14 JUNE, GEORGE TOWN – The Penang government today announced that the Penang Home Ownership Campaign (HOC) will be extended for another year until June 2022.
State Housing, Local Government and Town and Country Planning Committee chairman, Jagdeep Singh Deo said the HOC had ended on June 9 this year. “During the HOC, the ceiling price of affordable housing on both the island and mainland will be lowered by up to 10 per cent.
“The original ceiling price on the island and mainland are RM300,000 and RM200,000 respectively, but the prices will be adjusted during the HOC,” he said at a press conference here.
He added that the state had approved the guidelines to increase the density limit of low-medium cost (LMC) units to 120 units per acre on the island.
“These revised guidelines are part and parcel of our war against COVID-19, whereby apart from our priority placed on public security and health, we also want to assist all to rise economically,” he said
Meanwhile, Jagdeep also announced that the first affordable housing project to be developed by the Penang Housing Board (LPNPP) at Bukit Gedung, Bayan Baru was expected to be completed by 2025.
He said the housing project, occupying 3.076 hectares of land, would consist of 1,014 units of affordable homes and 253 LMC units.
“This project will also include facilities such as shop lots, swimming pool, surau, tai chi plaza and study room,” he added.