PR1MA – Malaysia's top housing developer
Published on: Monday, November 30, 2015
Kuala Lumpur: Within a span of less than three years, Perbadanan PR1MA Malaysia (PR1MA) since its establishment in 2012 and actualised on Jan 1, 2013, by the PR1MA Act, 2012 passed in Parliament coming into force, has become the country's largest affordable housing developer with homes to be sold at an average of 20 per cent below market prices.PR1MA is mandated with the sole government authority to plan, develop, construct and maintain affordable quality housing and integrated communities for the middle-income group, whether single or married, defined as households with monthly income of between 2,500 and RM10,000.Under the National Housing Agenda, PR1MA has been tasked with building 500,000 units of quality affordable homes nationwide. To date, PR1MA's board or Members of Corporation (MOC) have approved a total of 190 projects nationwide, comprising 227,776 homes."Looking at the numbers alone, PR1MA is by far the largest property developer in the country. We are very much aware of the challenges ahead of us and we are taking all these in stride," said PR1MA Chief Executive Officer Datuk Abdul Mutalib Alias.
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There are now 65,000 PR1MA homes under construction with 10,000 due for completion in 2016. Going forward, PR1MA is confident of being able to speed up and improve development and construction processes of future projects upon employing high technology methods such as the Industrialised Building System (IBS)."We are currently talking to several potential partners to assist us in this. Hopefully we can wrap this up soon," said CEO Mutalib, adding that, "PR1MA was established for the good of the rakyat. Hopefully we will succeed not only in providing homes for the people but also, by the sheer magnitude of our project, play a significant part in making the paradigm shift in the country's property sector.""Our main challenge is sourcing for suitable land. PR1MA's primary source is Federal land, with State land and private developers' land. To build 500,000 units of PR1MA homes, it has been estimated that a total of 12,500 acres are required.""PR1MA's operations are non-profit in nature, therefore, innovative cost-reduction practices and diligent financial management are vital to PR1MA's long-term financial sustainability."
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"In this regard, PR1MA will be taking a holistic approach to reduce costs along the entire chain of development, such as sourcing of land and materials, standardisation of design, planning and building, innovative and efficient methods of construction, as well as funding activities.""PR1MA continues to seek suitable land in strategic locations throughout the country by working with the Federal and State governments. We remain open to working with private sector developers. We are looking at acquisition of suitable sites to build up our land bank."
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"For PR1MA township projects, a land size of between 50 and 1,000 acres near urban areas would be required," CEO Mutalib said.The Ekspo Rumah PR1MA 2015 which was successfully held in Kedah, Melaka and last weekend in Kuala Lumpur which was officiated by the Prima Minister Datuk Seri Mohd Najib Tun Abdul Razak showcasing 98 PR1MA projects by 84 developers at the Putra World Trade Centre, will be staged next year in Sabah and Sarawak on a smaller scale.In Sabah, some 29,542 PR1MA homes are being planned to be built. Sabah is second highest state in Malaysia with the most number of PR1MA homes planned after Selangor (34,567).Homes developed by Perbadanan PR1MA Malaysia are affordably priced and are on average 20 per cent lower than the average market price for similar units in surrounding developments.Therefore, there's a wealth creation element as homeowners can sell their high-quality unit after a 10-year moratorium at market price if they chose to, according to the Prime Minister.PR1MA designs and builds homes that serve the needs of the individuals at various stages of their lives, besides ensuring that the quality homes are affordably priced.An integral part of the PR1MA programme is to encourage youths just starting out in their careers and young families to begin their journey early towards owning their own homes.PR1MA enables this by developing affordable first houses with opportunities to migrate to bigger homes later.Owning a home is the aspiration for many Malaysians. A home is more than just a roof over our heads.It is not only a place of comfort and protection, but also a source of identity for its residents.As such, PR1MA aims to build homes that are a source of pride to its owners and which will be a joy to live in.Many factors make up a home. Apart from its physical structure, the community and environment play important roles in making a place a home.PR1MA homes development goes beyond brinks and mortar. PR1MA aims to develop integrated, vibrant and active communities that provide wealth creation and socio-economic development opportunities.PR1MA will create attractive places where people want to live, work and play, besides shaping thriving and safe communities where people are actively engaged rather than passively present and where there are shared values and understanding between people.Embedded in these communities would be social structures to enforce guidelines and rules to ensure the living environment is conducive for comfort and security.Middle-income households make up almost 50 per cent of households in Malaysia. With PR1MA's housing programme targeted at addressing the housing needs of the middle-income group, the government is now effectively helping to address the housing needs of almost 90 per cent of Malaysian households.This is in line with long-term vision to promote greater home-ownership among Malaysians.Another major challenge for PR1MA is sustainability, says CEO Mutalib. Can PR1MA build and offer its homes to the middle-income group at affordable prices on a sustainable basis?Stay up-to-date by following Daily Express’s Telegram channel.
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