Developers in Penang who want to build affordable homes have been promised “good news” in the form of a review of housing guidelines.
State housing, town and country planning committee chairman Jagdeep Singh Deo said Penang was reviewing the guidelines, particularly for affordable housing.
He said the two main housing concerns were affordability and access to loans, and gave assurance that Penang would continue efforts to ensure adequate affordable housing units.
Jagdeep said this in his speech at the Real Estate and Housing Developers’ Association Malaysia (Rehda) Penang’s Chinese New Year Gathering with Children from Homes.
A total of 31 kids from the House of Hope and Children’s Protection Society joined the party at a hotel.
Rehda Penang chairman Datuk Toh Chin Leong said the association hoped the Local Government and Housing Ministry would design a stimulus package for developers facing challenges in finding buyers who qualifiy for loans.
He said 4,890 units registered with Rehda Penang were sold during the Home Ownership Campaign 2019 (HOC 2019).
“The sold units amounted to RM3.1bil in sales.
“But there were 16,796 units registered with Rehda Penang for HOC 2019, amounting to a total value of RM15.2bil, ” he said.
Chief Minister Chow Kon Yeow, who was guest of honour at the gathering, revealed that Penang had recorded the most total approved manufacturing investments in 50 years.
“Penang attracted RM13.3bil of total approved manufacturing investments from January to September (third quarter) last year, ” he said in his speech.
“The final figure (for the whole year) has not been announced.
“I have the figure but it is embargoed, pending the announcement by the ministry and the Malaysian Investment Development Authority.
“The investment figure shows the high level of investors’ confidence in Penang.
“It is possible that all of us here are part of the reason investors continue to have faith in this small state.”
The gathering’s organising chairman Datuk David Fong said the event was a great opportunity to give needy kids a treat.
“We wish everyone good health and business success for the year.
“Though our lives may not be trouble-free, we are grateful to enjoy growth.
“We would not have come this far without the support of our members.
“We have been running our corporate social responsibility programmes as we wish to build a relationship with the community, ” he said.
Did you find this article insightful?