Redefining urban housing development

  • Business
  • Monday, 02 Apr 2018

KUALA LUMPUR: Perbadanan PR1MA Malaysia (PR1MA) is upbeat that its proposed transit-oriented housing projects will be a game changer in transforming urban public housing development.

The first phase of PR1MA transport-oriented developments are scheduled to start in the fourth quarter of this year. It will involve locations along the LRT line network, namely Cempaka and Pandan Jaya, to be followed by Pandan Indah.

These developments will have an estimated gross development value (GDV) of over RM1bil, according to a press release.

PR1MA, to date, has been granted land in a total of eight locations along the LRT network using this transport-related model.

The other six locations are Pandan Indah, Titiwangsa, Sentul New Town, Jelatek, Kinrara and Bandar Puteri.

PR1MA chief executive officer Datuk Abdul Mutalib Alias (pic) said such developments typically catered to the higher income groups but PR1MA will use this approach to ensure that the M40 income group can also benefit from the shorter commute, lower personal transportation costs and easy access to daily needs.

“This will help to reduce the cost of living.

“This will also increase the people’s happiness level,” he said.

Malaysians are categorised into three income groups, the Top 20% (T20), Middle 40% (M40) and Bottom 40% (B40).

He said such developments model are popular in major cities such as Hong Kong, Tokyo, Singapore and Washington. They help to maximise land use in urban or sub-urban areas and encourage public transport usage. He said the PR1MA model would adopt a more inclusive and integrated approach catering to various income groups.

“It will emphasise soci al integration and social inclusivity,” the release said.

A transport-oriented project located close to the workplace, school, healthcare, education and commercial centres and public transport networks will increase the mobility and productivity of the community living in these areas.

“We see PR1MA as an agency that delivers more than just bricks and mortar.

“PR1MA homes would be the foundation for strong, integrated and harmonious communities while at the same time ensuring that PR1MA itself is sustainable from a financial and economic stand point,” said Abdul Mutalib at the closing ceremony of a housing sales expo yesterday.

According to Bank Negara’s 2017 Annual Report, only 25% of residential properties were in the affordable range, suggesting that there is a dire shortage of affordable homes. Without the Government’s intervention, this shortage will be even more acute, the press release said.

Separately, 920 house buyers balloted for a high-rise residential project PR1MA@Brickfields. It attracted a total of 18,088 applicants, representing an oversubscription rate of 19.7 times. It replicated the success of PR1MA’s maiden project within Kuala Lumpur, PR1MA@Jalan Jubilee, which was oversubscribed by 27 times, which underscores the dire shortage of affordably priced housing in key locations.

PR1MA@Brickfileds will be built on a 6.37-acre site with an estimated GDV of more than RM400mil. The project is scheduled for completion by 2021 and is priced from RM270,000 per unit. It will have facilities such as surau, kindergarten/nursery, community hall, swimming pool, gym and shop. Lembah Pantai Barisan Nasional division chief Datuk Raja Nong Chik Raja Zainal Abidin lauded the move as more house buyers from the M40 group can now own a property in a prime real estate location, in line with the Government’s Bumiputera Agenda to increase home ownership among bumiputeras.

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