THE HOUSING and Local Government Ministry has turned around the affordable property sector by reviving 24 stricken housing projects which would be completed by year end.
This coincides with the recovery of the property sector, and a big plus point for the economy because it stimulates growth in up to 200 supporting industries, said Minister Nga Kor Ming.
Nga pointed out that PR1MA has become a top public affordable housing developer now.
It has shown the resilience and track record to revive 24 projects by injecting around 84,000 of medium cost homes into the real estate market nationwide.
"PR1MA has also exceeded its key performance indices by attaining RM200 billion in sales of affordable homes by June this year.
“It is a 100% fold increase as the agency had originally set a target of RM100 billion for this year," Ng said after launching another reputable affordable housing scheme in Kampung Kastam near Island Glades by the Ideal Property Group in Penang.
Present were state executive councillor in charge of housing Datuk Seri S. Sundarajoo and Ideal Group's chairman Tan Sri Alex Ooi Kee Liang.
The 24 projects are located in Kedah, Melaka and Negeri Sembilan.
Nga also disclosed that the ministry may emulate the Johor government's move to ensure that affordable home buyers settle their maintenance fees at strata title schemes promptly by imposing access cards for them to enter their properties.
"If they do not pay their maintenance dues, they will not be able to enter their homes," said Nga, adding that such a move may be needed in view of many buyers' reluctance to pay their maintenance dues at these affordable high rise projects.
He paid tribute to Ideal Group for completing their affordable project under PR1MA six months ahead of schedule.
It is called Ideal Residency off Island Glades, where 1,200 medium cost units - priced at RM300,000 each, are now ready for occupation.
"All are sold out and there are another 1,600 units of higher affordable category which Ideal will also be undertaking in the same area," said Nga.
He also announced that the rebranding of community housing into a world - class affordable housing scheme called People's Residence Programme would be launched soon.
Penang will also have a mini PR1MA eco - park housing scheme soon with Ng expected to make the details public soon. - October 5, 2024.
