Syarikat Perumahan Negara Bhd (SPNB) is planning to launch three projects this year, which include Kediaman SPNB in Sentul, Kuala Lumpur – a condominium project with 916 housing units measuring 806 sq ft and priced at RM300,000 and below.
“This project goes well with SPNB’s goal to serve the B40 group, we are not deviating anymore from serving our focus group throughout Malaysia. We try to get 100% financing for our buyers, which means they do not have to put up a deposit, so that they only pay progressively after a certain period of time,” SPNB CEO Datuk Hasleen Isnin, who took over the lead in September 2020, told The Malaysian Reserve (TMR).
“That way, they can manage their finances without being burdened and they have a lot of time to adjust their cashflow to make sure they can own the house.”
The two other projects are in Putatan, Kota Kinabalu, Sabah and in Kuala Nerus in Terengganu. The Sabah project will be the company’s first project for the frontliners, while the Terengganu project will be done in collaboration with the state government.
Hasleen noted that the company will return to its core function of delivering affordable homes as well as conducive living conditions for the country’s bottom 40% (B40) group.
“We want to rebuild our brand and position. We have moved from trying to be a normal developer to be an affordable developer,” he said.
“We are really focusing back to serve the B40 group or, due to the COVID-19 pandemic, the B50 group, through our Rumah Mesra Rakyat (RMR) and our Kediaman SPNB to make sure that not only we build homes, but also assist in getting buyers to own a house through financial packages.”
SPNB has recently partnered with some banks to help customers secure financing.
“We are here to assist buyers to own assets that increased in value by giving them options to change their cashflow or priority. We know the difficulty of the B40 group is to cross over 10%, meaning if the house is RM300,000, they have to pay RM30,000,” said Hasleen.
“For homebuyers who are still young, most of them do not have that kind of savings. So, what we do is provide options where they don’t have to pay the 10%, but instead, they can just pay instalments.”
He revealed that SPNB will also focus on providing homes within the outskirts of cities and key towns, which will eventually be the pattern of living.
“Due to the pandemic, SPNB is getting a clear direction of the market. People are more intuitive and innovative to get by, some of them have moved to the outskirts of town and we see that if they want to do business, they don’t have to be in Kuala Lumpur, they can be in Ipoh, Seremban or Melaka and do online business,” he said.
“People who used to work in offices have to dabble in entrepreneurship and come up with their own business and enterprise, such as selling food, merchandise and various services.”
People find it more conducive to live within the outskirts due to better quality of living, he said.
Moreover, the government is investing in various infrastructure to make the outskirts and rural areas accessible via public transportation.
“We believe we are serving the right market because we are trying to deliver more homes in the outskirts. It is more affordable to live outside of the city because land is a factor that makes the house more affordable,” he said.
Meanwhile, Hasleen said that he does not believe in building a large township and house a specific group within one area.
“I believe in what I call ‘sprinkle project’ where everyone is living together,” he told TMR.
He added that SPNB focuses on small-scale projects, featuring 50 or 60 units to blend those from the B40 group with the rest of the society.
And in all its project, the company always “try to provide the best facilities even for our homes that are below RM200,000 and RM100,000”, he said.
“We believe that the B40 group deserves a home that they can be proud of and I don’t believe they should be confined in the same area,” noted Hasleen.
“Hence the sprinkle project, that’s why in our development rules, we combine the apartment together with medium housing development, so they can interact.”
Image source from SPNB