KUCHING: 1Malaysia People’s Housing Project (PR1MA) will launch a project in Semenggoh near here in August and another one in Sibu.
The upcoming housing project in Semenggoh offers 1,260 units with the piling process to start soon. The housing project in Sibu which offers 1,096 units is still waiting for approval from the local authority.
For two days (15-16 July from 9am to 5 pm) PR1MA is having its open day for interested house buyers to register at its sales office at Metrocity in Matang near here.
PR1MA will build more than 17,000 units of affordable homes in Sarawak, involving 15 projects, with an estimated gross development value (GDV) of more than RM5.5 billion.
Of the total, 1,581 units are up for sale and those interested to buy can visit the two-day PR1MA Open Day (POD).
The POD serves as a convenient one-stop-centre for potential buyers to gather all relevant information pertaining to PR1MA homes with the availability of PR1MA staff, representatives from financial institutions and relevant agencies to assist them with their queries.
With 8,475 homes completed, PR1MA now has show houses at 12 of its project sites, from Kuala Ketil and Sungai Petani 2 in Kedah, Bandar Meru Raya and Kampar in Perak and Matang in Sarawak.
More than 1.42 million Malaysians have registered with PR1MA, of which 68,000 are from Sarawak.
To date, 166,972 of these registrants nationwide have applied for PR1MA housing units.
PR1MA has to date approved the development of 267,902 units of homes nationwide, of which, 139,393 units are in various stages of construction.
A total of 9,791 units of PR1MA homes have been sold, to date, with an estimated sales value of RM2.36 billion.
Meanwhile, eligible home buyers should take advantage of PR1MA’s special end financing scheme, simply known as Skim Pembiayaan Fleksibel (SPEF), an attractive financing option to assist them in owning PR1MA homes.
Made available since February this year, this scheme provides PR1MA home buyers with better access to a higher loan amount with monthly home loan instalments at affordable levels.
With this scheme, home buyers would be able to enjoy monthly instalment for as low as RM800 per month or RM30 a day subject to terms and conditions and eligibility.
Those interested may apply for this scheme through PR1MA’s partner banks – Maybank, CIMB, RHB and AmBank. SPEF, designed exclusively for PR1MA homebuyers, is a joint effort of Bank Negara Malaysia, EPF and the partner financial institutions.
This scheme aims to increase homebuyers’ chances of getting a home loan especially for first-time homebuyers by providing access to a higher loan amount than they would otherwise be eligible for with conventional loans.
SPEF comes in two options – the step-up only or the step-up with EPF Account 2 withdrawal.
For both options, borrowers are only required to service the loan interest in instalments for the first five years and start paying the principal beginning from the sixth year.
If homebuyers would like to get a larger loan amount, they may choose the second option where EPF Account 2 is utilised.
The scheme is subject to terms and conditions and eligibility will depend on the borrower’s risk profile and credit assessment by the banks.
