Exco: Penang to build 110,000 affordable housing units by 2025
State executive councillor Jagdeep Singh Deo said a total of 30,000 units of affordable housing have been built since 2008. — Picture by Sayuti Zainudin
Jagdeep said there are still many in the low-income group who could not afford to purchase low-cost housing units or unable to get loan approvals. The 2,000 units, located on five districts in the state, were contributed to the state government by developers from the sale of affordable units that were sold to the open market.
“My condition to the developers in selling these units to the open market was to increase the sale prices by 10 per cent and this 10 per cent must be handed back to the state in kind, through units, instead of cash,” he said. On the number of overhang properties in Penang, Jagdeep said the state has been able to manage it quite well.
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