Nga: Enhancing Professionalism of Property Developers, Best Practices in Construction Sector

“Nextgreen and SPOIC are considering forming a joint venture for a project, with SPOIC holding 70% ownership and Nextgreen the remaining 30%, per their MOU.”

Kuala Lumpur, 10th June 2024 – Housing and Local Government Minister Nga Kor Ming stated that he aims to change the public’s perception of real estate developers being associated with abandoned projects in order to better enhance the professionalism within the real estate development sector.

He said that since many people immediately link real estate developers with unfinished projects, it is necessary to alter the public’s established impressions and views of these developers to improve their professionalism.

“Today, I will prove that Malaysia can do it!”

He made this statement while speaking to the media after attending the National Outstanding Developers Recognition Ceremony in Putrajaya today.

Nga Kor Ming pointed out that Malaysian real estate developers have won six world gold awards at the International Property Awards, which is regarded as the Oscars of the real estate industry, deserving national recognition and praise.

“Since our first award in 1995, Malaysia has won at least one excellence gold award almost every year, showcasing the world-class standards of our developers.”

He said this also means that the international community recognizes the capabilities of Malaysian developers, proving that they can stand shoulder to shoulder with top global developers, providing the public with more sustainable and high-quality housing.

“This is also international recognition of the contributions and collective efforts of Malaysian real estate developers in enhancing the standards and image of the national real estate industry.”

He also hopes that these recognitions can inspire more local companies to pursue and enhance excellence in the real estate industry both domestically and internationally.

Additionally, he added that Malaysia, as the ASEAN chair next year, will host the ASEAN Real Estate Summit to jointly explore the future of ASEAN real estate and promote cooperation among ASEAN real estate sectors.

In the recent 2024 FIABCI World Prix d’Excellence Awards, Malaysian developers won six world gold awards in 14 categories. These included SkyWorld Development Group’s SkyAwani 3 Residences winning the World Gold Award for Affordable Housing Development, EUPE Corporation Berhad’s Parc3 @ KL South winning the World Gold Award for Residential (High-Rise) Development, and IJM Land’s Saujana Duta winning the World Gold Award for Residential (Low-Rise) Development.

Additionally, Tamarind Square, Queens Residences Q1, and Pavilion Bukit Jalil also won world gold awards for Mixed-Use Development, Residential (Mid-Rise) Development, and Retail Development, respectively.

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