KUALA LUMPUR (March 16): Perbadanan PR1MA Malaysia (PR1MA) is eyeing to launch affordable homes in Sabah with an estimated gross development value (GDV) of the RM7.5 billion.

In a statement today, PR1MA said the project has been approved by PR1MA Members of Corporation (MOC) to be built in the state. This makes Sabah the state with the second highest number of PR1MA projects approved for development.

It also said some 30,155 units of Perbadanan PR1MA Malaysia (PR1MA) homes are up for grabs in the upcoming 5-day “Ekspo Jualan Perumahan — Ke Arah Sejuta Impian” in Sabah between March 15 to 19, 2018. 

In a statement today, PR1MA said it will be showcasing its 27 projects all over Malaysia. The expo will continue its nationwide tour, with its next major stop in PWTC, Kuala Lumpur, where the expo will be held from March 14 to April 1, 2018. 

Meanwhile, 42,000 residential units will be showcased and open for sale at the Sabah Trade Centre. PR1MA added that close to 16,000 units offered by PR1MA at the expo are priced below RM300,000, much lower than the average housing price of RM400,000. 

“This is the first time we are organising an expo of this scale in Sabah, bringing together housing agencies at both Federal and State levels. Through the expo, we aim to showcase the range of houses the Government is offering, as well as to educate Sabahans on first-time homeownership, including those in the middle-income (M40) group who aspire to own their own homes,” said Datuk Abdul Mutalib Alias, chief executive officer of PR1MA.

Sabahan’s ability to own a home has been hindered by the high prices of properties, as well as the tightening of bank loans, Abdul Mutalib added.

“To address these issues, the Government established PR1MA to build market quality homes that are priced on average 20% lower than the market rate. These homes are equipped with features and amenities such as a multipurpose hall or a swimming pool to suit the modern Malaysian M40 lifestyle,” Abdul Mutalib said. 

The government housing developer encouraged buyers to take advantage of its special end-financing scheme, Skim Pembiayaan Fleksibel (SPEF). 

“SPEF was introduced in 2017 to increase homebuyers’ chances, and it is available for home buyers to access a higher loan amount with monthly home loan instalments that are at affordable rates,” PR1MA explained. 

The expo also serves as a convenient one-stop-centre for visitors to collect relevant information pertaining to buying a PR1MA home. PR1MA sales consultants, as well as representatives from financial institutions and relevant agencies, will be present to guide visitors through the steps involved in the application and buying process for their first home.

The housing development projects are also a part of the Federal Government’s promise to deliver 1 million affordable homes nationwide, under the implementation of the 11th Malaysia Plan, the statement added.