SPNB to build 10,000 affordable homes in growth zone

SYARIKAT Perumahan Negara Bhd (SPNB) is targeting to build 10,000 low- to medium-cost houses by 2010, to meet housing needs in the East Coast Economic Region (ECER).

SPNB, a wholly-owned subsidiary of the Minister of Finance Incorporated, was set up to provide affordable quality homes for Malaysians in line with the government's national housing objectives.

SPNB managing director Datuk Mohd Amin Mohd Salleh said it will build more affordable homes to cater to the needs of low- and medium-income groups, under its Rumah Mesra Rakyat (RMR) and Rumah Mampu Milik (RMM) schemes.

Applicants with household income below RM1,500 a month are eligible for the RMR schemes while applications under the RMM schemes for affordable low- to medium-cost homes, are subject to guidelines determined by respective states.

Some 52 per cent of the 48,134 families classified as hardcore poor live in the east coast. About half of the families that live in the east coast make less than RM1,500 a month.

"SPNB is planning to build 9,638 units of houses in the ECER under RMM scheme in the next five years,"Mohd Amin said in a statement.

Under RMM, some 3,335 homes will be built in Pahang, while SPNB will build 3,335 homes in Pahang, 3,000 in Terengganu and 3,303 in Kelantan.

"While providing comfortable and practical RMM homes at reasonable prices, our panel of end financiers also offer attractive financial packages," he added.

The RMR scheme is aimed at helping the low-income groups such as fishermen and farmers to own homes with monthly payments as low as RM150, where a third of the development cost of RM60,000 to RM76,000 will be subsidised by the federal government's special fund. For those without fixed income or are self-employed, a Loan Guaranteed Scheme is available.

Mohd Amin said construction has begun on 2,349 RMM homes in Pahang and Kelantan while potential sites for development have been identified in Terengganu.

SPNB has handed over 1,846 RMR homes and is in the midst of building 848 more units in the East Coast.

By New Straits Times