Johor's Iskandar Development Region to include properties for lower-income group
27/01/2007 NST by Chuah Bee Kim

JOHOR BARU, SAT.: There is place for low-income house-buyers at Johor’s most ambitious mega project in the Iskandar Development Region here.

Syarikat Perumahan Negara Berhad (SPNB) today unveiled 752 units of low-medium-cost apartments on over 7.29 hectares in Taman Seri Setanggi, with 208 units priced at RM50,000 each already snapped up and 30 per cent of the 544 units priced at RM80,000 also sold.

SPNB, incorporated in 1997, is a wholly-owned subsidiary of the Minister of Finance Incorporated (MOF Incorporated), which was set up to provide affordable quality homes for every family in line with the government’s housing policy.

SPNB director Datuk Othman Abdullah said the project offered qualified buyers a low downpayment of RM400 and a loan package of up to 110 per cent.

“By focusing on affordable houses, we are filling the vacuum created by the lack of supply of products in this range,” he said.

The company, he said, is planning to launch another nine housing projects in Pontian, Kluang, Batu Pahat, Segamat, Pasir Gudang and the city.

Johor Baru MP Datuk Shahrir Abd Samad, who launched the event, said the project was an effort by the government to bring affordable and comfortable homes to the lower-income group.

“There is a misconception that the IDR has no place for the blue-collar workers, with a number of property giants already or gearing up to undertake high-end projects here,” he said.

Shafie Ali, 28, a telecommunications contractor born in Kampung Setanggi, was among those who had bought a unit at the launch.

He was happy that he could now provide a home for his family at his kampung through a loan package tailored to ease the burden of a low-medium income earner.