PR1MA sold houses worth more than RM70m at Mapex HOC

Most of the units sold are located in KL — in particular, Brickfields, Jalan Jubilee and Alam Damai


More than 250 units of Perbadanan PR1MA Malaysia (PR1MA) houses worth about RM70 million were sold at the three-day Malaysia Property Expo (Mapex) Home Ownership Campaign (HOC) last week.

“More than 250 PR1MA residential units worth RM70 million were sold last week in different locations, including in Sabah and Kedah.

“More than 50%, or about 183 residential units, were locked in at the three-day HOC event in Kuala Lumpur (KL) City Centre with about RM57.6 million worth of cumulative gross development value,” an industry source told The Malaysian Reserve.

Most of the units sold are located in KL — in particular, Brickfields with 94 units, followed by Jalan Jubilee (41) and Alam Damai (26).

The HOC that began from early this year until the end of June aims to alleviate the property overhang in the country.

It was reported that there are 40,916 unsold residential units valued at RM27.38 billion as of the third quarter of last year.

Meanwhile, PR1MA also managed to sell over 46 residential units during its Jelajah PR1MA campaign in Kuantan, Pahang, with a cumulative value of more than RM9 million.

The Mapex HOC expo was co-organised by the Housing and Local Government Ministry and the Real Estate and Housing Developers’ Association.

For the whole campaign, participating developers have pledged to offer a minimum discount of 10%, while PR1MA committed up to 30% of cuts — expecting to showcase 42,000 residential units in the six months of promotions.

PR1MA also offers a 10% fixed discount, with another 10% rebate for potential house buyers who could not secure enough loans.

“The rebate could go up to 15% or more, depending on the location,” the source added.

Based on the location, PR1MA homes are priced between RM100,000 and RM400,000 per unit before discounts — covering both apartment units and terraced houses.

PR1MA was among 52 developers that took part in the three-day HOC expo which was officiated by Prime Minister Tun Dr Mahathir Mohamad last Friday.

The expo showcased more than 20,000 units of houses at various ranges of prices worth about RM12.5 billion.