Housing development expenditure likely more than halved in 2017

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PETALING JAYA (Oct 27): Development expenditure (DE) for the housing subsector is expected to be more than halved to RM870 million – or 1.9% of the total RM46 billion (DE) – in 2017, as the 1Malaysia People’s Housing Corporation (PR1MA) sources its financing from the market, according to the “Economic Report 2017/2018”.

This compares with RM2.2 billion for 2016, which accounted for 5.3% of overall DE.

“However, allocations for People’s Housing Programme (PPR) and 1Malaysia Civil Servants Housing (PPA1M) continue to increase in enhancing house ownership among low-income earners and civil servants,” it said.