GEORGE TOWN: There are more applicants for affordable housing units on the island than on the mainland (Seberang Prai) in Penang, according to Chief Minister Chow Kon Yeow (pix).
Therefore, it is imperative for developers to try to fulfill the demand on the island first, said Chow.
As of October, there were 43,052 applicants on the waiting list for various types of affordable housing units in Penang, with the majority on the island.
Chow said that the state plans to offer flexible terms and conditions to developers where those who choose not to build the affordable units can instead contribute RM120,000 for each unit which goes unbuilt to the state housing (revolving) fund.
The fund was established to help the state underwrite some affordable housing schemes which private developers cannot fulfill.
An example of the project undertaken by the fund is the affordable housing project in Jalan S.P. Chelliah.
Chow was speaking after launching the balloting process for 200 low cost units built by the Sunway Property division under the Sunway conglomerate at Desa Kayu Manis in Batu Maung and the Harmoni Flats in Bukit Mertajam, respectively.
Both projects are located adjacent to the group’s property projects in Sunway Cassia at Batu Maung and Sunway Wellesley in Bukit Mertajam.
Among those present were Sunway Penang Property Development Division senior executive director Daniel Lim Hin Soon, its state property division general manager Ahila Ganesan and state exco member Datuk Abdul Halim Hussein.
Chow said that the state plans to reduce the backlog of applicants for affordable housing.
“It can be done with the cooperation of the private sector, especially the developers.”