Sungai Besi land for Government’s housing development

June 24, 2011 | The Star |

PETALING JAYA: A portion of the old Sungai Besi airport land will be utilised for property development under the Government's quality housing scheme, said Prime Minister Datuk Seri Najib Tun Razak.

He said the land would be developed by 1Malaysia Development Berhad (1MDB) after the airport base closed.

“A certain portion of the land will be used for quality affordable housing for the rakyat,” he said during a live interview with Chinese- language radio station One FM yesterday.

The land had earlier been awarded to 1MDB to be developed into Bandar Malaysia, which will include residential, commercial and recreational areas.

Najib said the scheme, dubbed Perumahan Rakyat 1Malaysia (Prima), would offer homes at below market value as part of a public- private partnership to provide affordable housing.

He said big property companies including Sime Darby, SP Setia and Putrajaya Corporation had been invited to participate in the programme. However, he stressed, the development would be done under a social business model.

“The developers are not there to make money but to provide quality affordable housing.

“They have to present their business model and costing and we will do an analysis to make sure they don't make but don't lose money either,” he said.

Najib also encouraged homebuyers to leverage on the recent 100% financing policy initiated through the Government's My First Home scheme launched in March.

Under this scheme, Malaysians aged 35 and below who meet the requirements are eligible to purchase a house priced no higher than RM220,000 with 100% financing.

To ensure transparency, Najib said a special unit under the Prime Minister's Department would be set up to determine who would get the homes.

“We want to show that the distribution is handled fairly and in a transparent manner, so people who deserve houses get houses,” he said, adding that condominium units might be included as well.

He later on tweeted that Prima would be launched in July.