Sabah has the second highest number of PR1MA homes to be developed with an estimate GDV of RM7.5 billion
KOTA KINABALU, SABAH, 16 MARCH 2018: Sabahans can now look forward to more quality homes with lifestyle concepts below the current market prices, as more PR1MA homes with an estimated gross development value (GDV) of RM7.5 billion have been approved by PR1MA Members of Corporation (MOC) to be built in the state. This makes Sabah the state with the second highest number of PR1MA projects approved for development.
PR1MA will be showcasing its 27 projects all over Malaysia, with a total of 30,155 units during the upcoming 5-day “Ekspo Jualan Perumahan – Ke Arah Sejuta Impian”, the largest home expo series to be held in Sabah between 15 and 19 March 2018. Close to 16,000 units offered by PR1MA at the expo are priced below RM300,000, much lower than the average price of RM400,000, based on properties launched in 2017 by private developers in the West Coast of Sabah according to the latest Property Development Report 2017 by Sabah Housing and Real Estate Developers Association (SHAREDA).
The Sabah edition of the Ekspo Jualan Perumahan – Ke Arah Sejuta Impian will be officiated by Tan Sri Datuk Seri Panglima Musa Haji Aman, Chief Minister of Sabah.
Meanwhile, PR1MA has also announced that it will be opening the agency’s first sales office in the State, located at Aeropod, Kota Kinabalu. The centre, which is scheduled to open in August this year, will act as the central hub in planning, developing and maintaining PR1MA’s Sabah-wide projects. This is part of its commitment to deliver community-focused quality homes to Sabahans,
“This is the first time we are organising an expo of this scale in Sabah, bringing together housing agencies at both Federal and State levels. Through the Ekspo Jualan Perumahan – Ke Arah Sejuta Impian, we aim to showcase the range of houses the Government is offering as well as to educate Sabahans on first-time homeownership, including those in the middle- income (M40) group, who aspire to own their own homes,” said Dato’ Abdul Mutalib Alias, Chief Executive Officer of PR1MA.
“We understand that, in tandem with socio-economic development and the rising quality of life in Sabah, the size of the middle-income group has also expanded in recent years. However, Sabahans’ ability to own a home has also been hindered by the high prices of properties as well as the tightening of bank loans. To address these issues, the Government established PR1MA to build market quality homes that are priced on average 20% lower than market rate. These homes are equipped with features and amenities suited for the modern Malaysian M40 lifestyle,” added Dato’ Abdul Mutalib Alias.
PR1MA, together with various Federal and State housing agencies including the Sabah Housing and Town Planning Authority (LPPB); Syarikat Perumahan Negara Berhad (SPNB); 1Malaysia Housing Projects for Civil Servants (PPA1M) and Dewan Bandaraya Kota Kinabalu (DBKK) are hosting the Ekspo Jualan Perumahan – Ke Arah Sejuta Impian in Sabah with a total of 42,000 residential units showcased and open for sale at the Sabah Trade Centre.
The housing development projects in the state by various Federal and State agencies are in line with the Sabah Government’s Budget 2018 tagline of “Strengthening the Economy, Prospering the People” which aims to ensure the holistic wellbeing of the Rakyat, including ample supply of affordable housing options for Sabahans in the B40 and M40 income groups. This is also part of the Federal Government’s promise to deliver 1 million affordable homes nationwide under the implementation of the 11th Malaysia Plan.
A total of 12 PR1MA developments in Sabah, comprising of more than 12,000 units, covering both high-rise and landed units are showcased at the expo including PR1MA projects in Borneo Cove, Kota Marudu, Menggatal, Sandakan City Centre and Ranggu. All PR1MA developments are complete with high-quality features and amenities suited for the modern Malaysian lifestyle. These features and amenities are commonly found in projects by private developers such as multipurpose hall, playground, surau, child care centre and swimming pool.
The expo also serves as a convenient one-stop-centre for visitors to collect relevant information pertaining to buying a PR1MA home. PR1MA sales consultants as well as representatives from financial institutions and relevant agencies will be present to guide visitors through the steps involved in the application and buying process for their first home.
PR1MA encourages buyers to take advantage of its special end-financing scheme, Skim Pembiayaan Fleksibel (SPEF), which is available for home buyers to access a higher loan amount with monthly home loan instalments that are at affordable rates. SPEF was introduced in 2017 to increase homebuyers’ chances, particularly first-time buyers, of obtaining a home loan by providing access to a higher loan amount than they would otherwise be eligible for with a conventional loan.
The expo will continue its nationwide tour, with its next major stop in PWTC, Kuala Lumpur, where the expo will be held from 24th March to 1st April 2018.