Despite some measure of criticism thrown in its direction, PR1MA Corp Malaysia announced that as at September 2017, more than 259,880 units under the 1Malaysia People’s Housing (PR1MA) programme have been approved for construction nationwide.
Of these, 141,661 units are currently in various stages of development, said PR1MA Corp Malaysia chief executive officer Datuk Abdul Mutalib Alias.
He added that 8,475 PR1MA units have been completed with 934 keys handed over to respective house owners.
According to PR1MA, 11,944 units (worth RM3 billion) have been purchased, while more than 1.5 million Malaysians have registered with PR1MA and 166,972 have applied to buy homes under the scheme.
Abdul Mutalib said most of the PR1MA housing development projects are in Selangor, amounting to 19% of the total volume or 48,419 units. This is because many choose to reside in the state as it is an important economic centre, offering ample employment opportunities.
“PR1MA is committed to its efforts in providing the necessary housing for them,” he recently told national news agency Bernama.
To qualify for PR1MA housing, applicants must be Malaysian with a household income of between RM2,500 and RM15,000. Applicants can be single or married, but aged 21 or above and must not already possess more than one property.
The PR1MA programme was launched by the government in 2011. It is entrusted with building 500,000 units of affordable homes at between RM100,000 and RM400,000. Under the directive, 70% of the units are to be high-rise apartments, while the rest will be made up of mixed developments as well as single-storey terraces and double-storey bungalows.
PR1MA houses are also priced 20% to 30% lower than the market value. According to earlier reported targets, some 17,000 units were planned to be completed this year, while another 35,000 units will be completed in 2018.
Abdul Mutalib said that the key hope is that PR1MA would become a catalyst that encourages more private developers to building housing units for this segment of the market.
Currently, demand is high for this segment but the supply of affordable options remains scarse.