PUTRAJAYA: Koperasi Pembangunan Hartanah Putrajaya Bhd (KPHP) will develop 20,000 units of 1Malaysia affordable houses within four years.
Its Chairman Datuk Mohd Nazrul Arsad said the first phase, involving 20 projects to build 10,000 housing units, was scheduled for completion in two years while another 10,000 units would be built two years later.
"This represents the cooperative's initiative to provide affordable housing for the rakyat, and the development of the 20,000 housing units is part of the one million affordable homes promised by the government," he said.
He said this to reporters after the launch of 1Malaysia Affordable Housing by Deputy Finance Minister Datuk Ahmad Maslan here today.
"At present, we have started building in Pahang and Terengganu involving 3,000 houses in each state," Mohd Nazrul said.
He said the development projects would involved all states including areas in major towns as well as rural areas, and currently, some of the land approvals for the projects had been obtained while the rest were still in the process of getting approvals.
Mohd Nazrul said the development would comprise terraced houses and semi-detached houses, each measuring 1,000 sq ft and 850 sq ft and consisting of three bedrooms and two bathrooms.
"The houses are priced at about RM80,000 to RM150,000 and we feel that the pricing is suitable for the rakyat and the cooperative," he said.
He said currently only two banks -- Bank Simpanan Nasional and Bank Islam -- are cooperating with the cooperative and hoped other banks would come on board to collaborate in the project in the future.