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KUALA LUMPUR: Perbadanan PR1MA Malaysia (PR1MA) plans to launch affordable quality homes in Sabah with a gross development value (GDV) of RM7.5bil.
It said on Friday the PR1MA Members of Corporation (MOC) had approved the housing projects which will be below the current market prices to be built in Sabah.
This makes Sabah the state with the second highest number of PR1MA projects approved for development.
PR1MA is showcasing its 27 projects all over Malaysia, with 30,155 units during the five-day in Sabah from Thursday to Monday.
“Close to 16,000 units offered by PR1MA at the expo are priced below RM300,000, much lower than the average price of RM400,000, based on properties launched in 2017 by private developers in the west coast of Sabah,” it said.
This pricing of the housing units was based on the latest Property Development Report 2017 by Sabah Housing and Real Estate Developers Association (SHAREDA).
Commenting on the expo, PR1MA chief executive Datuk Abdul Mutalib Alias said this was the first time the agency was organising such an event of this scale in Sabah, bringing together housing agencies at both Federal and State levels.
He said through the expo, PR1MA aims to showcase the range of houses the government is offering as well as to educate Sabahans on first-time homeownership, including those in the middle- income (M40) group, who aspire to own their own homes.
A total of 12 PR1MA developments in Sabah, comprising more than 12,000 units, covering both high-rise and landed units are showcased at the expo including PR1MA projects in Borneo Cove, Kota Marudu, Menggatal, Sandakan City Centre and Ranggu.
PR1MA encourages buyers to take advantage of its special end-financing scheme, Skim Pembiayaan Fleksibel (SPEF), which is available for home buyers to access a higher loan amount with monthly home loan instalments that are at affordable rates.
SPEF was introduced in 2017 to increase homebuyers’ chances, particularly first-time buyers, of obtaining a home loan by providing access to a higher loan amount than they would otherwise be eligible for with a conventional loan.
The expo will continue its nationwide tour, with its next major stop in PWTC, Kuala Lumpur, where the expo will be held from March 24 to April 1, 2018.
PR1MA will also open the agency’s first sales office in Sabah at the Aeropod, Kota Kinabalu in August this year. It will be the central hub in planning, developing and maintaining PR1MA’s Sabah-wide projects.
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