PR1MA’s real estate value on Malay reserve land surges 10 times

PUTRAJAYA, 16 Ogos -- Perdana Menteri Datuk Seri Najib Tun Razak bersama Ketua Pegawai Eksekutif Perbadanan PR1MA Malaysia (PR1MA) Datuk Abdul Mutalib Alias pada sesi dialog bersama Rakan Bumiputera PR1MA di Pusat Konvensyen Antarabangsa Putrajaya (PICC) hari ini. --fotoBERNAMA (2017) HAK CIPTA TERPELIHARA

PUTRAJAYA: The real estate value of the 1Malaysia People’s Housing’s (PR1MA) projects built on the Malay reserve land has risen more than 10 times from RM1.2bil to RM13bil over the years, PR1MA Corp Malaysia chief executive officer Datuk Abdul Mutalib Alias said.

He said the surge in the real estate value from RM1.2bil before the development to RM13bil on its completion involved 61 PR1MA projects comprising 53,062 housing units nationwide.

With many more strategically located Malay reserve land available nationwide, he hoped PR1MA would be given the chance to develop them.

“This will not only increase its value but also create and stimulate economic activities, hence contributing towards empowering the bumiputra agenda,” he told reporters after attending a meeting between Datuk Seri Najib Tun Razak and PR1MA’s bumiputra partners in Putrajaya on Wednesday.

At the event, the Prime Minister announced that PR1MA has awarded contracts worth more than RM15bil to 574 bumiputra companies for various construction works, consultations and other support services for its projects nationwide.

Abdul Mutalib said that PR1MA was committed to providing equal opportunities to bumiputra companies through the Vendor Development Programme to enable them to grow in the real estate and construction sectors, thus contributing to the bumiputra empowerment agenda.

For construction-related contracts, he said PR1MA had given out contracts worth more than RM22.4bil to its business partners, comprising developers, contractors and vendors.

“The bumiputra portion of the construction works alone accounts for 62% or RM12bil of the contract value given out by PR1MA,” he said.

He said the PR1MA Corp had so far approved the development of 267,902 housing units nationwide, of which 139,393 units were currently in various stages of construction.

Meanwhile, 9,791 PR1MA housing units with total sales value of RM2.36bil have been sold so far, while 166,972 from over 1.47 million people who have registered with PR1MA have applied to purchase them, he added. - Bernama