Maimunah (centre) and Ho (right) pouring in coloured liquid which blended into one colour to signify the unifying of communities within properties. Looking on is Chan (left).

By the year 2040, Kuala Lumpur will require 783,333 housing units to ensure that every household has the opportunity to own a home. This target reflects the city's ambition to meet the growing demands of its population while ensuring sustainable and inclusive urban development. Currently, affordable housing represents a mere fraction of the total housing stock, with only 40,022 units available as of 2020. This figure highlights the critical need to significantly expand affordable housing options, particularly for the lowest 40% of households, known as the B40 group.

The goal is to increase affordable housing to 40% of all housing in Kuala Lumpur, a significant leap that will help reduce the housing ownership gap. By focusing on this segment, the city aims to provide equitable opportunities for homeownership and ensure that the most vulnerable groups are not left behind in the race for urban development.

Sustainable urban development is a key priority for Kuala Lumpur and the housing sector plays a pivotal role in realising this vision. To build a city that is both livable and resilient, Kuala Lumpur must balance rapid urbanisation with environmental sustainability and social inclusivity. Housing, as a core component of urban infrastructure, is essential to this equation.

The city is working closely with developers, financial institutions,  and government agencies to ensure that Kuala Lumpur grows as a sustainable, smart and resilient metropolis. By aligning with international best practices and the national development agenda, Kuala Lumpur is positioning itself as a leader in eco-friendly, energy-efficient urban living. This approach not only supports the environment but also enhances the quality of life for residents by creating more vibrant, green and connected communities.

Future needs

Kuala Lumpur mayor Datuk Seri Maimunah Mohd Sharif has been at the forefront of these efforts. Speaking on the city's housing challenges and aspirations at the recently concluded Malaysia Property Expo (MAPEX), she noted: "As the Mayor of Kuala Lumpur, I am deeply invested in the future of our city’s housing landscape. Urban planning and development are key areas that influence the lives of our residents and the role of exhibitions like MAPEX is crucial in advancing the housing agenda for our city and nation. The government continues to encourage homeownership, particularly for the middle and lower-income groups, through various initiatives.”

Maimunah emphasised that a city’s growth is closely tied to the availability and quality of its housing. As a diverse and dynamic city, Kuala Lumpur must offer a range of housing solutions that cater to its varied population. From affordable housing for young professionals to modern, sustainable living spaces for growing families, Kuala Lumpur’s housing strategy must reflect the city’s diversity.

“We are committed to policies that foster affordable, sustainable and inclusive housing,” she said. “Kuala Lumpur’s development must be both people-centered and future-focused. Our goal is to create a city that offers equitable housing options for the urban poor, middle-class families and first-time homebuyers.”

Inclusive housing solutions

One of Kuala Lumpur’s primary goals is to ensure that housing is accessible to all segments of society. This includes not only the B40 group but also senior citizens, young families and even expatriates and other vulnerable groups. The housing landscape must be diverse, offering different types of homes with varying facilities, sizes and locations to meet the specific needs of each group.

For Kuala Lumpur to achieve its 2040 housing targets, collaboration across sectors is essential. The city’s partnerships with private developers, financial institutions and government agencies play a crucial role in shaping its housing strategy. The MAPEX is one such platform that brings these stakeholders together.

MAPEX: A platform for progress

Organised by the Real Estate and Housing Developers’ Association (Rehda), MAPEX is a key event in Malaysia’s property sector. The second installment of MAPEX 2024, held at the Mid Valley Exhibition Centre (MVEC) from October 25 to 27, serves as a one-stop center for developers to showcase their housing projects and for potential homeowners to explore a wide range of options.

Rehda president Datuk Ho Hon Sang highlighted the importance of MAPEX in the property landscape, stating, “MAPEX has been part of REHDA’s repertoire of annual events for almost three decades now, beginning in 1998. With the support of participating developers, we have grown leaps and bounds, to become the biggest property expo in Malaysia.”

The expo features 30 of Malaysia’s top developers, along with financial institutions and government agencies, all offering housing solutions that cater to current market demands while anticipating future challenges.

MAPEX committee chairman Datuk Chan Kin Meng underscored the forward-thinking nature of the event: “Together, we are building a resilient and forward-thinking industry that continues to innovate and adapt. We are excited to welcome our visitors — to explore the diverse range of housing options on offer, and to discover the future of real estate in Malaysia.”

MAPEX is not only a showcase for residential projects but also an opportunity for potential buyers to engage with industry experts. The event features 10 Property Talks on various aspects of the property market, including strata living and property investment, which are set to take place on the final day of the event.

A commitment to sustainable growth

As Kuala Lumpur moves toward its 2040 housing goals, the city’s commitment to sustainable, inclusive and people-centered development remains unwavering. Initiatives like MAPEX and ongoing partnerships between government and industry stakeholders are crucial in driving the city’s progress. By focusing on affordable housing, sustainability and innovation, Kuala Lumpur is laying the foundation for a future where every resident has access to a home and a city that prioritises the well-being of its people.

In the words of Maimunah: "Whether it’s affordable housing for young professionals or sustainable living spaces for families, it is our responsibility to ensure that Kuala Lumpur remains a place for everyone—a City for All."

Stay ahead of the crowd and enjoy fresh insights on real estate, property development, and lifestyle trends when you subscribe to our newsletter and follow us on social media.