Malaysiakini NEWS

Ministry ready to assist state gov'ts in rent-to-own house schemes

Bernama
Published:

The Housing and Local Government Ministry (KPKT) is prepared to assist state governments in the sale of affordable houses developed by state governments through a rent-to-own financing scheme.

Its Minister Zuraida Kamaruddin (photo) said efforts to ensure more people own houses are being carried out by both the federal and state governments.

However, some self-employed buyers have problems applying for a bank loan as they do not have an income statement.

“Those who work on their own were able to buy houses and join the rent-to-own scheme we introduced in September and we hope to help more people, especially those in the B40, to own houses.

“Under the rent-to-own scheme, tenants who pay rent on time for five years would be offered to buy the house under the schemes,” she said.

Zuraida told a media conference after launching the Syarikat Perumahan Negara Berhad (SPNB) affordable houses in Kuantan today.

According to Zuraida, KPKT is open about forging a co-operation with state governments and landowners in the construction of affordable houses if the site was suitable.

Commenting on the project, Zuraida said it would be developed via a design and build concept with private financing initiative on a 59-hectare site involving the construction of 1,422 units of houses in three phases over seven years.

He said the first phase would be starting in January and is expected to be completed in three years involving 186 units of double-storey link houses (349 units) and single-storey shops (12 units).

The houses’ location is strategic, near the Sultan Ahmad Shah Airport, Gambang water park, army camp and public universities not far from Kuantan.

“We also made it a policy so that affordable houses are built to meet the specification of at least 900sq ft to ensure the comfort of buyers,” she said.

Zuraida said the project was part of the government’s commitment to fulfilling the pledge to build one million affordable houses in 10 years as stated in Pakatan Harapan’s general election manifesto.

- Bernama

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