Country Heights Holdings Bhd is venturing into the medium-cost housing sector with the launch of its Pangsa Rakyat Sempurna scheme, its managing director Tan Sri Lee Kim Yew said.
“Our plan is to build the homes and then sell them fully furnished, complete with sporting facilities and landscaping.
“Focus is placed on a clean, homely environment to address basic necessities and to improve the quality of life of the lower income group,” he said after the launch of Exclusive Homes 2003 in Kuala Lumpur yesterday by Housing and Local Government Minister Datuk Seri Ong Ka Ting.
Lee said initially, 300 units of five-storey apartments of 650 sq ft would be offered for sale.
Buyers of the scheme would be able to enjoy the benefits of the Country Heights Innovation In Property Investment (CHIPI) scheme, he said.
“Buyers only need to pay RM8,800 upon the signing of the sales and purchase agreement and make monthly instalments of below RM600.
“At the end of 28 years, the apartments become theirs and they also get back the full purchase price of RM88,000,” he told reporters.
Lee, who pioneered CHIPI, a guaranteed cash return plan launched in 2001, was confident that the housing scheme would contribute towards the government’s home ownership campaign.
“This is part of our role as a good corporate citizen. By contributing towards building affordable homes in a nice environment, we can help to bring down the country’s poverty level,” he told StarBiz.
He said if successful, the project would be replicated throughout the country. Country Heights, he said, hoped to build at least 500 to 1,000 apartments in every state to meet the big demand for such homes.
“We are looking to work with the relevant suppliers to install furnishings, including computers and air conditioners.
“With this easy payment scheme, buyers have all their needs taken care of without the hassle of sourcing for financing,” Lee said.
In his speech, Ong said innovative marketing packages such as the one by Country Heights would help to spur greater interest in housing.
“The government’s economic package is most timely and developers should do their part to come out with more creative schemes during these trying times,” he said.
The Exclusive Homes exhibition to be held from Oct 16 to 19 at the Malaysia International Exhibition and Convention Centre at Mines Resort City, would be a showcase on affordable, innovative and value-added housing.