Opportunity for young people to own affordable houses at Ideal Residency, Pulau Pinang –Minister Reezal Merican

Reezal Merican

BUKIT GELUGOR OCT.16: Minister of Housing and Local Government (KPKT), Datuk Seri Reezal Merican Naina Merican today handed over offer letters to 20 buyers of affordable houses at Ideal Residency here – a joint effort between the Federal Government, Ideal Capital Venture Sdn. Bhd.(ICVSB) and Pulau Pinang Government.

The Ministry in its statement said, the houses are strategically located to be resided and the correct choice to build 2,850 houses that could be the future assets especially for the young generation.

Reezal Merican said, this housing project has two building phases occupying 16.2 acres of land divided into two plots (Plot B and Plot C) located at Jalan Gambir. The Phase 1 project on Plot B has one block with 49 storey building consisting of 1,218 apartment units with the size 850 sq. ft that are currently on the ground works, piling, works under ground and building retention walls.

He added, the Phase 2 project on Plot C provides two blocks with 46 storey building consisting 1,632 apartment units with the size of 850 sq.ft.

“The development of the Phase 2 will only begin after the building works in Phase 1 is completed. The Gross Development Cost (GDC) for the whole project is estimated at RM818, 045, 440 while the Gross Development Value (GDV) is estimated at RM930, 832,000. The sale of a unit PR1MA-Ideal Residency, Bukit Gelugor is RM300, 000 fixed by the State Local Authority (PBN) following the Pulau Pinang Affordable Houses are monitored by State Authority.

“The building of PR1MA –Ideal Residency is complete with several facilities with condominium structure and is able to provide a conducive environment to the owners,” Reezal Merican said.

The statement added, Reezal Merican has mentioned that one of the aims of the Ministry is to give opportunities to the young people to own houses and this is in line with the agenda “Own at Young” that he has proposed.

“Building 500,000 units of affordable houses is the target under the 12th Malaysia Plan and this is a prove that the government is serious and concern to increase the opportunities especially to the B40 group and M40 to own houses.

“The Ministry will mobilise the efforts via KPKT Focused Agenda Framework that is “Liveable Malaysia,” the statement added.

The statement said that Reezal Merican was accompanied by the Pulau Pinang Chief Minister, Chow Kon Yeow to visit the site of the affordable houses that are comfortable for “Malaysian Family” here this morning. – Malaysia World News 

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