JS-SEZ: Johor government considers policies to curb property price speculation

ISKANDAR PUTERI: The Johor state government is considering implementing policies to curb property price speculation associated with the establishment of the Johor-Singapore Special Economic Zone (JS-SEZ).

Mentri Besar Onn Hafiz Ghazi pointed out that the initiative stemmed from concerns expressed by various stakeholders, including residents of the state and external investors, regarding speculation around rising property prices amid the Ongoing development plans for the special economic zone.

He noted that real estate speculation has led to significant increases in land and housing prices in several regions, requiring government monitoring and control.

“Johor needs new policies to curb escalating real estate speculation,” he said in response to Datuk Pandak Ahmad’s (BN-Kota Iskandar) supplementary question at the state assembly sitting in Sultan Ismail building here Sunday, May 12.

Pandak asked about the Johor government’s assurances regarding the welfare of residents, particularly the safety of local fishermen at sea, and the expected increase in property prices in Iskandar Puteri following the implementation by JS-SEZ.

Onn Hafiz, who is also Machap State MP, highlighted the state government’s commitment to preventing a rise in property prices that would overburden Johor residents, making it difficult for them to access property in the state.

“Some incentives may be introduced. The Johor government will also discuss the construction of more affordable housing in the JS-SEZ areas with the local government and the Housing Ministry,” he said while stressing that any proposals regarding the JS-SEZ would give priority to locals.

Regarding the safety of fishermen at sea, Onn Hafiz said his recent meeting with fishermen’s associations discussed various initiatives and incentives from the state and federal governments.

“Their security must also be addressed through joint management dialogues with relevant ministries. 18 ministries are engaged in discussions to ensure that concerns raised by all parties are addressed,” he said.

In January, Prime Minister Datuk Seri Anwar Ibrahim and his Singaporean counterpart Lee Hsien Loong attended the signing ceremony of the Memorandum of Understanding on the JS-SEZ between Malaysia and Singapore. – Bernama