GEORGE TOWN, April 19 — Perumahan Rakyat 1Malaysia (PR1MA) Bhd’s project development plans are in line with Penang state’s planning guidelines.
In a statement today, PR1MA said, it has landed and high-rise developments in Penang and all homes were priced at an average of 20 per cent below market prices in surrounding areas.
“Some of the projects have been submitted to the Penang state government and more will be submitted as part of the required approval processes. We shall wait for the state’s comments before making any necessary adjustments,” it said.
To-date, PR1MA said, its Members of Corporation had approved 246,410 units comprising 212 projects to be built nationwide of which 84,132 units were now in different stages of construction.
“Out of that 246,410 units, a total of 20,306 units are in Penang and more will be allocated,” it said.
PR1MA said according to its database analysis, 91 per cent of Penang’s registrants could afford homes priced below RM400,000 and 75 per cent of the registrants could afford homes priced up to RM300,000.
It said the analysis also showed that seven per cent, or 88,000, out of 1.25 million PR1MA registrants were from Penang and there was a demand for bigger unit sizes in the range of 1,000 sq ft to 1,200 sq ft.
“Therefore, PR1MA will continue to look for suitable locations to build more homes in Penang according to where the demand is. We hope that we will continue to receive support from property developers as well as the state government and its agencies,” it said.
It said PR1MA will continue to engage with the Penang State Government and the local authorities to ensure that all the projects will go on smoothly.
“We hope to achieve a win-win situation as the rakyat’s needs come first and are our highest priority,” it said.