THE EFFICIENT URBAN GOVERNANCE IN MANAGING AND ENHANCING COMPETITIVENESS OF PROPERTY MARKETS IN KUALA LUMPUR CITYREGION (Keefisienan Governans Bandar dalam Mengurus dan Memperkasakan Daya Persaingan Pasaran Hartanah di Wilayah-Bandar Raya Kuala Lumpur)

Abstract

This article discusses on the preliminary study of efficient urban governance (EUG) towards
enhancing competitiveness of the property market with regards to the performances of the shopping
complexes and office sectors in the Kuala Lumpur city-region (KLCR). City-region competitiveness
is currently one of the major tasks in the country’s development agenda. The issue is more obvious
when the city-region acts as an engine of growth to help attaining a fully developed nation by 2020.
Bearing in mind that the urban governance is one of the key players to spearhead the city region
economy and the property market in particular, the roles of urban governance in managing and
enhancing the competitiveness of property markets is crucial. Nevertheless how well does the urban
governance enhance the efficiency of local authorities (LAs) in city-region is understudied. Another
aspect is the extent of the EUG initiaties to boost the property market within city-region. Based on a
study carried out in 2009 and the Kuala Lumpur City Plan 2020, and the National Property
Information Centre (NAPIC) 2009 act as the basis of discussion., this article discusses the
performances of the property market in city-region economy. The study found that the main challenge
of enhancing competitiveness of property sector in city-region is the implementation of efficient urban
governance by LAs. One crucial prequisite is the existence of urban governance that integrates all
sectors including public, private and other social organisations in participatory decision making. In
particular, EUG helps to speadhead the city region and property market as the principles of
sustainability, subsidiarity, equity, transparency and accountability, civic engagement and citizenship

and security are secured and in practiced.