A NEW affordable housing project, Juru Hills (Rumah MutiaraKu), is set to take place on the mainland with the support from Bank Pembangunan Malaysia Berhad (BPMB) and Firma Atasan Sdn Bhd through an RM18.5 million Tawarrug Financing Facility agreement.
BPMB has partnered with Firma Atasan Sdn Bhd (Firma Atasan) to support the first phase of the Juru Hills affordable housing project.
State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu said that the Juru Hills project will be a pilot project, where banks will offer a 95% loan, with the remaining 5% borne by the developer as a loan for the down payment.
“Moving forward, what we want to work out is a mechanism where buyers of Rumah MutiaraKu will only need to pay RM10 as a downpayment, with the balance borne by the developers.
“This initiative is to make homeownership easier for those who deserve it. We are still in the process of exploring this,” Sundarajoo said during the Memorandum of Understanding (MoU) signing ceremony at Livingston Tower today.
Sundarajoo also said Juru Hills will also provide facilities such as swimming pool, gymnasium and others.
“We are not just talking about homes but lifestyles. Residents living in affordable housing schemes also deserve a decent living environment, and the developer has come forward to provide these,” he added.
Sundarajoo also shared that the state government has introduced a new policy for housing requiring affordable housing to meet Green Building Index (GBI) standards.
Firma Atasan executive director Chew Why Hoong highlighted the inclusion of important community facilities in the project, such as a Youth Learning Centre and a Nursing Home.
“We aim to set a new benchmark for affordable housing in Penang and beyond by prioritising the well-being of residents.
“The project also includes 11 shop offices and facilities to support community growth, including the Youth Learning Centre for technical training and a Nursing Home with capacity for 94 elderly residents,” Chew said.
According to Chew, the first phase focuses on Block A, delivering 618 affordable units, with the second phase adding another 618 units, bringing the total to 1,236 homes.
It is learned that the units are priced between RM248,000 and RM278,000. Each unit will provide at least two parking spaces, with some offering three.
The Juru Hills project will also incorporate GBI-compliant sustainability features, including a rainwater harvesting system, a solar energy solution, and a wastewater treatment facility.
BPMB Group chief executive officer Roni Abdulwahab said that the bank is committed to supporting socioeconomic projects and empowering local businesses.
“BPMB is focused on providing capital for national development, especially for underserved communities, while strengthening our clients’ capabilities.
“This partnership with Firma Atasan is a step towards making homeownership more accessible, while integrating sustainability into urban development,” he said.
The project is expected to create more than 460 jobs, further stimulating the local economy.
Story by Tanushalini Moroter
Pix by Darwina Mohd Daud