The Malaysian Housing Financing Initiative (i-Biaya) is one of four components of the Home Ownership Programme (HOPE) and among the efforts of the Housing and Local Government Ministry (KPKT) to increase home ownership among the people.

KPKT deputy secretary-general (Housing and Community Wellbeing), Datuk Azhar Ahmad said the initiative would focus on the B40 and M40 groups who still faced problems with access to house financing.

“Among the contributing factors to the financing issue are the failure to get housing loans due to poor credit record, the high level of risk and insufficient documents to support the ability to repay the loan.

“It is also a medium that supports the provision of 500,000 affordable homes as targeted in the 12th Malaysia Plan (12MP).”

Azhar said this at the media briefing on i-Biaya which will be launched on April 14 by KPKT Minister, Datuk Seri Reezal Merican Naina Merican and Finance Minister, Tengku Datuk Seri Zafrul Abdul Aziz.

There are three schemes to be offered through i-Biaya which are Skim Jaminan Kredit Perumahan (SJKP) via SJKP Berhad, Skim Rumah Pertamaku (SRP) by Cagamas SRP Berhad and Skim Rent-to-Own (RTO) by Perbadanan PR1MA Malaysia (PR1MA).

“The SJKP is to help first-time homebuyers who do not have a fixed income such as gig economy workers, business owners, traders or small entrepreneurs.

“This group usually does not have the usual documents to obtain housing loans such as no salary slips, earning a low income, no EPF contribution and so on,“ said Azhar.

The SRP, on the other hand, helps first-time homebuyers from the M40 and B40 groups to own a house without having to pay the down payment and is open to self-employed individuals or employees whose gross household income does not exceed RM10,000 for single applicants or joint applicants.

Meanwhile, the PR1MA RTO Scheme will open up opportunities for the middle-income group (M40) to own a house through an affordable ownership scheme with a hire purchase concept for all existing PR1MA units throughout Malaysia.

All three schemes can be applied through the 26 banks involved.

Source: Bernama

Penang’s mission of diversifying tourism offerings on the mainland took a major step today after the launch of the ‘Opposite Side of the Island – Seberang Perai campaign’ at Iconic Hotel in Bukit Mertajam.

As part of the ‘Experience Penang’ campaign, the highlight of today’s launch was the Seberang Perai tourism product promo video, which featured interesting and exciting tourist attraction spots – from the Frog Hill, Kampung Agung and Cherok To’Kun Hill to Design Village Mall, IKEA Batu Kawan and others.

State Tourism and Creative Economy Committee chairman Yeoh Soon Hin, who was present to officiate the ceremony, said today’s campaign aimed at bringing domestic and international visitors to Penang to experience the various tourism spots, particularly on the mainland.

“This is very much in line with the Penang Tourism Master Plan, which integrates the new National Tourism Policy (2020 – 2030) and the state’s Penang2030 vision of a ‘Family-Focused Green and Smart State that Inspires the Nation’.

“The state aspires to diversify tourism products all over the island and mainland. Penang has a variety of tourism offerings that are undiscovered, especially those in Seberang Perai.

“With the wide array of agrotourism and ecotourism offerings, Seberang Perai can also be developed and transformed into a nature-based tourism destination.

“This will also create a better variety of tourism experiences that can satisfy all types of visitors who come to our state,” Yeoh said in his speech during the launching of the ‘Opposite Side of the Island – Seberang Perai campaign’ at Iconic Hotel in Bukit Mertajam today.

Relatively, he also reminded visitors to spend at least five to seven days in Penang because the state is filled with must-see places that are quite impossible to cover in a short stay.

“If you wish to explore Penang well enough to uncover its hidden gems, then make sure to stay longer because you will need it,” Yeoh added.

Among those present during the launch were Penang Global Tourism chief executive officer Ooi Chok Yan and Chief Minister Incorporated deputy general manager Bharathi Suppiah.

Source: Buletin Mutiara

Suria 2, is the second phase of Hijau E-Komuniti master-planned development by PDC at Batu Kawan. Strategically located on 7.48 acres of land along Jalan Cassia Barat 1, adjacent to the first phase (Suria 1) which was completed five years ago. It is just a mere minute’s drive to nearby amenities, which include IKEA, Design Village Outlet Mall, Central Island Park, UOW Malaysia KDU University, Peninsula College and several popular eateries.

This development will offer a total of 520 affordable housing units, featuring three different layout sizes:

• Type B – 800sq.ft. (RM72,500)
• Type C1 – 900sq.ft. (RM168,000)
• Type C2 – 1,000sq.ft. (RM220,000)

The construction work is expected to start by end of 2022, to be completed within three years.

READ MORE ABOUT AFFORDABLE HOUSING:

• Eligibility and the requirement of buying affordable housing
• Full list of affordable housing in Penang

Project Name : Suria 2 @ Hijau E-Komuniti
Location : Batu Kawan
Property Type : Affordable housing
Total Units: 520
Built-up Area: 800sq.ft., 900sq.ft. & 1,000sq.ft.
Indicative Price: RM72,500 onwards
Developer : Penang Development Corporation

Location Map:

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

Find out more about GEM Residences

The Penang government today announced that the Penang Development Corporation’s (PDC) latest affordable housing project in Batu Kawan, called Suria 2, will have its construction works begin in Dec this year.

Suria 2, which will cover 7.48 acres of total land size, is part of the 25 phases planned under the affordable housing development by the Penang government in Batu Kawan.

PDC chief executive officer Aziz Bakar said that 200 acres of total land size have been allocated for the development of housing projects under the 25 phases planned out.

“We have planned to build a total of 11,800 units of various types of affordable housing in all the phases.

“As for Suria 2 (under Phase Two), we will have a total of 520 units.

“Out of the 520, 371 will be Type C units, while 149 will be Type B units.

“We are looking at completing the project within three years with an estimated budget of RM102 million for construction works,” Aziz told reporters after the groundbreaking ceremony of the Suria 2 affordable housing project in Batu Kawan today.

Suria 1, which was completed, was the first project under Phase One.

Chief Minister Chow Kon Yeow, who was present to officiate the ceremony, applauded PDC and the entire team for working hard in planning and executing affordable housing projects in the maturing township of Batu Kawan.

“The whole team is working hard to add value to the development of Batu Kawan as an all-rounder township in Penang.

“As we all know, Batu Kawan is a town that has it all, from commercial, residential and institutional developments to the ever-growing Batu Kawan Industrial Park (BKIP).

“Despite difficult situations, I believe Covid-19 has also opened a space to speed up developments here in Batu Kawan.

“Congratulations to PDC on Suria 2.

“We will continue to do our part in delivering sufficient affordable housing projects for Penangites,” said Chow during his speech.

Meanwhile, state Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo said that the planning for housing in Penang has evolved tremendously over the years.

“PDC, as an experienced arm of the state government in the real estate sector, has greatly contributed to the development of affordable housing projects in Penang.

“It’s latest project, Suria 2, is a good proof that the state cares for the well-being of the people,” Jagdeep said.

Speaking of Suria 2, he added that Type C1 which cost RM72,500 for each unit, has a total size of 800sq ft; while Type C2 which is RM220,000 has 1,000sq ft in size. Meanwhile, Type B which is 900sq ft, cost RM168,000 per unit.

Source: Buletin Mutiara