Nga Kor Ming: Govt offers 10pc home‑purchase discount at AREC 2026; Malaysian developers win 14 FIABCI awards

KUALA LUMPUR, July 3 — The government is offering a 10 per cent discount on home purchases during the Asean Real Estate Conference (AREC) 2026, which will be held at the Malaysia International Trade and Exhibition Centre (MITEC) from July 29 to August 1.

Housing and Local Government Minister Nga Kor Ming said the initiative, introduced through collaboration between the ministry and the Real Estate and Housing Developers’ Association Malaysia (REHDA), is aimed at easing the financial burden on homebuyers, particularly in meeting the 10 per cent deposit required under the Sale and Purchase Agreement (SPA).

He said Prime Minister Datuk Seri Anwar Ibrahim is scheduled to officiate the four-day conference, which will feature forums, business matching sessions and an exhibition expected to generate RM1.5 billion in transactions.

“The Ministry of Housing and Local Government (KPKT) has also introduced the Rahmah Cement initiative to help the industry address rising construction costs by providing 1.6 million metric tonnes of cement for developers building affordable homes.

“This is to ensure that house prices remain affordable, not just a dream but genuinely affordable. That is very important because our slogan is “Rumahku, Syurgaku” (My Home, My Heaven). We want Malaysians to have the right to own quality homes. That is our aspiration,” he said.

He was speaking to reporters after the Developers’ Excellence Appreciation Ceremony held in conjunction with the FIABCI World Prix d’Excellence Awards 2026 here yesterday.

Commenting on the achievements of local property developers at the awards, Nga said Malaysia emerged as the overall champion after winning 14 awards comprising eight gold medals and six silver medals across various categories.

The gold medal winners included Park Regent @ Desa ParkCity in the Residential (High Rise) category; The Mansions @ ParkCity Hanoi in the Residential (Low Rise) category; Merdeka 118 for Best Office and Sustainable Development; Elmina Lakeside Mall in the Retail category; Sunway Velocity Two (Phase 1) in the Mixed-Use Development category; Gamuda Gardens in the Master Plan category; and Diamond Precinct, Vietnam, in the Residential (Mid Rise) category.

According to Nga, the achievement demonstrates that Malaysian property developers are not only capable of competing internationally but have also set world-class benchmarks, with Malaysia having won 135 gold medals globally since the awards were introduced in 1992.

He said the success also sends a clear message to the international community that Malaysia is ready to shine on the global stage.

“This is undoubtedly a catalyst for global confidence in Malaysia’s property industry players. That is why we are seeing Malaysian companies, including ParkCity Group in Vietnam, SP Setia in Australia, OSK Property in Melbourne and EcoWorld in London, successfully expanding overseas.

“This is the Malaysian government’s aspiration – for our companies to be champions not only at home but also on the world stage,” he said, adding that the Prime Minister is also scheduled to launch the National Housing Policy on July 30. — Bernama