PR1MA Corporation Malaysia (PR1MA) should lower the maximum price of the low-cost homes it plans to build in Penang, according to the state government.
State Housing Development Committee Chairman Jagdeep Singh Deo, said the federally-owned company intends to construct 1,520 units in Batu Ferringhi based on the documents they have submitted.
“They fixed the pricing at RM400,000 so we have asked them to reduce it to the affordable housing ceiling price of RM300,000,” he said.
PR1MA Corporation also submitted development applications, showing that plans to construct 1,124 homes in Gelugor, 2,387 units in Tasek Gelugor and 9,904 flats in Balik Pulau.
However, the plans for Tasek Gelugor and Bukit Gelugor have not yet been received by the state’s housing department, so they only know the details of the high-rise development in Balik Pulau.
“We received the Balik Pulau project application last Friday and we have asked them to review its height and the prices of the units,” Jagdeep shared.
He told PR1MA Corporation to change the height of the residential project as the town only allows for the construction of buildings of up 16 storeys. This is because developer proposed to build 29 blocks ranging from 23 to 27 storeys.
Jagdeep also asked the company to lower the development’s ceiling price as it is too high. “The units are priced up to RM510,000 each. For a condo in Balik Pulau, the price is too steep for this rural area.”
“The price of a landed property there also costs around RM500,000. So it does not make sense for PR1MA to price its affordable housing units at the same price,” he noted.
Therefore, Jagdeep is urging PR1MA Corporation to properly conduct studies to make sure the development it plans to build would be suitable for the area.
Image: Sourced from Penang Property Talk
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
