fbpx

20% of PSR land set for affordable homes

August 10th, 2019 Leave a comment

Penang South Reclamation

The Penang government has agreed to reserve 20% of land from the proposed Penang South Reclamation (PSR) project for affordable homes, says state Local Government, Housing, Town and Country Planning chairman Jagdeep Singh Deo.

He said he had insisted for that reservation in order to have an adequate supply of affordable homes as the Penang population increases every year.

“The state will continue to build low-cost, low-medium cost and affordable homes even though the target of having 76,000 such units by 2025 under the election manifesto has already been surpassed,” Jagdeep told reporters after visiting the almost completed Iconic Vue in Batu Ferringhi today.

He was responding to a question from a reporter that there were claims of oversupply of these units since the housing target has already been reached.

Jagdeep said the priority of the state government was to ensure adequate supply of these units so that Penangites have a roof over their heads.

“Since 2008, 29,959 units had been built, 23,567 are being built and 48,809 have been approved to be built, bringing the total to 102,335 units.

“These units are, however, being built in stages, not overnight. There are new applicants for these housing units every day. So, there is a need to ensure adequate stock.

“For the PSR, it may take between 10 and 15 years by the time the first island is reclaimed. By 15 years time and beyond, the population in Penang would have increased. There will be a need for even more housing.

“And it would reduce our burden to look for place especially on the island where we have the scarcity of land.

“That is the plan. We’ve a plan. I insisted that 20% of land reclaimed under PSR be allocated and reserved for affordable housing. I may even ask for it to be increased. But at this point in time, that has been agreed (by the state government). The reclaimed land will be for industrial, commercial and residential purposes and even affordable housing.”

Source: Buletin Mutiara

 

Categories: Property News Tags:
RELATED PROPERTIES FOR SALE/RENT AT
  1. No comments yet.
  1. No trackbacks yet.
(You can also Login/Register to submit your comment using unique ID)


Comment Guidelines
  • Avoid political discussion.
  • Comments with inappropriate wordings or personal attack may be moderated or deleted.
  • Developer must register before comment. All anonymous comments claimed to be from developer without registration will be deleted.
  • All advertisement in the comment will be deleted. Please contact us for advertising details.



To advertise your property in this page under "Related Properties for Sale/Rent":
 1. Submit your property at PenangPropertySale.com, it's FREE!
 (Please do not advertise your property in the comment)