KUALA LUMPUR: A China-based construction giant has teamed up with a Malaysian company and a co-operative to build one million affordable homes for Malaysians at prices ranging from RM40,000 to RM300,000.
Jiangsu Provincial Construction Group Co Ltd chairman Chen Zhenhua said they could deliver the one million units faster than the stipulated 10-year timeframe if the land banks were available.
He said this after the launching of the first batch of 100,000 affordable units to be built by JPC in collaboration with Koperasi Alumni MKM Kuala Lumpur Bhd and Kava Resources Sdn Bhd at a hotel here on Saturday . Jiangsu province vice governor Fei Gaoyun said Melaka had long historical ties with China and would be the first venue for the affordable home scheme under the"tripartite" smart partnership agreement.
"We will only offer the financing scheme to members. We hope to increase our membership from the current 4,000 to one million, and it is worth becoming a member, because we do not charge compounded interest on loans," he said.
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