MARUDI: The Housing Ministry proposes to build 50,000 units of affordable apartments or houses during the 11th Malaysia Plan (11MP).
Its minister Datuk Amar Abang Johari Tun Abang Openg said the proposal, which would be submitted to the federal government next year for funds, was prompted by escalating demand for affordable housing against the backdrop of expensive land and greedy developers in urban and suburban centres across the state.
He added the government had to adopt a new strategy in the face of these challenges by building apartments that could be as high as 12 storeys.
“Where the cost of land is high, we go up, particularly in the state capital. It would be based on the Singapore model due to the scarcity of affordable land.
“We are targeting 50,000 units as we want to control house prices,” he said here yesterday when elaborating on his recent announcement that Daya Perumahan Sdn Bhd would flood the housing market to counter greedy housing developers who had caused house prices to go through the roof.
Recently, Abang Johari revealed that some developers had set their profit margin at between 80 and 100 per cent, and he described these figures as “senseless” and “unreasonable”.
He said the trend to build more apartments had started in the booming industrial town of Bintulu, where the Housing Development Commission (HDC) had already built five-storey apartments.
His ministry, he added, had already delivered 4,500 units and would add another 2,500 units by the end of the 10th Malaysia next year.
To enable more Sarawakians to own houses, he said his ministry had established Mutiara Mortgage and Credit Sdn Bhd to help those who are qualified to buy houses but could not get bank loans.