Penang Government’s Affordable Housing Progress and Vivo Executive Apartment Launch In line with the Penang2030 Vision, the Penang government has provided 170,000 affordable housing (RMM) units so far, with plans to deliver 220,000 units by 2030. The initiative aims to help low- and middle-income groups secure homeownership, benefiting nearly one million people in Penang, which has a population of 1.8...
SkyWorld and PDC Collaborate on Malaysia's Largest Affordable Housing Initiative SkyWorld Development Bhd has joined forces with Penang Development Corp (PDC) and its subsidiary PDC Properties (PDCP) to embark on a groundbreaking affordable housing initiative in Penang. The project, valued at RM13 billion, spans 195.54 acres in Seberang Jaya and Batu Kawan and aims to deliver over 35,000 affordable...
Penang Targets 220,000 Affordable Housing Units by 2030, Supporting Homeownership for Low- and Middle-Income Residents The Penang government has delivered 170,000 affordable housing (RMM) units to date as part of the Penang2030 vision to provide affordable homeownership options for low- and middle-income groups. This initiative aims to reach 220,000 housing units by 2030, potentially benefiting around one...
Protasco Bhd (KL) announced a revision of its affordable housing projects in Putrajaya, initially awarded in 2022 by Perbadanan Putrajaya. In a filing with Bursa Malaysia, Protasco disclosed that its subsidiary Protasco Development Sdn Bhd has received updated letters of award replacing the previous agreements, revising the project names and slightly reducing the units. The project previously known as...
The recent Budget 2025 announcement introduced significant support for Malaysia’s aspiring homeowners. Under the RM10 billion Housing Credit Guarantee Scheme (SJKP), 20,000 first-time home buyers will receive financial assistance, particularly those who often face hurdles in securing home loans, such as gig workers and recent university graduates. Housing and Local Government Minister Nga Kor Ming...
Should There Be a Limit on Investment Properties to Address Affordable Housing Shortage? A proposal to cap the number of properties individuals can purchase for investment has sparked debate in Malaysia. The National House Buyers Association (HBA) believes that while it makes sense to limit the number of affordable homes an individual can buy, extending this cap to all property categories could unfairly...
The Selangor state government is set to exempt property developers from development charges for affordable housing projects, effective January 2024, announced Datuk Borhan Aman Shah, the Selangor state housing and culture exco, at the Rehda Selangor Housing Convention 2024. This exemption applies to key affordable housing schemes like Rumah Idaman and Rumah Selangorku Harapan, aiming to accelerate the...
In a significant move to address the discrepancies in affordable housing prices across different regions, the Ministry of Housing and Local Government (KPKT) has embarked on implementing a comprehensive mapping of affordable housing prices under the National Housing Policy. This innovative approach seeks to establish a more equitable and realistic pricing model for affordable homes, tailored to the...
In a bid to facilitate affordable homeownership, the Malaysian government has announced plans to expand the Rent-to-Own scheme, ensuring greater accessibility for individuals belonging to the B40 and M40 income groups. Local Government Development Minister Nga Kor Ming affirmed the government's commitment to forge partnerships with financial institutions, thereby offering enticing and sustainable housing...
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