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More Affordable Housing Schemes To Be Launched In Johor - MB

Last update: 13/09/2016

JOHOR BAHRU, Sept 13 (Bernama) -- The Johor government will meet its target of providing at least 60,000 units of affordable houses to people in the state by 2020, said Menteri Besar Datuk Seri Mohamed Khaled Nordin.



The latest effort is the Johor Affordable Housing Scheme (RMMJ) carried out with AmBank Islamic Berhad.



A similar exercise was carried out in March this year, through a joint-venture by the Sultan Ibrahim Foundation with Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) to provide full financing facilities totaling RM500 million to buyers of low-cost and affordable homes.



Khaled said the latest RMMJ scheme with a RM300-million fund was expected to provide financing for about 4,000 applicants.



"Basically, it is a housing financing scheme with unique features. For instance, it is an Islamic scheme which will be a major consideration for the buyers. Secondly it gives Johoreans earning less than RM5,000 a chance," he said at the signing of a memorandum of understanding for the scheme here today.



Khaled added that funds for the scheme were from the state government but would be managed by AmBank.



He said although the scheme was not big, it would at least help resolve some of the financing problems faced by house-buyers because as of July, about 9,000 of the 24,000 recipients of affordable homes failed to secure loans.



"We will definitely not stop here but try to find a way and invite more parties to join AmBank's efforts. We will also try to find more innovative ways for financing, but we will not allow developers to give out loans," he said.



He added through the collaboration between the state government and organisations like Johor Corporation, Johor Land Berhad and the Johor Islamic Corporation, affordable homes in the state are being offered at reasonable prices of between RM42,000 to RM150,000.



To date, he said, plans to build at least 60,000 affordable houses were proceeding well, with 6,430 units to be completed this year, bringing the total number completed since 2014 to 10,061 units.



-- BERNAMA