This article first appeared in The Edge Financial Daily on February 7, 2018 - February 13, 2018

KUALA LUMPUR: Property developer Aset Kayamas Sdn Bhd has completed its 1Malaysia Civil Servants Housing (PPA1M) project in Bukit Jalil 17 months ahead of the scheduled completion date of May 2019.

PPA1M Bukit Jalil, which has a gross development value RM356 million, comprises 1,536 condominium units.

Speaking at the key handover ceremony yesterday, Aset Kayamas founder and chairman Tan Sri Chai Kin Kong said the group was pleased with the support from many parties including Malaysia Building Society Bhd (MBSB), which financed the project.

“MBSB is the main financier for most of the PPA1M projects and we always need their financial support to realise the government’s desire to provide affordable homes for the people,” said Chai.

To date, Chai said MBSB has funded nine projects in other states such as Melaka, Selangor and Pahang. 

Prime Minister Datuk Seri Najib Razak, who officiated at the event, said the government has decided to build about 200,000  houses under PPA1M.

These houses, he said, are priced below the market price of between RM150,000 and RM300,000, depending on the size which ranges from 1,000 sq ft to 1,434 sq ft

As of now, Najib said about 43,993 PPA1M units had been completed and occupied by civil servants.

At PPA1M Bukit Jalil, the facilities include clinics, kindergartens, children’s playgrounds, multipurpose halls and other public amenities.

Additionally, Aset Kayamas is providing about RM80,000 in home renovation packages to 10 lucky owners of PPA1M homes.

“All buyers are also entitled for [an] RM100 rebate and [an] exemption of one month maintenance fee,” Chai added.