JOHOR Menteri Besar (MB) Datuk Onn Hafiz Ghazi said the Johor government plans to introduce policies to curb property price spikes and speculation following the Johor-Singapore Special Economic Zone (JS-SEZ) implementation.
He addressed concerns about rising real estate prices saying affordable housing development is among the initiatives.
According to him, the government aims at balancing economic development with the well-being of residents amidst the JS-SEZ’s implementation, which aims to enhance economic ties between Malaysia and Singapore.
“Johor needs (new) policies to curb property price speculation. We don’t want property prices to rise and eventually the people of Johor cannot afford (to buy properties). There may be certain premiums that can be introduced.
“In addition, the state government will also discuss with the Housing and Local Government Development Ministry to build more affordable houses in the JS-SEZ area,” he added.
In January, Prime Minister Datuk Seri Anwar Ibrahim and his Singaporean counterpart Lee Hsien Loong, witnessed a memorandum of understanding (MOU) signing ceremony for JS-SEZ between the two countries.
The MOU was formalised by Economy Minister Rafizi Ramli and his Singapore counterpart Trade and Industry Minister Gan Kim Yong. – May 12, 2024
