CYBERJAYA – The Selangor State Development Corporation (PKNS) plans to create a housing foundation to help the less fortunate own a house, said its chief executive officer Datuk Mahmud Abbas.
He said the concept of the foundation is to cover part of the price of a house and the foundation would have 50% ownership of the house.
“For example, the price of a house is RM300,000 but you can get a bank loan of only RM150,000, so the foundation will help to cover RM150,000 and (PKNS) will have a 50% share of the house,” he told reporters after handing over keys to the owners of PKNS Residensi Idaman Selangorku units in Selangor Cyber Valley, here today.
He said the concept of the foundation was practised in England and that PKNS would send its staff there to enable them to learn the regulations of housing foundations.
“The relevant formulations and proposals are still at the PKNS-level before being presented to its board of directors, and once finalised, it will be forwarded to the Selangor government for the next course of action,” Mahmud said.
He added that the effort to establish such a foundation was not an easy task as it had to go through many processes, including legal matters, as well as ensuring that its funds were not misused by irresponsible parties.
“We need to look at what happens when, let’s say, the owner of the house wants to renovate the house, or if the owner intends to sell the house. We need to have the capital for the fund cycle to enable more people to own their dream home,” he said.
On Residensi Idaman Selangorku, Mahmud said it was a PKNS project to support the National Affordable Housing Policy aimed at resolving the issue of the people’s inability to own their own houses.
With an area of 1,000 square feet (92 square metres), each unit has three bedrooms, two bathrooms and two parking lots, and is offered at a price of RM232,000.
Mahmud said the project, which was developed with industrial building system technology, has 864 units, with four special units for disabled people, adding that all the units were sold out.
Rozieyati Azizahtul Asyikin Rozaini, 29, one of the house owners, when met expressed her gratitude in receiving her house keys from PKNS today.
“I can’t wait to move to Cyberjaya and to finally own a house. Currently, I live in a flat in Kg Baru, Kuala Lumpur and have to pay high rental costs.
“In the next few years, Cyberjaya will grow rapidly with all complete facilities. It is a strategic location for us as a family to build a life here,” she said. – Bernama, June 7, 2022
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