KL relaxes property rules

KL relaxes property rules

KUALA LUMPUR (AFP): Malaysia's Acting Prime Minister Anwar
Ibrahim said yesterday the government would rules over property
buyers to allow foreign investors to purchase office and shopping
complexes.

"I have asked the foreign investment committee to give more
flexibility to allow foreigners to buy properties including
condominiums within the city limits," he told reporters here.

"Any proposals forwarded by foreigners will be considered
immediately," he said, adding that all of the country's state
governments would soon meet to discuss and draw-up uniform
guidelines.

Anwar, who is also finance minister, said property developers
had complained that the committee's restrictions were inhibiting
the natural growth of the property sector.