OIB and Selangor Government Further Affordable Housing Efforts with Putra Idaman

Press Release: OIB and Selangor Government Further Affordable Housing Efforts with Putra Idaman

The Affordable Housing Project Supports Urban Growth in Putrajaya, Cyberjaya and Dengkil.

Cyberjaya, September 28 – Oriental Interest Berhad (OIB) Group, in collaboration with Permodalan Negeri Selangor Berhad (PNSB), through its subsidiary, PNSB Construction Sdn Bhd (PCSB) today unveiled Putra Idaman, a new affordable housing project that aims to support urban growth in Selangor.
The project under the Rumah Idaman programme, was officially launched by Selangor Chief Minister, YAB Dato’ Seri Amirudin Shari, in concurrence with a symbolic groundbreaking ceremony for Saujana Idaman, another Rumah Idaman project by OIB, which will be launched in the near future.

Rumah Idaman is a successful Selangor-government initiative to address the rising demand for quality, affordable homes in strategically located urban centers. The initiative offers units tailored for B40 and M40 Malaysians, particularly first-time homebuyers and small families seeking a foothold in the property market.

Located in Desa Pinggiran Putra, Putra Idaman spans 6.7 acres and has a gross development value (GDV) of RM125.5 million. Targeted for completion in 2028, Putra Idaman will feature two apartment blocks, offering a total of 502 semi-furnished units. Each unit is priced at RM250,000 and is designed specifically for low to middle-income families.

During the launch, Dato’ Seri Amirudin expressed his appreciation for OIB and PNSB’s dedication to delivering comfortable, quality homes with essential amenities, aimed at enhancing the well-being of Selangor’s residents.

He further remarked, “I am confident that the success of projects like Putra Idaman, Saujana Idaman, and other Rumah Idaman MBI developments, which offer affordable prices and location with good accessibilities, will greatly improve the quality of life for Selangor’s residents. These initiatives also present an appealing opportunity for our youth to become first-time homeowners.”

Executive Director and CEO of OIB, Low Kok Shen emphasised that the project is testament to OIB’s commitment to elevate homeownership opportunities for individuals and families from all walks of life.
“OIB currently has over RM1 billion of affordable housing properties in the pipeline under schemes such as Rumah Idaman and Rumah Selangorku with Putra Idaman being the first of many projects under the Rumah Idaman initiative.

“We believe affordable housing in Malaysia is not just an economic issue, it’s a societal imperative. Property developers have a vital role to play in shaping a future where homeownership is accessible to all.

Low added that affordable housing projects like Putra Idaman and Saujana Idaman are vital to support the inclusivity and sustainability in the growing townships of Putrajaya, Cyberjaya, and Dengkil, which have shown population growth rates almost three times the national average according to Malaysia’s 2020 population census.

Designed to meet the needs of modern lifestyles, each 1,002 sq. ft. unit features three bedrooms and two bathrooms; furnished with wardrobes, air-conditioners, water heaters, television with cabinet, kitchen cabinets, and a refrigerator. Each unit also comes with two parking spaces, adding another layer of convenience for homeowners.

Putra Idaman is set in a gated and guarded community, making it an attractive choice for those seeking a safe and well-planned living environment within a rapidly growing neighbourhood. Putra Idaman is easily accessible via a network of highways such as the MEX Highway, ELITE Highway and the South Klang Valley Expressway (SKVE), and the MRT Putrajaya line.

Low added: “Affordable housing is fundamental to building a thriving and equitable society. It offers individuals, families, and first-time homebuyers the stability and security needed to create a better future. We believe that Putra Idaman will provide more than just shelter – it will contribute to social advancement and strengthen the nation’s economic resilience.”

Chief Executive Officer of PNSB, YM Raja Ahmad Shahrir Iskandar bin Raja Salim remarked, “The launch of Rumah Idaman Putra Idaman is the second project launch for 2024 as scheduled by PNSB. The Rumah Idaman Putra Idaman and Saujana Idaman projects are two joint venture projects with OIB, with an estimated total of 1,360 units out of the 5,783 units planned for the Rumah Idaman development in the Sepang district. This development will undoubtedly add value to Mukim Dengkil.”

“We are very honoured to collaborate with OIB on this affordable housing project. This partnership not only aligns with PNSB’s commitment to in increasing public housing access but also demonstrates our dedication to deliver quality housing and value to the community.

Through this collaboration, it has made a significant impact in providing affordable and high-quality homes for everyone.”

— end of press release —

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