BUTTERWORTH – The Penang Development Corporation (PDC) will meet its commitments as a strategic developer for affordable housing projects in the state despite challenges ushered by Covid-19, said chief minister Chow Kon Yeow today.
He said although the pandemic has caused hardship to developers with the movement control order (MCO) and various other delays, Chow said PDC has completed most of its projects on schedule.
Chow, who is PDC’s chairman, said this at a virtual ceremony symbolically handing over keys to several tenants of the newly completed high-rise Jiran Residensi affordable housing scheme at Kg Jawa here.
He said that the state hopes to use PDC, which he described as an economic catalyst agency, to stimulate various sectors of the economy, including real estate.
Based on its track record, PDC has completed 1,921 units of affordable housing with 535 units still under construction, while another 14,896 units are at the planning permission stage.
PDC is also planning to soon begin construction of its Cecil Residensi, which offers 348 units on the island.
The RM126 million Jiran Residensi project here obtained its certificate of fitness on January 26.
Funding was derived from the state’s affordable housing revolving fund, which has now reached RM500 million.
The project’s Tower A has 35 floors with 354 units costing RM250,000 to RM275,000 per unit, while Tower B has 25 floors with 353 units.
Meanwhile, state housing committee chairman Jagdeep Singh Deo said in a Facebook Live interview with the media here that the launch of the project shows the state’s commitment to meet the housing needs of the people in Penang .
Jagdeep said the state had postponed the handover of keys to the new residents due to the pandemic.
“However, we don’t want to postpone the event anymore as we do not see the pandemic being resolved soon and wanted to go ahead with the handing over of keys to the house buyers as they have been waiting for too long,” he said.
He said Jiran Residensi was launched in 2014 and completed at the end of last year. – The Vibes, February 4, 2021
Additional reporting by Arulldas Sinnappan
