Home Latest [email protected] Udang: First Housing To Implement Saving Concept

[email protected] Udang: First Housing To Implement Saving Concept

KUALA LUMPUR – Prime Minister Datuk Seri Najib Tun Razak yesterday attended the ground breaking ceremony for the construction of an apartment at Sungai Udang, Segambut here, for the benefit of the low and medium income earners in the federal capital.

He said it is the first housing project to introduce the rent and save concept to help the low and medium income earners, especially those working in the city.

“Under this unique concept, which is introduced by the Kuala Lumpur City Hall, the housing unit will be rented out for RM800 a month to those eligible, where RM300 from the amount will be for saving and wikll be returned to the tenants after five years.

“The actual rental per unit is only RM500 per month. Based on market price, where can you get a house in the city centre for a monthly rental of RM500.

“And with the force saving, whereby, after five years, the tenants will get back the money of about RM18,000, which can be used to pay deposit for a house,” he said in his speech.

Najib said those eligible would be allowed to rent the house for five years to allow others to also enjoy the benefit.

“This concept has never been implemented in Malaysia and this is what makes the Barisan Nasional government special, for always thinking of what is good for the people,” he added.

Also present were Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor and Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar.

At the event, Najib also visited a model unit of the apartment. The [email protected] Udang project is scheduled for completion in December 2019.

It involves the construction of 1,251 units, comprising two 32-storey block and one 34-storey building in an area covering 2.2 hectares.

The housing units would be offered to those working in Kuala Lumpur and with household income of below RM10,000.

Each unit, with a floor area of 807 sq ft, will have three bedrooms and two bathrooms. The apartment will also be equipped with facilities like a surau, swimming pool and a community hall.

— BERNAMA