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Chinese is the most active investor in project "Malaysia My 2nd Home"

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Chinese is the most active investor in project "Malaysia My 2nd Home" M'sia News

KUALA LUMPUR: Developers undertaking future mega housing projects must conduct social impact assessment studies to avoid "exclusivity and resentment", says Housing and Local Government Deputy Minister Datuk Raja Kamarul Bahrin Shah (pic).
The requirement, he said, is to avoid issues such as those surrounding Johor's multi-billion Forest City project, which had been seen as being exclusively catered for Chinese nationals.
"It would be preferable that developers undertaking mega housing projects conduct a social impact assessment for their projects so that there will not be exclusivity as mentioned.
"We are aware that if there is a zone for exclusivity, it will give rise to resentment among locals and this is not healthy for the local community irrespective of how much investment is brought in," he said when replying to a supplementary question raised by Khairy Jamaluddin (BN-Rembau) in Parliament on Thursday (Nov 1).
He assured lawmakers that the ministry was in talks with the Johor state government and Forest City developers on how to include affordable homes for locals.
"The project comes under the state and is in an international zone so there is no limit in the number of foreign ownership as it does not fall within the ministry's jurisdiction," he said.
On Malaysia My Second Home Programme, Raja Kamarul said that a total of 4,499 foreigners are homeowners.
Of this, he said 1,664 or 37% were owned by Chinese nationals followed by United Kingdom (357), Bangladesh (250), Iran (217), Japan (208), Pakistan (192), Singapore (175), Australia (147), South Korea (127), United States (115) and others (1,047).
Based on a 2010 survey by the Statistics Department, he said that there were 160,197 foreign homeowners compared to 3.6 million local buyers in Malaysia.
(Source : TheStar)
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