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Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
By-laws for devt of gated communities still lacking Print E-mail
Sunday, 09 May 2010 16:12

KUCHING: The development of gated and guarded communities (Gacos) are still affected by the lack of bylaws and legal framework despite their increasing popularity.

Assistant Minister of Housing and Urban Development Abdul Wahab Aziz said the teething problems surrounding the development of Gacos needed to be solved.

He said Gacos had become a trend among the more affluent society because residents got to enjoy 24-hour security, services, privacy and many other amenities.

In Kuching alone, the development of Gacos in some parts of the city is just starting to get off the ground and this concept is well received by discerning buyers.

“Prospects under the ‘Malaysia My Second Home (MM2H)’ programme are also keen on Gacos, resulting in several developers toying with the idea of implementing its development.

“The change for better secured and quality development is inevitable.

“However, teething problems need to be addressed as the development requirements, bylaws and legal framework are still not in place and need to be look at,” he said.

Abdul Wahab made these remarks when opening the Sarbex 2010 exhibition at Borneo Convention Centre Kuching (BCCK) yesterday on behalf of Chief Minister Pehin Sri Abdul Taib Mahmud.

Depite the lack of legal framework, he hoped developers would continue to meet the high standards expected of the new generation of house buyers and expatriates working in the state.

“This is especially so in SCORE (Sarawak Corridor of Renewable Energy) areas and major urban areas such as Kuching, Sibu and Bintulu,” he said.


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