ISKANDAR PUTERI: Johoreans have the option to own residential and commercial properties under the newly launched Rent-to-Own (RTO) scheme where they can buy the properties after five years of renting.
Mentri Besar Datuk Seri Mohamed Khaled Nordin said in the offing would be 5,279 residential and commercial units to be built in five phases through the state-linked company Kumpulan Prasarana Rakyat Johor (KPRJ) with 409 units for phase one.
“The best part is that 50% of the accumulated rent over the five years would be used as down payment to buy the unit,” he said at the launch of the scheme in conjunction with Ekspo Johor Berkemajuan 2017 in Kota Iskandar on Friday.
Khaled added that those eligible for the RTO scheme would have to rent the units from between RM260 and RM600 monthly, depending on the price of the houses.
Khaled also said some RM20mil was allocated from the state budget this year to purchase existing properties for the scheme.
“We will continue allocating the sum yearly to purchase more units for the benefit of Johoreans,” he said, adding that KPRJ was identifying more properties for the scheme.
He said some of the apartments that have been identified are located at Larkin, Bandar Baru Uda, Taman Molek, Bukit Saujana, Desa Paya Mengkuang and Gelang Patah.
Those interested to apply for the scheme could do so at the KPRJ office, as the state-owned company would serve as the facilitator and administrator of the scheme.
During the launch, Khaled also witnessed the exchanging of a memorandum of understanding between KPRJ and TNB Energy Services (TNBES) to collaborate in the implementation of renewable energy and energy efficiency through the state’s Energy Performance Contract.