PNB launches maiden affordable housing project

PORT DICKSON: The country’s largest fund management firm, Permodalan Nasional Bhd (PNB), launched its maiden affordable housing project in Port Dickson as part of its commitment to build 5,000 such dwellings by 2022.

The first project at Bagan Pinang near here will involve the construction of 140 single-storey houses. The 20ft by 70ft houses, to cost between RM180,000 and RM200,000, will have three rooms and two bathrooms.

PNB group chairman Tan Sri Abdul Wahid Omar said a similar project would be built in Pedas as well as in Banting, Selangor.

“These projects show commitment to support the government’s initiative to build more affordable houses for the people.

“This also shows that we are not only an investment institution, but one that is also a responsible corporate citizen,” he said at the launch of the maiden project by Negri Sembilan Mentri Besar Datuk Seri Mohamad Hasan.

Abdul Wahid said PNB, through its subsidiary PNB Value Homes Sdn Bhd, will build 1,500 affordable houses in Banting and another 300 in Pedas.

“We hope to work with state governments and see if they can provide us land for such projects.“We will also look at acquiring land if the price is reasonable,” he said, adding that the construction of the houses would be completed faster under the industrialised building system.

Abdul Wahid said households earning less than RM5,000 a month would be eligible to buy these homes. They should also be above 21, married or single parents.

The property should also be their first and they would not be allowed to sell it for five years.

Abdul Wahid said building affordable homes was one of three tasks given to him by Prime Minister Datuk Seri Najib Razak when he was appointed chairman in Aug 2016.

“Apart from transforming PNB to ensure it does even better in getting more bumiputras involved in business, the PM also asked PNB to build such homes.

“I am happy to note that our net profit increased by 16.8% to RM17.7bil last year and we are now embarking on this project,” he said.

Good project: (seated from left) State Tourism committee chairman Datuk Tun Hairudin Abu Bakar, PNB president and group CEO Datuk Abdul Rahman Ahmad, Abdul Wahid and Mohamad at the launch of the maiden project.