The Local Government Development Ministry (KPKT) released a statement today indicating that the MADANI framework aims to enable more individuals, particularly those in the B40 group, to become homeowners by 2025.
However, the ministry acknowledged that this goal can only be achieved through the collaboration of various parties. KPKT stated that it is prepared to review the National Housing Policy in accordance with the MADANI policy framework in order to ensure that it aligns with the well-being and balance for all Malaysians.
Through the creation of a new housing policy and improved planning, KPKT believes that the objective of providing 500,000 affordable homes by 2025 can be achieved with the cooperation of all housing agencies at the federal, state, and private developer levels. The ministry is also studying the national housing policy with the aim of improving the implementation of affordable housing and the provision of public housing.
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In addition, the new National Housing Policy will take into account the diverse needs of citizens based on their culture, customs, religions, and the country’s multi-ethnic society. This will strengthen the country’s housing development strategy, which is based on MADANI’s six core values: Sustainability, Prosperity, Innovation, Respect, Trust, and Compassion.
Furthermore, KPKT also announced that it will investigate housing policies in other countries, specifically Singapore, which has been successful in providing public housing to 80% of its eligible citizens regardless of race. The ministry plans to share its knowledge of affordable housing development and management with Singapore and will hold a knowledge sharing session with housing experts from Singapore to enhance the country’s housing development strategy.