Saturday, August 24

State govt steps in to offer financing for 161 PPR Samarahan II homeowners after they fail to get bank loans

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Dr Sim (front row, third right) and Bakrie (second right) with the new homeowners after the key presentation ceremony.

SAMARAHAN: The Sarawak government has decided to loan money to 161 successful applicants of the Programme Perumahan Rakyat (PPR) Samarahan II project after commercial banks declined to lend money to them.

Minister of Local Government and Housing Datuk Dr Sim Kui Hian revealed that there were 180 units at PPR Samarahan II, but only 19 managed to get a loan from commercial banks.

He said the other 161 applicants had also tried to borrow money from commercial banks to purchase the houses at this location, but were not able to get a loan.

“So the Sarawak government, through our own company called Mutiara Mortgage & Credit Sdn Bhd, will loan them the money so that they can own the houses.

“The total amount of loans approved for this project alone is about RM6.2 million,” he told reporters after presenting house keys to the 20 selected owners at the site, about 10km away from UiTM Sarawak Samarahan Campus.

Dr Sim said the Sarawak government had to do this, otherwise nobody is going to manage their long repayment, which will result in them not having a decent home.

The banks now, he said, had set a very high standard.

PPR Samarahan, which is located at Lot 2077, Block 2, Samarahan District, offers 180 units of single-storey terrace houses complete with occupation permit (OP) and infrastructure works and a built-up area of 710 square feet, three bedrooms, two bathrooms, a living room, kitchen, car porch and backyard.

PPR Samarahan II is funded by the federal government through the national Housing Department with a total cost of about RM34.8 million.

Construction works commenced on Oct 5, 2015 and was fully completed ahead of schedule on Feb 21, 2018.

The objective of PPR housing is to provide affordable homes, especially for the B40 group with a household income of not more than RM3,000.

The selling prices of the houses at PPR Samarahan II is RM50,400 per intermediate unit and RM59,220 per corner unit.

Ministry of Local Government and Housing permanent secretary Bakrie Zaini was also present.