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Malaysia freezes approvals for luxury property projects

The Malaysian Cabinet has directed Dewan Bandaraya Kuala Lumpur (DBKL) to freeze approvals for 4 types of developments following a study by Bank Negara Malaysia (BNM) that raised the alarm on a glut in these buildings.

DBKL was instructed to cease considering and approving the development of shopping complexes, offices, serviced apartments and luxury condominiums priced over RM1 million in Kuala Lumpur, effective Nov 1.

– November 20, 2017

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