KUALA LUMPUR, May 19 — The government believes that research projects to be carried out following the award of the National Real Estate Research Coordinator (Naprec) grants have the potential to contribute to the nation’s property landscape development.
Deputy Finance Minister I Datuk Seri Ahmad Maslan said the results of the research would provide valuable views, innovative solutions and practical proposals that would shape the future of the country’s real estate industry.
“I imagine in the future, research will become part of the important elements in the property market ecosystem, whereby decisions are made based on evidence and strategies formulated according to the data to drive the development of a MADANI nation,” he said in his address at the Naprec mock cheque presentation for 15 new research projects, earlier today.
Hence, Ahmad recommends that all researchers cooperate with industry experts and related stakeholders to inculcate a rigorous research community.
“Sharing research outcomes, exchanging ideas and building networking will not only increase the quality of research but will also pave the way for collective progress and cooperation in achieving the same objective,” he said.
As a sign of support for the country’s property research, Ahmad said his ministry is always committed to providing supporting resources with funding allocation, grants and mechanisms to ensure that the studies carried out would make a lasting impact.
Since the establishment of Naprec in 2002, 11 research projects had been sponsored using funds allocated under the Eighth Malaysia Plan (8MP) totalling RM3.3 million.
For 12MP, a total of RM4 million Naprec funds have been approved. Meanwhile, 24 projects had been fully completed under phase 1 of 2023. For phase 2, 15 new projects were selected out of 85 applications received. These projects are expected to be completed in 2024.
Up to the 12MP, Naprec has funded 143 property-related research projects with a total funding allocation of almost RM20 million.
The National Institute of Valuation (INSPEN), Valuation and Property Services Department as the national coordinator in property research acts as the coordinator and manager of Naprec funds.
— Bernama
