The National House Buyers Association (HBA) underlines the necessity for unanimous consent from all unit owners in any plans for real estate redevelopment, rejuvenation, or renewal in Malaysia. Datuk Chang Kim Loong, the honorary secretary-general, stresses HBA's opposition to any consent threshold other than 100 percent, despite proposals by industry players for varying thresholds based on the age of buildings.
The Housing and Local Government Ministry's proposal of a 75 percent consent threshold for en-bloc sales aligns with international standards but draws strong criticism from Chang. He warns that enacting such a law without genuine consent from all owners could lead to social unrest and disrupt developments.
Chang expresses concern that the proposed law might revive contentious en-bloc strata sale proposals, primarily aimed at developers profiting from land seizure rather than genuine rejuvenation. He highlights the emotional and financial complexities involved in redevelopment discussions and the pressures faced by minority homeowners to comply with majority decisions.
En-bloc strata sales, driven by commercial interests, involve developers acquiring land with buildings, convincing owners to sell their properties, and demolishing existing structures for new developments. Chang argues that such laws prioritize majority profit over property rights and could infringe upon constitutional protections.
HBA views the proposed Urban Renewal Act as regressive and urges the government to protect homeowners' rights, regardless of property location or tenure. Chang warns against succumbing to profit-driven developer interests and emphasizes the need to uphold constitutional principles in safeguarding homeowners across the country.
