Govt committed to addressing rising construction costs due to Russian-Ukraine conflict, says PM

KUALA LUMPUR: The National Affordable Housing Council is set to form a framework to help resolve the sharp increase in construction costs, says Datuk Seri Ismail Sabri Yaakob (pic).

The Prime Minister said the ongoing Russian-Ukraine conflict had contributed to the issue.

As such, the government is determined to find a solution to the issue that is affecting the prices of houses, he said.

"The council will help resolve problems that have come up as well as make the buying and owning of houses easier in the future," he said during his speech at the groundbreaking ceremony for the PR1MA-Astrum Ampang, here Friday (April 29).

Ismail Sabri added that the government was aware of the challenges faced by the people in owning a house.

"Under the 12th Malaysia Plan (RMK12) and the housing council, immediate and long-term measures have been lined out to resolve this problem.

"This is in line with efforts to boost affordable homeownership for the B40 and M40 groups in an effort to prevent them from bearing a heavy financial burden," he said.

On PR1MA-Astrum Ampang, Ismail Sabri said the project was a collaboration between Perbadanan PR1MA Malaysia (PR1MA) and Astrum Ampang Sdn Bhd (Astrum Ampang) which is a ‘Transit Oriented Development’ (TOD) at Jelatek, Kuala Lumpur.

He said Astrum Ampang would be developed by Astrum Ampang as the developer while PR1MA was the investor and joint venture partner in this mixed development.

"One of the four phases in this development will be devoted to the construction of the PR1MA housing with a gross development value (GDV) of RM180.80mil.

"This project is set to benefit young folks who are working in the city, who are faced with housing issues and accessibility," he said.

A total of 712 SOHO concept and serviced apartments will be built comprising two types - 450 sq ft and 550 sq ft - priced at RM250,000 and RM270,000 respectively as part of this project.

Buyers will also be able to enjoy a variety of common facilities such as a swimming pool, gymnasium, surau, badminton courts and playground.

It is also located strategically from KLCC and within other facilities such as schools, shopping malls, hospitals and banks.

A pedestrian walkway to Jelatek LRT station, which will connect future residents to LRT Kelana Jaya Line, will also be built as part of this development, giving them access to the KL Sentral transportation hub.

The development is also in line with RMK12 aimed at 'One Family, One Home' and the target of building 500,000 affordable housing units.

Also present at the event were Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican and PR1MA chairman, Datuk Dr Fathul Bari Mat Jahya.

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