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In a U-turn, Malaysia now says freeze on luxury development approvals not absolute

Mimi Sabreena 4:42:00 PM Informasi

KUALA LUMPUR (Nov 20): In an apparent U-turn over a freeze on approvals for luxury property developments, Putrajaya on Monday (Nov 20) said the green light for such projects will still be given but on a case-by-case basis.

Works Minister Datuk Fadillah Yusof said although the decision was taken by the Cabinet following a recent report by Malaysia’s central bank on an oversupply of high-end properties, the freeze does not involve all projects.

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