Firm to revive 70 housing projects
NST 07/11/2001 By Fazlie Braham
WED: SYARIKAT Perumahan Negara Berhad chairman Datuk Ahmad Zahid Hamidi told
the Press in Kuala Lumpur yesterday that the Ministry of Housing and Local
Government had entrusted the company with the task of reviving 70 ailing
housing development projects all over the country.
"So far we have completed 20 housing schemes, so the other 50 are on the way
to being revived. I think by 2004, all 50 are to be completed," he said.
SPNB is currently developing 21,000 housing units in five States, targeted
at small and medium-income groups.
The units are priced between RM35,000 and RM42,000, according to the
recommendations of Majlis Tindakan Ekonomi Negara. Ahmad Zahid said that
SPNB will receive part of the money set aside for the development of new low
cost housing under Budget 2002.
"We have our own funds, the Government has identified a few areas and a few
target markets for us to develop. We have identified the areas and we will
announce our schemes," he said.
SPNB signed a memorandum of understanding with Bank Simpanan Nasional,
enabling the bank to provide it with end-stage financing under the Girohome
and AlBithaman Ajil principle packages.
Under the agreement, BSN will provide a financial facility worth RM100
million for low, medium, high-end and commercial units in SPNB's projects.
BSN chairman Datuk Abdul Azim Mohd Zabidi said besides the Girohome and Al-Bai
Bitahaman Ajil schemes, the bank is also offering house buyers a new
two-generation repayment scheme.
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