the sale of unsold new property units,' he said in a statement yesterday. The state executive council, Chow said, would study the matter and make an appropriate decision in the interest of all parties. On Thursday, Sundarajoo told reporters that from June 1 until May 31 next year, developers would be encouraged to offer Indian Muslims who are first-time homebuyers a 5% discount under the Madani Home Ownership Campaign. On Saturday, he issued a formal statement on the matter but about an hour later, Penang DAP chairman Steven Sim announced that Chow agreed to suspend the discount offer pending the review. The initial policy announced by the state government was criticised by MCA, which described it as racially divisive. State MCA secretary Yeoh Chin Kah questioned why the Penang government could not base its housing policy on economic status rather than race and religion, expressing confusion that DAP, a party advocating for a 'Malaysian Malaysia', would introduce such a racially framed initiative. 'The people of Penang cannot accept this policy and condemn it for dividing the races,' he said.
Malaysiakini
2 days ago
- Business
- Malaysiakini
Penang CM agrees to review Indian Muslim housing discount, Sim says
Penang Chief Minister Chow Kon Yeow will review the state government's offer of a five percent housing and commercial property discount to Indian Muslims under the Madani Home Ownership Campaign (MOC). In a statement today, Penang DAP chief Steven Sim said he discussed the issue with Chow, who agreed to discuss the matter in the state executive council meeting. He explained that the initiative was to...
The Star
2 days ago
- Business
- The Star
Penang CM instructs review of 5% housing discount
GEORGE TOWN: The Penang government has instructed state housing committee chairman Datuk Seri S. Sundarajoo to review the 5% housing discount for first-time homebuyers among the Indian Muslim community. Chief Minister Chow Kon Yeow said he has instructed Sundarajoo to review the policy with developers to expand the discount to all buyers, making it more inclusive and beneficial to all segments of society in line with the principle of social justice. "Some of the views received suggested that such a discount should also be offered to all buyers to revitalise the property sector, especially in relation to the sale of unsold property units," he said in a statement on Sunday (June 8). Chow stated that the state executive council will also examine the matter and make an appropriate decision in the interest of all parties. On Thursday (June 5), Sundarajoo announced that from June 1 this year until May 31 next year, developers would be encouraged to offer IndianMuslims who are first-time homebuyers a 5% discount under the Madani Home Ownership Campaign. He added that the discount excludes bumiputra quota units and does not affect existing housing policies. However, Penang DAP chairman Steven Sim, in a statement on Saturday (June 7), announced that Chow had agreed to suspend the discount offer pending a review by the state executive council, emphasising the importance of upholding social justice and ensuring every Malaysian's right to own a home. The initial policy announced by the state government earlier had been critised by MCA who described the move as racially divisive. State MCA secretary Yeoh Chin Kah questioned why the Penang government could not base its housing policy on economic status rather than race and religion, expressing confusion that DAP, a party advocating for a 'Malaysian Malaysia', would introduce such a racially framed initiative. "The people of Penang cannot accept this policy and condemn it for dividing the races,' he said. He also said by offering the privilege only to Indian Muslims, Yeoh questioned whether it amounted to a new form of racial quota. 'Don't low-income groups who are not Indian Muslims also need assistance? Shouldn't struggling families be treated equally and helped regardless of background?' he added.
New Straits Times
3 days ago
- Business
- New Straits Times
Housing discount for Indian Muslims won't affect Bumiputera quota
GEORGE TOWN: The offer of a five per cent discount for first-time homebuyers from the Indian Muslim community in Penang does not involve units under the Bumiputera quota and does not affect any existing home ownership policies, said state executive councillor Datuk Seri S. Sundarajoo. Sundarajoo, who is in charge of housing and environment, said the initiative is part of efforts to expand home ownership opportunities in the open market, particularly for groups with low participation rates, without affecting the rights of other communities. "This discount is being offered as a form of corporate social responsibility by developers and does not involve any financial support or subsidy from the state government. "The state government would like to emphasise that all existing housing policies, including the Bumiputera quota and various incentives for first-time homebuyers, remain intact and will continue to be enforced," he said in a statement today in response to criticism from several quarters regarding the discount. Last Thursday, Sundarajoo announced a five per cent discount incentive for the Indian Muslim community for the purchase of residential and commercial units under the Madani Home Ownership Campaign (MOC), which is effective from June 1, 2025 to May 31, 2026. Other initiatives include the introduction of a special housing category, Rumah MutiaraKu Type D (RMKu D), with a maximum price of RM400,000, and a reduction in contribution rates for developers who do not physically build RMKu Type A or B units — from RM120,000 to RM100,000 in areas under the Penang Island City Council, and from RM120,000 to RM72,500 under the Seberang Perai City Council. Sundarajoo said the five per cent discount is an additional measure complementing various existing programmes already in place to meet housing needs in the state. He said that it is an intervention to help reinvigorate the property sector following discussions and consensus among housing industry stakeholders, taking into account the growing concern over the oversupply of non-affordable units in Penang. "According to the Q4 2024 Penang State Property Market Report issued by the National Property Information Centre, 2,796 residential units were identified as overhang, involving various types of properties across the state," he said. In addition to improving housing accessibility, he said the initiative also aims to revitalise the property sector affected by rising construction and labour costs, in line with the state government's aspiration to achieve more balanced, sustainable and inclusive development in Penang.
Malaysiakini
3 days ago
- Business
- Malaysiakini
Penang CM agrees to review Indian Muslim housing discount, Sim says
Penang Chief Minister Chow Kon Yeow will review the state government's offer of a five percent housing and commercial property discount to Indian Muslims under the Madani Home Ownership Campaign (MOC). In a statement today, Penang DAP chief Steven Sim said he discussed the issue with Chow, who agreed to discuss the matter in the state executive council meeting. He explained that the initiative was to...
