Property developers should be more open towards "disruptive technology" as a means to transform the sector and create more affordable housing in the country, Economic Affairs Minister Datuk Seri Azmin Ali said today.
The economic affairs minister pointed out the world is undergoing a technological revolution and the use of "disruptive technology" can be an important contributor to the nation's economy.
"The government must find a way how we can use these new disruptive technology such as artificial intelligence, Big Data analysis to transform the housing eco-system in Malaysia which is developing today.
"Therefore, developers in Malaysia should quickly adopt disruptive technology to begin transforming the housing sector as an answer to provide more affordable homes," he said in his speech during a ceremony to hand over the keys to the new owners of Simfoni Apartments by Eco World here.
He also said the government will always support housing developers, financial institutions, consumer groups, local authorities and other stakeholders to develop more affordable homes.
The Simfoni Apartments in Semenyih is an affordable housing scheme developed by Eco World under the "Rumah Selangorku" initiative launched three years ago by Azmin when he was Selangor mentri besar.
The three-block apartment itotals 870 units with three bedrooms and two bathrooms. Each unit measures 750 square feet costing RM100,000.
The "Rumah Selangorku" initiative was designed to develop more affordable housing in the country's most developed state.