PENANG will announce a stimulus package to soften the economic impact on construction development and home ownership.
State housing, local government, town and country planning committee chairman Jagdeep Singh Deo said the package dubbed Housing Ownership Campaign Package would be announced next week.
“Firstly, it is to assist home buyers especially those intending to buy affordable units.
“Secondly, we need to ensure the goal of building 180,000 affordable homes by 2030 is achieved,” he told reporters.
Jagdeep added that the state government had discussed the matter with various agencies and stakeholders including Real Estate and Housing Developers’ Association (Rehda).
“We will review our existing guidelines with the aim of offering incentives to developers,” said Jagdeep.
On the progress of the state’s 2030 aspiration, Jagdeep said 105,719 affordable homes had been built or are currently being built in various stages.
Earlier, he visited the Dua Residensi affordable home project by Penang Development Corporation (PDC) in Teluk Kumbar.
The project is set to obtain its Certificate of Completion and Compliance next month.
PDC Housing Development Department senior manager Radzuan Ahmad said half of the units at Dua Residensi are still available.
“There are 694 units in total and 342 are still available.
“Interested buyers can contact PDC or the state Housing Department,” he said.
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