3 days ago
- Business
- New Straits Times
WCT Land calls for stronger green housing push, HOC revival in 2026 Budget
KUALA LUMPUR: WCT Land Sdn Bhd is pushing for a policy shift in the 2026 Budget that could re-energise Malaysia's property market – urging stronger green housing incentives, a broader Home Ownership Campaign (HOC) and targeted tax relief to counter rising development costs.
Chief operating officer Chong Wah Hing said the market is at an inflection point, with sustainability now a defining factor in buyer decision-making and developers under pressure to meet net-zero targets while keeping homes affordable.
Strengthening green housing support and widening HOC benefits could help revitalise the sector and encourage more buyers to commit to sustainable properties, Chong said at the Maybank Home Financing: Solutions for Sustainability-Designed Homes conference here today.
Chong urged the government to review the Real Property Gains Tax (RPGT)—often seen as a hurdle for market liquidity—and introduce corporate tax incentives for developers to absorb surging material and labour costs.
Industry observers say such measures, if included in the Oct 10 Budget, could act as a sector catalyst, boosting sales momentum and stimulating construction activity.
WCT Land has already achieved 80 per cent green certification across ongoing projects (excluding affordable housing) and pledged that all new developments will carry green credentials, in line with its net-zero 2050 commitment.
Its latest flagship, Aras Residences in the 25.5-hectare WCity OUG masterplan, has secured a Provisional Green Real Estate (GreenRE) Silver Certification. The 1,272-unit park-front serviced residential project in Taman Overseas Union, Kuala Lumpur, has achieved a 30 per cent take-up rate since its launch last month, with completion targeted for end-2029.
To convert green interest into sales, WCT Land has partnered with Malayan Banking Bhd (Maybank) to offer up to 120 per cent financing for buyers of its GreenRE-certified projects – Aras Residences, Maple Residences in WCity OUG, and Adison Serviced Apartments in W City Larkinton, Johor Bahru.
The package includes a 95 per cent margin plus an additional 5 per cent to cover ancillary costs, alongside Maybank's MyDeco Financing, which offers up to 30 per cent extra (capped at RM250,000) for interior design and furnishings. Conventional and Islamic options are available, with flexible repayment tenures of up to 10 years or until age 70.
