16,250 PR1MA sales target on track

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1Malaysia People’s Housing (PR1MA) Corp Malaysia is expected to achieve its target of completing 16,250 affordable homes this year with a total gross development value (GDV) of RM4.1 billion.

The target is significantly lower than the 261,248 PR1MA units approved for development nationwide by the PR1MA board of directors to date.

Minister in the Prime Minister’s Department Datuk Seri Dr Shahidan Kassim said from the total approved units, 141,661 units were at different stages of construction while the remaining homes are still in the planning stage.

The government-owned affordable property developer had completed 12,970 PR1MA units to date with a GDV of RM3.14 billion, Shahidan said in a written reply in the Dewan Rakyat yesterday.

“The GDV is expected to increase to RM4.1 billion by year-end as PR1MA achieves its target of 16,250 units,” he said.

Shahidan said the 16,250 units are strategically located in areas like Putrajaya, Kuala Lumpur, Kedah, Johor and Perak.

He said on average, some 1,000 PR1MA units are sold every month via various sales programmes.

“The sales figure was as a result of various open days organised by PR1MA. Sales of 1,000 units monthly are significant compared to sales of private sector properties,” he said.

Shahidan said 87% of PR1MA homebuyers are Malaysians below the age 40 and 64% are employed in the private sector.

PR1MA has 1.5 million applicants, but many had abandoned their interest due to the failure of securing financing.