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Only 8,500 PR1MA Homes Built So Far

iMoney 11/8/2017 Emmanuel Surendra
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The Malaysian government has only managed to build less than 2% of the 500,000 affordable house under the PR1MA scheme.Datuk Seri Shahidan Kassim, minister in the prime minister’s department, said that up until June 2017, about 8,475 units of PR1MA homes have been completed, while the keys of 934 units have been handed to owners.Launched in 2011 by Prime Minister Datuk Seri Najib Razak, PR1MA was created to cater to the middle-income group that has been priced out of the property market.Its toughest challenge has been

a lack of land bank to work with

. To meet its 500,000-home target, PR1MA would need about 12,500 acres based on a plot ratio assumption of 40 units per acre.But its negotiations with government agencies and stakeholders to source for these lands were not a big success.

[Source]

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