IPOH, February 11-– Property developer MK Land Holdings Bhd (MK Land) will build 500 affordable housing units in Klebang and Meru here this year, its Group Chief Executive Officer, K. Mohanachandran said.
He said the single-storey affordable houses would fetch below RM300,000 per unit.
“However, this will depend on how fast we can get the approval for the projects. If the approval process is fast, there will be no ‘holding cost’ that will escalate the home prices,” he said.
He was speaking to reporters after the handing over of keys ceremony to owners of 171 MK Land affordable housing units in Klebang Putra here Saturday by MK Land Chairman Felina Mustapha Kamal.
Asked on the impact of the weakening ringgit on affordable housing projects, Mohanachandran said it hardly affected their construction as agreements had already been signed with contractors, while many projects had already been completed.
“Even those that are still under construction will be slightly affected as 60 to 70% of building materials are sourced locally,” he said.
Expressing gratitude to the state government, he said: “The Perak government has always been supportive towards us and given us fast approval.
“That’s one of the reasons MK Land continues to build housing projects and provide affordable housing in Perak.”
Mohanachandran hopes the state government and the Ipoh City Council could help MK Land acquire land in order to complete the missing link of a road linking Klebang to Meru.
“The total length of the road is 3.9km. We have built a 1.7km road from Klebang and another 500 meters from Meru, but the remaining 1.7km could not be built because it is a private area.
“The missing link causes users to travel 8km,” he said, adding that the connecting road would be a catalyst for the development of both areas.