KUALA LUMPUR: The Bukit Jalil 1Malaysia Public Housing Project (PPA1M), which was completed 17 months earlier than scheduled, was the first such project built without using government funds as a result of the implementation of the ‘cross subsidy method’, said Datuk Seri Najib Tun Razak.
The Prime Minister said that through the concept, developers had constructed the project for the government and were allowed to develop the housing project on the adjacent land which would be sold to the public at the market price.
“The ‘cross subsidy’ method was implemented on a 60:40 basis, that is, 60 per cent with a total area of 7.67 acres (3.068 hectares) to be built for the PPA1M which is controlled by the government in terms of price, size and quality.
“While the other 40 per cent with a total area of 5.11 acres (2,044 hectares) were allowed to the developers for the construction of houses at the current market price,” he said.
The Prime Minister said this at the handing over of 1,536 house keys to civil servants for the Bukit Jalil PPA1M project yesterday.
Najib pointed out that the success in completing the Bukit Jalil PPA1M project, the highest PPA1M project in Malaysia with two blocks of 41-storey buildings, fulfilled the government policy and agenda for the comfort of the people and national development.
“Alhamdulillah, through this concept too, it saved government funds. Hopefully, a similar initiative would be continued by the government in future,” he said.
He added that to date, a total of 135,456 units (433 projects) of PPA1M out of the 200,000 units targeted had been approved by the government for the benefit of eligible civil servants.
“I understand that 43,993 units of PPA1M (nationwide) had been offered to the civil servants,” said Najib, who believed and was confident that the balance of the uncompleted PPA1M units would be implemented by the government in stages. — Bernama