RM17b sales likely by year end

SUBANG JAYA: The government is expected to generate about RM17 billion sales from the Home Ownership Campaign (HOC) 2019 by the year end, said Housing and Local Government Minister Zuraida Kamaruddin.

There would be 25,000 homes to be sold by the period, she said.

“As of yesterday, about 19,700 units were sold. The additional 5,300 units are expected to be sold by the year end,” she said at the documents handover ceremony between Perbadanan PR1MA Malaysia (PR1MA) and 17 developers, here, yesterday.

She said the projection could be achieved based on HOC 2019’s current sales announced by Real Estate And Housing Developers’ Association of Malaysia (Rehda) on Thursday.

Rehda said HOC 2019 had generated RM14.65 billion in sales from 19,784 units of properties sold as at Sept 13.

Meanwhile, Zuraida said the ministry would resolve issues involving more than 500 PR1MA house buyers, who had complained of not getting up to 30 per cent discount on purchases before HOC 2019.

Under HOC 2019, PR1MA had offered discounts of up to 30 per cent for more than 42,000 residential units from January to June this year.

“I will have a meeting with them (buyers) by second week of next month. Based on the rules of sales and purchase, they cannot get back the discounts. But we will engage with them. We want to know their expectations... to see how best we can solve their issues,” she added.

HOC 2019 was first initiated by the Finance Ministry as part of the government’s commitment to promoting home ownership under the National Housing Agenda.