(From left) Santhanaraj, Caroline, Aida Yasmin and Mohammad Fakruf are all set to move into Ideal Venice Residency in Gelugor. — CHAN BOON KAI/The Star
ENGINEER Mohammad Fakruf Aiman Abdul Ghani and his wife, Aida Yasmin Ahmad Azmi, a bank employee, are glad that their loan application for an affordable housing unit in Penang was approved without much hassle.
“We are first-time buyers and even with our combined incomes, we were apprehensive as to whether our loan would be approved.
“However, we were pleasantly surprised when we received approval for a 90% loan from the bank in less than two weeks,” said Mohammad Fakruf.
The Penangites who have been married for five years are looking forward to moving into their own home.
Mohammad Fakruf added: “I hope the government will create more affordable housing projects, as this will encourage more Malaysians to own their first home despite rising property prices.”
A. Santhanaraj, a systems analyst, and bank employee wife A. Caroline said they also did not face any problems getting their combined loan application approved.
“Affordable housing units reduce the burden of high deposits and monthly repayments, allowing buyers to manage housing costs without compromising on other essentials such as savings, childcare or higher education,” Santhanaraj said.
The two couples were among 20 homeowners who received keys to their new units at Ideal Venice Residency in Gelugor from Housing and Local Government Minister Nga Kor Ming and Penang Chief Minister Chow Kon Yeow.
Mohammad Fakruf said he was impressed with the quality of the units.
“I truly didn’t expect an affordable housing project in such a good location.
“I have encouraged my siblings, friends and relatives to look into getting their own affordable housing units.”
The project is Ideal Property Group’s fifth affordable housing development, reaffirming its commitment to delivering high-quality and well-designed homes to the community.
Inspired by the Italian city of Venice, the development’s 1,632 units are priced between RM256,000 and RM400,000.
At the key handover, Ideal chief operating officer Datuk Goh Teng Whoo said the group was happy to contribute to the nation’s affordable housing landscape.
Chow in his speech said the state accorded high priority to providing affordable housing to the B40 and M40 segments.
“In line with this commitment, the state will continue to ensure supply of Rumah MutiaraKu homes remains sufficient and sustainable through close collaboration between Federal and state agencies, in particular the Penang State Housing Board as well as responsible and principled developers.”
At the ceremony were state local government, town and country planning committee chairman Jason H’ng Mooi Lye, Seri Delima assemblyman Connie Tan, Bukit Gelugor MP Ramkarpal Singh, Housing and Local Government Ministry secretary-general Datuk Dr M. Noor Azman Taib and Penang island mayor Datuk A. Rajendran.
Also present were Ideal executive chairman Tan Sri Alex Ooi and executive director Puan Sri Joanne Phor, as well as Perbadanan PR1MA Malaysia deputy group chief executive officer Brian Iskandar Zulkarim.
