KUALA LUMPUR: The government will ensure a strong framework is in place to address rising house prices.
Prime Minister Datuk Seri Ismail Sabri Yaakob said this follows the surge in construction costs due to the Russian-Ukrainian conflict that will affect house prices.
"The National Affordable Housing Council (MPMMN) will find solutions to problems that arise as well as facilitate the purchase and ownership of homes in future.
"The government acknowledges that housing is an urgent need for Keluarga Malaysia. Under the 12th Malaysia Plan (12MP) and MPMMN, thus, immediate and long-term measures have been outlined to resolve the matter.
"This is in line with efforts to strengthen affordable home ownership for the B40 and M40 groups to prevent them from facing heavy financial burdens," he said when launching the Residensi PR1MA groundbreaking ceremony at Astrum Ampang here, today
Ismail Sabri said the government's aspiration is to build 500,000 affordable homes for Malaysians under the 12MP, to realise the 'One Family One Home' vision.
"This aspiration is close to my heart and the government understands the worries faced by youth in having a home especially after they retire.
"We know the younger generation are just starting their careers in the city and have been facing housing issues, especially having a place that is accessible to public transportation and facilities.
Ismail Sabri said the government has always been taking notes on housing issues faced by the people.
"Hence, the Housing and Local Government Ministry has come up with a new housing transit concept or 'Transit Oriented Development' (TOD).
"TOD not only allows the younger generation to travel to work easily but also to achieve a lesser carbon footprint following the Sustainable Development Goals (SDG) by 2030.
Ismail Sabri said mixed development project, Astrum Ampang, expected to complete in the first quarter of 2026, is an example of affordable housing that has access to the light rail transit (LRT) lines such as Kelana Jaya Line rail and the Ampang-Sri Petaling Line LRT.
The development is also connected to Sungai Buluh Kajang mass rapid transit (MRT) and Sungai Buloh-Putrajaya MRT and LRT 3.
"Of the entire project, one of the four phases of development is dedicated to PR1MA residences with a Gross Development Value (GDV) of RM180.80 million.
"For this project, a total 712 affordable homes with the concept of Small Office Home Office (or SOHO) and service apartments under PR1MA will be offered at a price of RM250,000 and RM270,000 with an area of 450 and 550 square feet, he said.
The mixed development project, Astrum Ampang will be developed by Astrum Ampang Sdn Bhd while PR1MA acts as an investor and joint venture partner.
Also present at the event was Housing and Local Government Minister Datuk Seri Reezal Merican Naina Merican and Perbadanan PR1MA Malaysia (PR1MA) chairman Datuk Dr Fathul Bari Mat Jahya.