BALIK PULAU: Property firm JKP Sdn Bhd (JKPSB) will launch four new developments in Penang this year to meet the growing demand for affordable housing and bolster the local economy.
JKPSB chairman Tan Sri Khalid Ramli said three projects comprising residential and commercial buildings would be initiated in Nibong Tebal as part of efforts to revitalise the area.
"JKPSB hopes these projects will spur economic growth and improve the community's livelihoods. In total, JKPSB will launch more than 1,000 housing units across these projects in 2025, contributing to Penang's urban landscape," he said.
JKPSB is a government-linked company in Malaysia that develops residential and commercial properties to enhance Bumiputera participation in business and property ownership in Penang.
Another key development area will be in Permatang Pauh, with the project launching in July.
Permatang Pauh is close to Cherok Tok Kun, the birthplace of Prime Minister Datuk Seri Anwar Ibrahim.
The mixed development project, including houses and commercial buildings, will be priced between RM300,000 and RM700,000.
Khalid said that the projects in Nibong Tebal and Permatang Pauh would cater to a range of housing needs and offer commercial opportunities for Bumiputera entrepreneurs.
"By focusing on affordable housing, mixed-use developments, and support for Bumiputera entrepreneurs, JKPSB is contributing to the state's growth and improving the quality of life for its residents," he said at the key handover ceremony for JKPSB's Elvina project.
The Elvina project, located on 1.9 acres along Jalan Sungai Nipah 2, adjacent to the Balik Pulau Vocational College, features 24 units of two-storey terrace houses and two units of two-storey semi-detached houses.
Khalid said that they would control house prices to ensure they remain affordable for consumers.
JKPSB's projects are designed to harmonise with the environment. In addition to high-quality construction, JKPSB projects are reasonably priced and affordable for Bumiputera buyers.
Furthermore, these projects create a new lifestyle in a peaceful setting, revitalising nature with modern and sustainable housing designs.
Khalid said these projects would drive the development of surrounding areas and serve as a model for thriving communities ideal for living, working, and studying.