Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Wednesday, February 15, 2012

DPMM to build houses again

MALAY Chamber of Commerce Malaysia (DPMM) will again embark on a role as property developer, offering medium- and low-cost terrace houses and apartments at cost price.

Its president Syed Ali Alattas said the properties will be priced less than RM200,000 a unit.

"We were involved as developer in 1975 when our subsidiary Syarikat (Perumahan) Sdn Bhd built 1,340 low medium cost houses in Johor Baru. We sold those houses at cost price, which was not more than RM34,000 a unit then," he told reporters at the DPMM headquarters, yesterday.

Syed Ali said that the chamber intends to collaborate with the various state governments for the housing projects and believes this time around it will also be able to sell the units at almost cost price.

"We will be writing letters to all the Mentris Besar soon to ask them to allocate us land for this purpose," he said.

He said the chamber plans to build 100,000 houses throughout Malaysia including Sabah and Sarawak of which 30 per cent can be acquired by non-Bumiputeras.

He said a website will soon be up, providing more information on the type of properties the chambers would be selling.

DPMM will build the properties under a new subsidiary called Dewan Syarikah Bhd and will start with a project in Johor.

"We are looking at building 220 apartment units in Bandar Uda Utama and believe we can complete the project within eight months," he said.

Syed Ali added that it will carry out a design contest for both the terrace houses and apartments which offers a cash prize of RM15,000 for the winner of the low cost apartment category and RM10,000 for the double-storey terrace house category.

He said the chamber will not be seeking the participation of non-members in the project as its members include 16,000 contractors, 2,000 engineers and 10,000 consultants.

"We've had enough of listening to grouses about sky rocketing house prices ... that is why we are embarking on this project," he added.

By Business Times

No comments: