Positive outlook drives developer

Leong says with the announcement of Budget 2022 last month, this is an opportune time for Matrix Concepts to widen its financing offerings to homebuyers for its latest project.

THE real estate industry in Malaysia is showing encouraging signs of recovery.

Matrix Concepts Holdings Bhd chief executive officer Leong Jee Van said the property market was invigorated, especially with the tabling of Budget 2022 last month.

This was particularly due to the RM2bil Housing Credit Guarantee scheme for gig workers and small traders as well as the abolishment of Real Property Gains Tax (RPGT) after the sixth year of home ownership, he highlighted.

“The positive indications make it an opportune time to widen our financing offerings to housebuyers.”

To this end, Leong said Matrix Concepts was offering Maybank Islamic HouzKEY home ownership scheme in its Chambers Kuala Lumpur project.

“Our project is a freehold serviced apartments consisting of 509 units and HouzKEY home ownership is an alternative mortgage plan targeted at first and second-time homeowners.

“Its unique propositions, such as 100% financing with an initial five-year tenure on interest payment, a low interest rate of below 3% and no loan repayment during construction period, makes HouzKEY one of the most attractive financing schemes offered,” he said.

Matrix Concepts, he highlighted, would extend the HouzKEY home ownership scheme to its remaining Type C – 908sq ft units in Chambers at a monthly payment of RM1,810.

“Currently, our Chambers Kuala Lumpur project is about 75% complete with only the external infrastructure and internal finishing, which will be carried out accordingly.

The handover is expected to be in the third quarter of 2022.

“Most of the sizeable units in Chambers are partially furnished, so buyers need only spend a minimum amount on fittings and furniture before moving in, thereby saving time, money and effort,” he added.

“The unique selling points of Chambers,” said Leong “are its city-centric location and its proximity to the PWTC LRT and Putra KTM Komuter stations, which are some 200m and 750m away respectively, as well as Sunway Putra Mall, which is 350m away.

Citing Chambers’ mix of buyers and demographics as indicative of the potential growth of transit-oriented communities (TOC), he said urbanites were a discerning lot and weighed convenience heavily in their decision-making, which was why the majority of buyers were from the Klang Valley, followed by Negri Sembilan and Johor.

Meanwhile, the company’s Cheras project will be launched in the third quarter of next year.

The Cheras condominium concept will be more lifestyle-driven with emphasis on wellness and peace of mind.

As for the Puchong project, it will kick off in the fourth quarter of 2022, a high-rise condominium in Bandar Puchong Jaya and walking distance to the Pusat Bandar Puchong LRT station.

Leong also said the move to abolish the RPGT after the sixth year would revitalise the sub-sale property market.

“The RM2bil Housing Credit Guarantee scheme for those without steady income and documentation, especially gig workers and small-time traders, would be of great assistance to the B40 group in owning their first homes and even narrowing the economic disparity between the income bands,” he added.

Visit Chambers Sales Gallery on the ground floor of Hotel Lazdana, Jalan Putra, Kuala Lumpur from 10am to 6pm daily.

Alternatively, call Chambers’ sales representative at 012-7188 623 (Clemence) for appointments and to view the show units.

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real estate , recovery , property


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