kuala lumpur: Malaysia is developing a super app that will give potential homeowners and buyers access to data on developers and projects, with the aim of increasing ease of doing business and reducing property overstock, Housing and Local Government Minister Nga Koh Min said.
The system utilizing big data analytics is expected to be launched by 2025 at the latest.
“This will improve the ease of doing business and help potential homeowners make more accurate decisions. This is also why it will help reduce property overstock,” Nga said at a press conference after his speech at Archidex 2024 today.
He said developers can use this big data analysis to conduct feasibility studies.
“I want to see all abandoned projects gone. With big data analytics, developers can refer to it and accurately determine whether a location is suitable for a house, condominium or service apartment. That way, they won’t build terraced houses in areas that are suitable for service apartments.”
With this super app, potential homeowners can access big data analytics to see the track record of developers, details about the project, whether there is a risk of flooding, etc. They can also compare prices and other factors.
Nga said currently there is no integrated system of all data in the country. “We are going through a digital transformation to ensure that all data is under one system and all data can be seen, whether it pertains to architects, developers or other stakeholders.”
Expressing his ministry’s determination to implement data-driven policies, the minister said, “I am a leader who believes in science. For me, data is gold.”
The construction business event “Archidex” will be held concurrently with the “ASEAN-China Construction and Housing Ministerial Roundtable 2024”, hosted by the Ministry of Local Government Development.
The roundtable, themed “Building a Sustainable Future: Deepening ASEAN-China Cooperation in Housing and Urban Development for Shared Prosperity,” will bring together ministers from ASEAN member states and China to discuss regional growth issues and explore opportunities to revitalize the Belt and Road Initiative.
Organisers said the event marks the 50th anniversary of diplomatic ties between Malaysia and China and celebrates the tradition of diplomatic relations, highlighting the intrinsic link between diplomacy and the current and future growth of nations.
He added that the event will also serve as a means to stimulate the city’s economic and cultural regeneration, especially in housing and construction, and promote common prosperity and development.
Organizers said this marks the first time that corporate events have jointly hosted a national summit, leveraging government and diplomatic relationships to connect countries with businesses and industries.
