14 October 2009

Our Wishlist.

According to The Star who interviewed one guy from Penang from the Penang Master Builders and Building Materials Dealers Association (PMBBMDA), the property development and construction players want Budget 2010 to remove, or keep to the minimal, the levies and stamp duties on private projects and property transactions.

I think I would agree to that - and add a lot more.

Firstly, the levies and stamp duties should remain at its original rates like before; no increment or revision for that. Having a low stamp duty and levy rates would be essential in keeping the costs of construction and prices of property low and affordable.

Secondly, I think our Government should reward or offer incentives to the developments that offer environmentally friendly and sustainable buildings. Try something like what Singapore is doing - offering incentives to those Gold or Platinum scoring Green buildings. Thats very essential in driving the push for green and sustainable developments.

Thirdly, the rollout of the mega projects.

The delivery and award of these contracts are to be more transparent and more efficient in order to ensure that the construction sector benefits as a whole - rather than just a couple of big players. Plus, speed is very essential too. A lot of announcements have been made in the last 18 months; but it seems like only a handful of mega contracts have been awarded. Its still taking kinda long for the larger ones, such as the LCCT or LRT tenders to be rolled out.

Lastly, with a slowly brightening outlook although in a gloomy environment ahead of us all, the Government needs to ensure that policies are enforced thoroughly and not just for a short term basis only.

I personally see a bright future for the construction and property industry.



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