Top-tier Malaysian property developers are leading Australia’s largest urban renewal projects, while Malaysia is still debating the crucial Urban Renewal Act (URA) amid deteriorating low-cost housing, said Housing and Local Government Minister Nga Kor Ming.

Set to be tabled in Parliament in July, the URA has sparked heated debates among property developers and homeowners, with key concerns revolving around the percentage of bumiputera ownership and the “en bloc” sale of entire strata developments, which has raised fears of potential displacement, particularly among lower-income house owners.