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
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