KOTA KINABALU, 19 JANUARY 2018: Perbadanan PR1MA Malaysia (PR1MA) continues to deliver fairly-priced affordable homes with lifestyle and community concepts for homebuyers from the middle-income group (M40) through the PR1MA Open Day (POD) in Sabah.
The two-day sale event, will feature its new development; PR1MA@Menggatal, at The Klagan Regency 1Borneo Hypermall, here, from January 19 to January 20. The POD will be attended by Datuk Seri Panglima Haji Hajiji Haji Noor, Minister of Sabah Local Government and Housing.
More than 5,000 units with an estimated gross development value (GDV) of RM1.25 billion will be up for sale in the first quarter of 2018 to the M40 community residing in the state who are interested to own quality homes, equipped with offerings and amenities to suit their lifestyle.
Among the other projects in Sabah that will be up for sale in the first three months of this year are PR1MA@Borneo Cove (999 units), PR1MA@Kota Marudu (360 units), PR1MA@Ranggu (1,300 units), PR1MA@Kinarut South (502 units), PR1MA@Menggatal (1,200 units), PR1MA@Sandakan City Centre (750 units) and PR1MA@Kota Marudu 2 (360 units).
The POD serves as a convenient one-stop-centre for potential buyers to gather all relevant information pertaining to PR1MA homes with the availability of PR1MA staff, representatives from financial institutions and relevant agencies to assist them with their queries.
PR1MA@Menggatal is nowopen for sale with a starting price of RM 243,600. Located north of the town’s growth centre and with the proximity of University Malaysia Sabah (UMS), this high-rise gated property comes with common amenities such as security service, CCTV, multipurpose hall, nursery and surau.
“PR1MA POD serves as a one of the platforms for us to engage with PR1MA homebuyers. We can also take this opportunity to educate them on the process of registering and applying for a PR1MA project as well as counselling in managing their monthly repayment,” said Dato’ Abdul Mutalib Alias, Chief Executive Officer of PR1MA.
“During this two-day event, I hope that aspiring home buyers can take this opportunity to find out more about our special end-financing scheme, simply known as Skim Pembiayaan Fleksibel (SPEF), an attractive financing option to assist them in owning PR1MA homes,” he added.
Made available since February 2017, SPEF provides PR1MA home buyers with better access to a higher loan amount with monthly home loan instalments that are at affordable levels.
With this scheme, home buyers would be able to enjoy monthly instalments as low as RM880 per month or RM30 a day subject to terms and conditions and eligibility. Those interested can apply for this scheme through PR1MA’s partner banks – Maybank, CIMB, RHB and AmBank.
SPEF, designed exclusively for PR1MA homebuyers, is a joint effort of Bank Negara Malaysia, EPF and the partner financial institutions. This scheme aims to increase homebuyers’ chances of getting a home loan, especially for first-time homebuyers by providing access to a higher loan amount than they would otherwise be eligible for with conventional loans.
SPEF comes in two options – the step-up only or the step-up with EPF Account 2 withdrawal. For both options, borrowers are only required to service the loan interest in instalments for the first five years and start paying the principal beginning from the sixth year. If homebuyers would like to get a larger loan amount, they may choose the second option where EPF Account 2 is utilised.
The scheme is subject to terms and conditions and eligibility will depend on the borrower’s risk profile and credit assessment by the banks.
As at December 2017, PR1MA’s Members of Corporation (MOC) has approved the development of 267,670 units of PR1MA homes nationwide, of which 141,831 are under various stages of construction.
A total of 14,612 units of PR1MA homes have been sold to date, with an estimated gross development value of RM3.2 billion. A total of 1.5 million applicants have registered through PR1MA’s National Registration System.