A total of 80,000 affordable homes will be built in the Klang Valley and Federal Territory, as part of the Government’s wealth creation programme for the people.
Prime Minister Datuk Seri Najib Tun Razak said 1Malaysia People’s Housing (PR1MA) homebuyers would be able to make immediate profits, as the houses would be sold for at least 20% below market value.
“Such wealth creation is rare. Prices of vehicles depreciate immediately after purchase, but PR1MA homebuyers can expect to make immediate profit, on paper, of between 20% and 30%,” he said when launching the PR1MA Alam Damai project in Bandar Tun Razak.
The project, by Transgreen Structure Sdn Bhd, in collaboration with PR1MA, comprises four types of 2,078 affordable homes on a 6ha parcel of land.
It is strategically located with access to the Middle Ring Road 2 (MRR2) and three MRT (Mass Rail Transit) stations proposed in Cheras.
Najib said the price of the units in Alam Damai would be announced after the local authority had issued the development order.
“But I guarantee that the prices will be at least 20% lower than market rates. If possible, we want it to be even lower than that,” he added.
The Government has so far announced 20,000 PR1MA homes in Kuala Lumpur, 8,000 in Putrajaya, and 2,000 in Labuan.
“In view of the high demand and high cost of living, we plan to build another 50,000 PR1MA units in the Klang Valley, bringing the total to 80,000 units,” he told the cheering crowd.
The Alam Damai project is the first development to take place from PR1MA’s plans to build 50,000 homes across strategic locations in the Klang Valley, including Cheras, Bukit Jalil, Sungai Besi, Brickfields, Jelatek, Glenmarie, Putra Heights, Cyberjaya and Setapak.
Titijaya, Glomac, Ekovest and Cyberview are among the developers that had pledged support to PR1MA to build affordable homes in these areas.
Malaysians aged above 21, earning between RM2,500 and RM7,000 a month and do not own not more than one home can apply for PR1MA units.
Earlier, Najib also hinted that the general election was drawing near.
Stressing that the Barisan Nasional government took pride in delivering promises, Najib said the time to show appreciation would be arriving soon.