Sultan Ibrahim (second from left) officiating Housing Projects Sustainable race Johor at Galleri @ City in Johor Bahru on March 22, 2017 witnessed by Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin (three of Kirn) President and Chief Executive of JCorp, Datuk Kamaruzzaman Abu Kassim (right).
JOHOR BARU: The Johor Dream House Project Foundation, Sultan Ibrahim, who is also the Sultan of Johor Sultan Ibrahim outburst late Sultan Iskandar will see the people of this country have the opportunity to own their own homes from as low as RM80,000.
President and Chief Executive of Johor Corporation (JCorp) Datuk Kamaruzzaman Abu Kassim said the initiative was not just a housing project alone, but it is a new innovation in the housing sector that can trigger changes in the sector.
"This is because, Johor Dream Home Nation not only sold at reasonable prices but much cheaper than the market price now.
"All this is the brainchild of His Royal Highness Tuanku itself but as a gift to all the people of Johor in conjunction with the official birthday of the king," he said at the soft launch of the initiative at the Galleria City on Wednesday.
Polluting dust also consented to the ceremony Johor Sultan Ibrahim and Raja Permaisuri Zarith Sofia Sultan Idris.
Johor Menteri Besar Datuk Seri Mohamed Khaled Nordin and state executive councilors were present.
Concerned that some people might Squeezed by financial constraints, Yayasan Sultan Ibrahim also worked with the Bank for financing to potential buyers.
"For this purpose, the Bank has agreed to allocate a fund of RM500 million to the financing facility houses priced from as low as RM80,000 per unit in the program.
"What's more, qualified buyers only need to pay a deposit as low as RM1 to offer loans at 100 percent," he said.
Kamaruzzaman said the project would be implemented by companies in its group, Johor Land Bhd, a joint venture with two other companies in the two regions, namely Bandar Dato 'Onn and Bandar Baru Majidee.
Bandar Dato 'Onn, the project will be categorized as a Dream House Sultan Ibrahim, will be built on an area of more than 520 hectares of 21:32 home unit.
House prices in the area consisting of terraced houses, semi-detached and detached houses starting from RM80,000 to RM100,000, is expected to start construction before the end of this year.
Meanwhile, a total of 320 residential units consisting of two residential blocks, each of which has 12 residential floors, will be built on a land area of 2.75 hectares in Bandar Baru Majidee.
With a price of less than RM150,000 per unit, the construction work is expected to begin this summer and be completed in late 2019.
In addition, Kamaruzzaman said a further project is being designed by S'City Mutiara Sdn Bhd on Malay reserve land in Bukit Saujana, covering an area of 3,055 hectares involving 1,000 housing units.
The selling price is expected from RM297,000 to RM420,000.
"Interestingly, all kinds of home with this affordable selling price will also include other amenities such as televisions, refrigerators, washing machines and cook top. It thus reflects the suitability of his title as Dream Home Nation Johor," he said.