Builders making 30pc profit: Hajiji
Published on: Saturday, October 10, 2015
Kota Kinabalu: Developers in Sabah have been asked to reduce the prices of some houses as they have been getting profit margins exceeding 30 per cent for them. Citing this as the rationale for making the call, State Ministry of Local Government and Housing Minister Datuk Hajiji Noor said the people were finding it increasingly difficult to own houses as they were beyond their means. "Yes, I am fully aware (of the ruling as espoused by Shareda) and we know what we are doing," he said when responding to a statement from Sabah Housing and Real Property Developers Association (Shareda) president Datuk Francis Goh that the state government must allow the market forces to determine the prices.
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Goh had said that the Minister may not be fully aware the ruling was implemented."In Sabah house prices are determined by the developers and not market forces and that is why houses in Kuching which is also in East Malaysia house prices are cheaper."On the purported delay in getting approval for development plans, he said the approving authority had to wait for comments from 13 government departments and agencies before approving them. Stay up-to-date by following Daily Express’s Telegram channel.
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"Please don't give excuses as you have been collecting management fees from apartment owners every month in the meantime," he said.
