GEORGE TOWN (October 16): The National Housing Corporation (NHC) is conducting extensive studies on issues related to public and affordable housing programs, Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican said.
He said the NHC was approved by Cabinet on August 19 of this year and was formed by 15 government agencies.
He noted that the NHC aimed to consolidate government agencies to form a targeted and systematic approach to tackle the problems and challenges of public and affordable housing programs faced nationwide, such as reaching out to communities B40 (low income), as well as the regulatory framework. and implementation.
“NHC received RM3 million to conduct the comprehensive study in two years,” he told a press conference after attending a letter of offer ceremony for Ideal units Residency Bukit Gelugor here on Saturday.
On the affordability of affordable housing, Reezal Merican said he would look for solutions to ease the point of entry for homebuyers.
He was hopeful that Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz would consider resuming the MyHome program, a federal government initiative launched in 2014 to help low-income groups buy their first home.
“Under the MyHome program, the government will help successful applicants by subsidizing the standard 10% down payment required to purchase such affordable housing,” he added.
Earlier on Saturday, Reezal Merican joined Penang Chief Minister Chow Kon Yeow and Housing, Local Government and Land Use Planning Committee Chairman Jagdeep Singh Deo in delivering letters of offer to 20 candidates for units of the Ideal Residency affordable housing project.
The affordable housing project would be built in two phases on 16.2 acres (6.556 hectares) of land, which would include a total of 2,850 affordable housing units with an area of 850 square feet and a value of 300,000. RM per unit. .
Phase 1 of the project would consist of a 49-storey apartment building comprising 1,218 apartment units, while Phase 2 would involve the construction of a 46-storey building comprising 1,632 units.