4,000 PR1MA homes planned near LRT stops

Some 4,000 units of affordable homes will be built at
several light rail transit (LRT) locations in the Klang Valley by
Perumahan Rakyat 1Malaysia Bhd (PR1MA) and Syarikat Prasarana
Negara Bhd (Prasarana).



The houses will be 20 per cent cheaper than the prevailing market prices
for similar units in the respective areas, which range from RM100,000
to RM400,000.

The first phase will kick off by year-end
comprising 2,000 units of apartments to be built in Pandan Jaya, Pandan
Indah and Taman Cempaka.

It is expected to be completed within
three years, PR1MA chief executive officer Datuk Abdul Mutalib Alias
said at a press conference here yesterday.

He said the apartment
units, which measure between 750 sq ft and 1,200 sq ft, will be
available in 1+1 bedroom studio-plus and 3+1
bedroom versions.

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Abdul Mutalib, however, declined to disclose the total gross development value of the project.

He said PR1MA and Prasarana will build apartments atop and next to the LRT stations, giving residents the convenience of having
direct access to the stations.

“We
realise that high prices of homes, cars and fuel are the major
financial burden faced by middle-income earners living in urban areas,
hence, this project was introduced to address
this situation.

“This
concept may be new in Malaysia, but not in other countries. In Hong
Kong, for instance, development of apartments linked to LRT and MRT
(mass transit railway) stations is very common,” he said.

Abdul Mutalib said PR1MA has received overwhelming response from the public for PR1MA homes, with more than 210,000 people
having registered as at end-2012.

“People
in the Klang Valley topped the list of registered applicants, followed
by Penang. We will continue our campaign to encourage more
registration,” he said.

Prasarana group managing director Datuk
Shahril Mokhtar said the stake held by PR1MA and Prasarana will differ
in each project, but assured that the partnership will benefit both
parties equally.

"We are still fine-tuning the joint-venture
agreement. The share percentage will depend on each project. All I can
say is that it will benefit both parties equally," Shahril said.

PR1MA is a government initiative to promote greater home ownership,
especially among middle income earners, by providing more affordable
homes in major cities.

Application for PR1MA homes is open to
Malaysian citizens aged 21 years and above, who have individual or
combined gross household income of between RM2,500 and RM7,500 a month.

Preference would be given to those living or working in surrounding areas of the projects.

Interested buyers can register at [You must be registered and logged in to see this link.]