Penang housing exco mulls action plan to spur property sector

Jagdeep said the state government’s priority is to ensure adequate stock of affordable housing. — Picture by Sayuti Zainudin
Jagdeep said the state government’s priority is to ensure adequate stock of affordable housing. — Picture by Sayuti Zainudin

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GEORGE TOWN, April 23 — The Penang government is coming up with an action plan to spur the property sector, said state exco Jagdeep Singh Deo.

The Local Government, Housing and Town and Country Committee chairman said the property sector has been hit hard during Covid-19 pandemic.

“I will submit an action plan to assist the property sector, which will be suffering tough times for both sides, developers and buyers,” he said during a press conference today.

He said home buyers will be affected in terms of purchasing capacity so the state’s action plan will look into ways of assisting them.

Jagdeep said the state government’s priority is to ensure adequate stock of affordable housing and the action plan will look at ensuring buyers have access to affordable housing.

The Penang lawmaker has also proposed a review of the state structure plan and its Penang2030 vision.

“I suggested in the state exco yesterday that we revitalise and re-strategise the components of both of these plans,” he said.

Jagdeep said Penang needs to stimulate its economy following the pandemic so it will also need to shift its focus for both its structure plan and Penang2030 vision.

He said the focus will now be on digitalisation in the new normal.

“We have already been focusing on digitalisation but for the new normal, we need to focus more and speed up in embracing digitalisation,” he said.

Jagdeep said the Penang Chief Minister Chow Kon Yeow has also agreed to his proposal to revitalise and re-strategise some components of both documents.

Chow had earlier said the state government will be coming up with a Penang Next Normal Strategy to face the economic challenges that the state has experienced due to the pandemic.

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