Foreign Investors Eye Low-cost Housing Projects

By Editorial Team 26/09/2019
Housing
Summary

Foreign companies are joining in housing projects for low-income people (MBR) as the issuance of several supporting regulations, such as loan-to-value relaxation, opened up opportunities for foreign investors.

According to Public Works and Public Housing Ministry’s Housing Provision Director-General, Khalawi Abdul Hamid, foreign investors are directed to involve in the One Million Houses program. He said many overseas property developers, such as from China and South Korea, had applied for low-cost housing construction permits since there are no such programs in other countries. The ease of investment for foreign developers is supported by the ease of licensing, which is regulated through Government Regulation No. 64/2016 on housing for MBR.

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