GEORGE TOWN: A minimum of one-fifth portion of the Penang South Reclamation (PSR) land will be used to increase the number of affordable housing units, said Jagdeep Singh Deo.
The state housing, town and country planning and local government committee chairman said the proposal was tabled and agreed during a state executive council meeting.
“The first island of PSR would take between 10 and 15 years to complete, and by that time as the Penang population increases, so will the demand for affordable housing, ” he told a press conference yesterday.
He said the state government would require adequate stock of low-cost units, low-medium cost units, as well as affordable housing units in the long run, as the number of housing applicants has been increasing each day.
Under the PSR project, the state government is proposing to reclaim 1, 821.085 ha of the sea on three man-made islands across south of Penang International Airport towards the east around Permatang Damar Laut, to create a land bank to fund the Penang Transport Master Plan (PTMP).
The PTMP project is an initiative of the state government which is estimated to cost RM46bil, encompassing an undersea tunnel connecting the island to the mainland, highway, LRT, monorail and a bus network on the island and Seberang Prai.
Earlier, Jagdeep visited the construction site of Iconic Vue, a 26-storey flat consisting 232 affordable housing units with a property size of 78.97 sq m (850 sq ft), located in a low-density neighbourhood of Batu Ferringhi.
The flat is expected to be completed by November and to date, 228 units have been sold. — Bernama