1Malaysia Civil Servants Housing (PPA1M) project launched in Kepong

27 May 2016 / 14:33 H.

KUALA LUMPUR: Affordable housing projects have always been one of the government's top priorities and will always be given attention, Prime Minister Datuk Seri Najib Abdul Razak said.
He said the latest 1Malaysia Civil Servants Housing (PPA1M) project launched in Kepong, near here, today was proof that the government is committed to fulfilling its promises.
Najib pointed out that since the PPA1M initiative was started in 2013, the government has targeted 100,000 units to be completed by 2018, and has seen progress moving in the right direction with over 95,000 units currently in various stages of development.
"PPA1M was launched in 2013 in Putrajaya, and until today, there are 14 projects there involving 13,254 units. It was then extended nationwide with a further 82,012 units.
"Add to today's launch, and we are closing in on 100,000 units that was promised," he said during the launch of the PPA1M Metropolitan Kepong which was attended by future unit owners today.
Najib said PPA1M units were also able to be sold much lower than the market value because of the government's consideration and indirect subsidies, despite implementation being done by private companies.
"These projects offer units from as low as RM90,000 to RM300,000, about 30% lower the market value," he said.
House owners will not be allowed to sell their houses for a period of 10 years after purchase to avoid any unwanted incidences or speculation.
Meanwhile, Najib said the Kepong project is currently at the piling stage, and is expected to be completed by 2018.

sentifi.com

thesundaily_my Sentifi Top 10 talked about stocks