1. Ministry of Housing and Local Government (KPKT) welcomes government suggestions through the announcement of the 2021 Budget to reintroduce the rent-to-own scheme (RTO) that was inspired by the KPKT since 2018 to help Malaysians with mid-income homes able to belong.
2. I believe that this scheme will be the catalyst in increasing home ownership among mid-income groups with an overall value of over RM1 billion dedicated to first home buyers of the Malaysian PR1MA Corporation residence units (PR1MA).
3. In fulfilling the KPKT mandate to provide affordable homes for mid-income Malaysians, PR1MA has gone through the transformation process to study and change its business model. This step is part of the PR1MA strategy to keep it driving the national housing agenda. This step has enable PR1MA to increase operational efficiency and financial management more effectively.
4. As of October 31, 2020 PR1MA projects include 52,763 units nationwide have been approved. Out of this total, 19,987 units have been completed, 25,356 units are under construction and 7,420 are under planning. Plus, over 26,000 units have been sold so far.
5. KPKT will announce more details about the RTO scheme after conducting a discussion with the relevant financial institutions.
YB Zuraida Kamaruddin
Minister of Housing and Local Government