MK Land to continue focus on affordable homes

KUALA LUMPUR (Dec 19, 2012): MK Land Holdings Bhd will continue to focus on building affordable homes including in high-end residential areas, to help low-income earners own houses, its founder and chairman Tan Sri Mustapha Kamal Abu Bakar said.

The property developer plans to build 3,000 affordable homes in Cyberjaya, Selangor next year, an area where almost all developers want to build only high-end houses.

"From now till 2016, a staggering RM20 billion will be invested by 16 housing developers in Cyberjaya, but most of the houses to be built will be high-end units, not like us," he told Bernama after delivering a talk entitled "Empowering Youth for Nation-Building - What it means?" at Wisma Bernama today.

"MK Land's plan to continue building affordable homes is in line with the government's intention through the 1Malaysia People's Housing Programme (PR1MA) to help the people own houses, particularly in the Klang Valley."

Mustapha Kamal said his company is also prepared to cooperate and share its experience with the government to undertake people-friendly housing schemes.

He said his involvement in building affordable homes for more than 30 years to the extent of being known as "King of Low-Cost" in the housing industry was something he was proud of.

"MK Land is an affordable home developer whose experience we are prepared to share with the government to build similar houses for the people," he said.

Currently, MK Land has a 2,400ha landbank in the country worth RM5 billion.

"However, we don't have the capacity to develop the entire landbank. So, MK Land intends to sell 2,000ha to get the cashflow to undertake future projects.

"At the moment, our projects are mainly concentrated on a 400ha site in Cyberjaya to develop the area into Malaysia's first multimedia corridor hub," he added. – Bernama