KUALA LUMPUR: The government is considering a proposal to prevent fraudulent housing developers and their families from leaving the country as part of its plans to amend the Housing Development (Control and Licensing) Act 1966 (Act 118).
Housing and Local Government Minister Nga Kor Ming said that this requirement would apply to developers involved in fraudulent projects.
"If the amendment is successful, any housing developers found guilty of fraud will be barred from leaving the country, and their families will also be blacklisted. This is to ensure that housing developers operate with integrity," he said during a press conference and engagement session regarding the ministry's 2025 budget allocation today.
In July, Nga said that the proposed amendment aims to implement stricter measures against developers engaged in fraud and abandoned projects, with plans to table it in the Dewan Rakyat next year.
He said that the ministry was actively consulting with stakeholders to ensure that the amendments yielded fair results for all parties involved, including property buyers.
Nga also said that the Housing Credit Guarantee Scheme and the tax relief on housing loan interest payments outlined in the 2025 Budget were evidence of the government's commitment to promoting homeownership in line with the aspiration of "shelter for all."
He said that these schemes would particularly benefit first-time homebuyers, including gig workers and university graduates, by helping them secure bank loans despite bankability challenges due to the lack of monthly payment slips, as their loans would be guaranteed by the government.
"Currently, the homeownership rate stands at 76 per cent, and our target is to ensure that 100 per cent of Malaysians have access to decent homes," he added.