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THE Penang State Executive Council (MMK) will conduct a thorough review of the recently announced five percent housing discount for Indian Muslim first-time buyers, in an effort to develop a more inclusive housing policy that benefits all segments of society.
Bernama reported today that Chief Minister Chow Kon Yeow said he had instructed State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo to reassess the implementation of the discount in collaboration with property developers. The aim is to broaden the scope of the benefit and enhance fairness across communities.
“The state government has received various feedback following the announcement of a five percent discount for the Indian Muslim community on unsold ready-built units, as announced by the Housing and Environment Exco on 5 June.
“Some of the responses suggest that such a discount should be extended to all eligible buyers to help reinvigorate the property sector, especially concerning the sale of unsold units,” Chow said in a statement on Saturday.
On Thursday, Sundarajoo introduced the five percent discount for Indian Muslims purchasing residential and commercial properties under the state’s MADANI Inclusive Housing Ownership and Property Sector Momentum Catalyst Policy (MOC).
The initiative is one of several incentives introduced under the policy, which will be effective from 1 June 2025 to 31 May 2026. Other measures include the introduction of a special housing category, Rumah MutiaraKu (RMKu) Type D, with a ceiling price of RM400,000, and reduced developer contribution rates for projects not physically providing RMKu Type A or B units.
The MOC is designed as an intervention to stimulate Penang’s property sector, following industry consultations and a shared understanding of the growing concern over unsold non-affordable housing units.
According to the Q4 2024 Penang State Property Market Report issued by the National Property Information Centre (NAPIC), 2,796 residential units remained unsold, spanning various property types across the state.
Chow said the review would ensure that any policy revision remains aligned with the state’s commitment to social equity and economic revitalisation.
“The goal is to ensure the housing policy is inclusive, fair, and supportive of all communities, in line with the principle of social justice,” he added. - June 8, 2025