Board’s first project in the pipeline

An artist’s impression of low medium-cost and affordable housing units to be built by Penang Housing Board in Bukit Gedung in Bayan Baru.

PENANG Housing Board will build its first affordable housing project in Bukit Gedung, Bayan Baru, and it is scheduled to be completed by 2025.

Penang housing committee chairman Jagdeep Singh Deo said the board, headed by Chief Minister Chow Kon Yeow, decided in a recent meeting that the project would comprise 1,267 low medium-cost and affordable housing units.

“In line with our aim to have more affordable housing for the people, the board is keen to move ahead smoothly with its first project.

“The development will be on a 3ha plot.”

Meanwhile, homebuyers will continue to benefit from the state’s housing ownership campaign (HOC) through a 10% reduction of maximum ceiling prices.

“The price ceiling for affordable housing is RM300,000 on the island and RM250,000 on the mainland.

“During the HOC period, we will assist buyers by reducing prices by 10% across the board,” said Jagdeep.

He said developers could now build more low medium-cost homes through a change in the guidelines, allowing them to build up to almost double their previous numbers.

“Developers in the past were allowed to build 120 units per acre for low medium-cost units.

“We have agreed to allow them to increase density with a higher plot ratio of 1:4, almost double the number they could build.

“This means we will get more housing units through better optimisation of land usage,” he said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Metro News

The value for every drop of water you consume
Bagging leads to extra plastic waste
More plastic waste at two recycling centres in Selangor
PJ Section 5 residents wonder about survey work
Johoreans laud move to ramp up vaccinations, want transparency
Slight increase in revenue collection
Make food baskets available to everyone, urges councillor
‘Support national athletes regardless of their results’
Four institutions get RM690,000 in aid
Second Malaysia Tech Month to feature industry titans

Stories You'll Enjoy