Lagenda Properties Berhad is going above and beyond to address the issues of affordable housing and financial hardships faced by Malaysian Armed Forces (MAF) personnel and staff.
The developer of affordable townships has signed a collaboration agreement with Koperasi Veteran Daulat Kedah (KVDK) Bhd. It will provide tailored financial plans to army personnel in need, assisting them in restructuring their finances to qualify for a larger loan.
Datuk Jimmy Doh, managing director of Lagenda Properties, said the government's efforts under Budget 2022 and the 12th Malaysia Plan (12MP) are to be applauded because the focus on the welfare and housing of army personnel is a critical national agenda.
Senior Defence Minister Datuk Seri Hishammuddin Hussein had said that the agendas of Budget 2022 and the 12MP would include increased efforts to improve the welfare of military personnel and veterans.
According to Doh, many military personnel face housing difficulties, particularly outside the Klang Valley.
"The housing crisis is a very real issue for military personnel, with many priced out of the market. So many people cannot own their own homes even in their golden years, which is extremely disheartening.
"This is where we feel compelled as a group to go above and beyond the norm to address this specific segment in order to ensure that everyone can afford a home," he said.
Prime Minister Ismail Sabri Yaakob said that building army housing throughout Malaysia is necessary for MAF personnel.
The Ministry of Federal Territories announced that more than 20,000 of the 40,000 houses under the "Residensi Prihatin" scheme had been set aside to assist MAF officers and personnel in obtaining their own homes and improving their standard of living.
According to Asomuddin Ahmad, the chairman of KVDK, many of its members are either serving army veterans or retirees who have yet to own a home due to affordability issues.
"With B40 salaries averaging RM2,000 per month, they simply cannot afford housing priced above RM200,000. Furthermore, they frequently live in cramped quarters, with five to seven family members from multiple generations living under one roof," he said.
According to him, army personnel also have multiple loans, which impedes their chances of becoming homeowners.
He hoped that by partnering with Lagenda Properties, army personnel would receive advice on debt restructuring and management.
This service, which determines the homeowner's success in purchasing the property, is provided at no cost by Lagenda Properties' experienced advisors.
To assist the community, Lagenda Properties will provide an RM1,000 discount for each house purchased by KVDK members, in addition to the standard sales package, which includes free legal fees, free stamp duty for the memorandum of transfer, and cash rebates (applicable only to public servants).
According to Doh, Lagenda Properties is also extending savings and finalising details with other cooperative organisations throughout the country to accelerate the homeownership agenda.
"We believe that every Malaysian deserves a home, and that those who serve our country deserve to have their basic needs met," he said.