Government to find solutions to rising construction cost - Ismail Sabri

KUALA LUMPUR: The government is determined to find solutions to the sudden surge in construction costs as a result of the Russia-Ukraine conflict as it is affecting house prices, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

In this regard, he said the National Affordable Housing Council (MPMMN) will find solutions to address the problem, as well as to make it easier for people to own houses.

He said the government aspired to build 500,000 affordable homes for Keluarga Malaysia (Malaysian Family) under the 12th Malaysia Plan (12MP) towards realising the 'One Family One House' vision.

"This aspiration is very close to my heart and the government understands the concerns of the young people to have their own house, especially when they retire," he said at the ground-breaking ceremony of the PR1MA Malaysia Corporation (PR1MA) residency - Astrum Ampang, here today.

Also present were Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican and PR1MA Malaysia Corporation chairman Datuk Dr Fathul Bari Mat Jahya.

Ismail Sabri said the government was aware of the need for houses by Keluarga Malaysia, whereby immediate and long-term measures had been outlined to resolve the matter.

He said it was also in line with efforts to strengthen ownership of affordable houses for the B40 and M40 groups to prevent them from bearing a heavy financial burden.

Efforts were also being made by other government agencies, such as PR1MA, and thanked the agency for responding to the government's call to build more affordable homes under the 12MP and offer housing financing solutions to Keluarga Malaysia, especially the young people.

The Prime Minister said the government would continue to support PR1MA's efforts in helping the middle -income group to own homes for a sustainable life.

On the PR1MA - Astrum Ampang Residence, Ismail Sabri said the project was expected to help reduce housing problems in the federal capital, in line with the aspirations of the Keluarga Malaysia.

He said the young people, especially those just starting their career, were always faced with housing issues, especially in owning a comfortable home and with access to transport and public facilities.

Apart from that, he said, most houses that being built were beyond the means of those who had just started work, and with the high house prices, coupled with a weak financial position, making it difficult for them to have their own house.

"Therefore, the Ministry of Housing and Local Government (KPKT) is planning to implement the construction of new homes with using the 'Transit Oriented Development' (TOD) concept.

"TOD housing not only facilitates the movement of young people to work, but also enables the country to achieve the target of reducing its carbon footprint by 2030 in line with the Sustainable Development Goals (SDG30)," he added.

Ismail Sabri said Astrum Ampang was an example of affordable housing as it had access to the Kelana Jaya Line rail and the Ampang-Sri Petaling Line LRT, Sungai Buluh-Kajang MRT, besides being connected to the Sungai Buloh-Putrajaya MRT and LRT 3.

It is a mixed development project and developed by Astrum Ampang Sdn Bhd, while PR1MA acts as an investor and joint venture partner.

Of the entire project, one of the four phases of development is dedicated to PR1MA residences with a Gross Development Value (GDV) of RM180.80 million.

A total of 712 affordable homes with the concept of 'Small Office Home Office' (SOHO) and serviced apartments under PR1MA at a price ranging of RM250,000 and RM270,000 will be offered.

It also has various facilities such as swimming pool, gymnasium, surau, and badminton courts.

-- BERNAMA