Developers struggling to sell their Bumiputera units should try using promotions and property exhibitions to attract buyers, before asking for a release mechanism on the unsold units, according to Shikin Taib, Managing Director of MMC Sdn Bhd.
“They should advertise in Malay and English newspapers and embark on other promotion measures. If not, they would be stuck and there will be property overhang,” said Shikin in a report by Business Times Malaysia.
Based on a research conducted by the Real Estate and Housing Developers Association Malaysia (REHDA), Bumiputera allocation is the top cause of property overhang. Moreover, developers are complaining that unsold Bumiputera units are reducing their profit margin.
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