Sunday, February 25

Penang extends Home Ownership Campaign until December 2024

The Penang government has extended the Home Ownership Campaign (HOC) 3.0 to Dec 31 next year, as part of efforts to promote the ownership of affordable homes (RMM) to the people.

Chief Minister Chow Kon Yeow said the extension also seeks to meet the state government’s target of providing 220,000 units of RMM to Penangites by 2030.

“The HOC was implemented two years ago and received a good response. The state government is committed to supporting the Penang 2030 Vision to supply 220,000 RMM units.

“Through the campaign, the state government is offering a 10% discount for RMM units priced at RM300,000 [each] on the island, reducing it to RM270,000. In Seberang Perai, RMM units priced at RM250,000 will be discounted to RM225,000 with a minimum area of 850 sq ft,” he told newsmen after launching the 2023 Penang Affordable Homes Expo and Property on Saturday, which was also attended by state Housing and Environment Committee chairman Datuk Seri S Sundarajoo.

Chow said the HOC, introduced to boost the real estate industry in Penang, had proven successful because the people managed to own a home.

He said the Penang government is committed to ensuring relevant parties, including the private sector, provide adequate, quality, and affordable housing in the state.

“Another achievement of the state government through the Penang Housing Board is the approval of the RMM guidelines outlining policies and standards in the construction of RMM units, making them more liveable and harmonious,” he added.

He called on government agencies and private entities to consider the guidelines as a reference to help them tackle issues and challenges in the Penang housing industry. – Bernama

Leave a Reply

Your email address will not be published. Required fields are marked *