KUCHING: The Rent-to-Own (RTO) scheme introduced by Perbadanan PR1MA Malaysia (1Malaysia People’s Housing Programme Corporation) will be available for all PR1MA projects in Sarawak.
The scheme is for successful balloted applicants who cannot secure bank loans.
PR1MA chief executive officer Datuk Abdul Mutalib Alias said the scheme will be available for the eight PR1MA projects in Sarawak consisting 9,195 units, which are expected to be completed by 2019.
This was among the initiatives introduced by PR1MA to assist middle-income earners wishing to own houses but faced issues with loans.
“Those whose loan applications were rejected by the bank, their names will then be listed under the scheme.
“The scheme has been introduced, however it is yet to be implemented, whereas, the scheme will only take effect once the projects are completed,” he told a press conference on Thursday.
He added that PR1MA had also appointed a number of panel banks to provide financing of up to 110 per cent for eligible applicants.
PR1MA will also continue to work closely with the Ministry of Housing and Housing Development Corporation (HDC) Sarawak to develop more PR1MA projects throughout the state.
Abdul Mutalib urged middle-income Sarawakians to register at www.pr1ma.my.