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PETALING JAYA: Prime Minister Anwar Ibrahim has strongly criticised the current focus on extravagant mega-projects in Malaysia, advocating for a significant shift towards prioritising affordable housing initiatives. In a recent address, Anwar underscored the importance of ensuring that all large-scale developments not only contribute to the nation's economic growth but also genuinely benefit the people and reflect the country's unique cultural identity.

“We must move away from this obsession with luxury projects that cater to a select few,” Anwar stated. “The focus should be on providing accessible and affordable housing for Malaysians across all income levels.” He highlighted the pressing need to address the housing affordability crisis, particularly for young families and low-income earners.

Beyond affordability, Anwar stressed the crucial role of incorporating local culture, civilisation, and cutting-edge technology into all major projects. He believes that such integration is essential for creating developments that are truly reflective of Malaysia's heritage and capable of competing on a global scale. “These projects should be a source of national pride, showcasing our unique identity and embracing innovation,” he added.

The Prime Minister’s remarks come amidst growing concerns about the rising cost of living and the widening gap between the rich and the poor. Critics have pointed out that the proliferation of luxury condominiums and high-end commercial developments has exacerbated the housing shortage and pushed property prices beyond the reach of many ordinary Malaysians.

Anwar's call for a change in direction signals a potential policy shift towards greater social responsibility in the real estate sector. It is expected that the government will implement measures to encourage developers to prioritize affordable housing projects and to ensure that all new developments align with the nation's cultural and technological aspirations.

The Prime Minister further emphasized that the utilisation of new technology is paramount. He stated that projects must leverage advancements in construction, sustainable materials, and smart city solutions to create efficient, eco-friendly, and resilient communities.

This shift in focus is not merely about providing homes; it's about building vibrant, inclusive communities that foster a sense of belonging and contribute to the overall well-being of the nation. Anwar’s vision is for Malaysia to be a country where everyone has access to quality, affordable housing and where development is driven by a commitment to social progress and national pride. The government is expected to announce specific initiatives and incentives in the coming months to support this agenda.

Analysts predict that Anwar's stance will have a significant impact on the real estate landscape, potentially leading to a surge in demand for affordable housing and a decline in investment in luxury properties. The long-term benefits, however, are expected to outweigh any short-term adjustments, as the nation moves towards a more equitable and sustainable development model.