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PR1MA: 10,000 units to be delivered in 2016?

These days, one of my personal wish is for more people to be able to afford a roof over their heads. One company that is receiving lots of attention for affordable homes would be PR1MA. I think I should highlight what PR1MA said to NST recently in an interview. We can revisit the things that as said at the beginning of next year and see how many of what was said came true. I also wish that 10,000 units to be completed within 2016 comes true.
Its chief executive officer (CEO) Datuk Abdul Mutalib Alias said that 883 units have been delivered over the past two years, and for 2016, the target is 10,000 units. There are 74,399 units under construction. 1.22 million potential buyers have registered. He also said that PR1MA would focus on industrialised building system (IBS), especially for landed property projects as it can deliver faster in between 12 to 14 months. The pace of delivery beginning 2017 will increase a lot; between 20,000 and 40,000 units per year.  He specifically said, “In our five-year plan of the 500,000 units (2020 target), we target to deliver 210,000 units by 2018. About 160,000 to 180,000 units will then be under construction, which means that we can start selling, while the balance of about 130,000 units will be under planning.”
It was also recently announced that PR1MA corp has been awarded eight prime locations along the light rail transits (LRT) lines in the Klang Valley for future projects. In essence, these would be transit-oriented developments (TOD) projects. Briefly, The Ampang, Kelana Jaya and Sri Petaling LRT lines have a total of 72 stations, of which 20 will be TOD projects. PR1MA’s sites are Pandan Indah, Pandan Jaya, Cempaka, Jelatek, Titiwangsa, Sentul, Bandar Puteri and Kinrara. The total land size for these areas are estimated at 12.9 ha and is sufficient for up to 2,500 units of affordable homes.
Let’s revisit that 10,000 units targeted by the beginning of 2017 yeah. For the sake of the potential 10,000 home owners and up to 40,000 residents, I wish PR1MA’s CEO all the best. Of course, this would also help tremendously in the GDP too through multiplier effects. New homes means new electrical equipments, new furnitures, renovation works and even house warming parties! For those who qualify, do register soonest for these units even if total registrations are still way above the estimated units to be built currently. Happy owning.
written on 6 Feb 2016
Next suggested article: Need a place to stay in KL? Affordable ones won’t kill you.

Property Investment always start with knowledge. Equip ourselves with more here.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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