PR1MA sites located
Tags: 1Malaysia Housing Programme , 1MDB , Bandar Tun Razak , Cheras , Cyberview Sdn Bhd , IBS , industrial building system , Klang Valley , LRT , MRT , My First Home Scheme , Najib Razak , Nor Mohamed Yaacob , PJH , PR1MA , Program Perumahan 1Malaysia , Putrajaya , Putrajaya Holdings Bhd , Raja Nong Chik , S P Setia Bhd , Seremban , Sime Darby Property , Tradewinds Corp Bhd
By Siti Sakinah Abdul Latif of theedgeproperty.com
Monday, 04 July 2011 16:45
PUTRAJAYA: As many as 20 sites involving 825 acres of land have been identified across Klang Valley and Seremban to date for the development of an estimated 42,078 homes under the 1Malaysia Housing Programme or Program Perumahan 1Malaysia (PR1MA).
Launched on Monday, July 4 by Prime Minister Datuk Seri Najib Razak, PR1MA aims to make home ownership more affordable for middle income Malaysians. Under PR1MA, homes at prices between RM150,000 to RM300,000 will be developed in urban and suburban areas across the country beginning with the Klang Valley where demand for middle cost homes are high
A 7.6-acre site in Precinct 11, Putrajaya has been chosen for the first PR1MA development which will be undertaken by Putrajaya Holdings Bhd (PjH). Other developers involved in PR1MA developments are Cyberview Sdn Bhd, Sime Darby Property, 1MDB, Malaysian Resources Corporation Bhd, S P Setia Bhd and Tradewinds Corp Bhd. S P Setia and Tradewinds Corp will jointly develop 10 acres of land in Bandar Tun Razak, Cheras.
The project in Putrajaya will provide 560 apartment units ranging between 1,006 sq ft to 815 sq ft. The project will also comprise a multi-purpose hall, kindergarden and retail units, Najib said. Besides Precinct 11, there will be a total of 5,284 homes built across Putrajaya in five years, he added.
He said about 13 PR1MA projects offering 13,155 units of homes are to be launched between 2011 to 2015."These homes are planned to be close to public transportation such as the LRT and MRT. This is to help the rakyat lessen their transport expenses and help them increase their disposable income," he said in his speech.
In March this year, the federal government had launched the My First Home Scheme for individuals before 35 years old with a monthly income of not more then RM3,000 for homes priced between RM100,000 to RM220,000. "The government is considerate about the dilemma faced by the middle income group that could not afford homes that are highly priced but at the same time are not eligible for low-cost housing," he said.
He said that PR1MA is designed for those with a monthly income of not more then RM6,000. Homes under the programme has to adhere to certain guidelines. For instance, the size of each unit must be between 800 sq ft to 1,400 sq ft with at least three bedrooms and two bathrooms. Buyers must be first-time home homebuyers and must occupy the homes after they have bought them and cannot sell the units for at least 10 years. "Those applying can get a loan of up to 105% from selected financial institutions with a pay back period of 30 years," he said, adding that the additional 5% is for insurance and legal fees the sales and purchase agreement.
A dedicated unit would be set up under the Prime Minister's Department to plan and coordinate the PR1MA programme, adding that in order to avoid speculation.
PR1MA, said Najib, will be implemented as a private-public initiative with the government prepared to provide land and funds to ensure houses are offered at the price the government has set.
He noted that the use of the Industrial Building System (IBS) and green technologies are encouraged in the development of PR1MA homes.
(from left): Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yaacob, Najib and Minister of Federal Territories and Urban Well-being Datuk Raja Nong Chik Raja Zainal Abidin at the launching of PR1MA. Photo: Suhaimi Yusof of The Edge Malaysia
1Malaysia Housing Programme or Program Perumahan 1