KUALA LUMPUR (June 14): PR1MA Corp Malaysia, which is an affordable housing agency under the Ministry of Housing and Local Government (KPKT), has commenced construction of its first township development in Teluk Intan, Perak, according to a press statement on Friday.

Spread across a 140-acre tract, Bandar PR1MA Teluk Intan will comprise 1,500 landed residential units, commercial lots, a central park and several amenities for the community including a multi-purpose hall, a mosque, a kindergarten and a daycare centre.

The groundbreaking ceremony was officiated by Housing and Local Government Minister Nga Kor Ming. In the statement, he said, “This [Bandar PR1MA Teluk Intan] project will become a landmark not only for the residents of Teluk Intan, but for the whole of Malaysia because it sets a new benchmark for the country’s housing landscape with the development of other Bandar PR1MA projects in the future.

“Following the groundbreaking ceremony of Bandar PR1MA Teluk Intan, we are witnessing the beginning of a new phase in the government's efforts to provide affordable housing that is modern, sustainable and located in a community that embodies the spirit of Malaysia Madani.”

Placing an emphasis on environment, social and governance (ESG) practices, the statement said Bandar PR1MA Teluk Intan has been designed with green in mind. The township will feature plenty of local plant species and green spaces to promote biodiversity, preserve local ecosystems and maintain the natural landscape of the area.

Representing PR1MA Corp Malaysia, its group chief executive officer Datuk Seri Mohd Nazri Md Shariff said, “The purpose of establishing PR1MA is not only to build affordable homes, but also to form a modern and inclusive community. This includes providing facilities that can build a comfortable and harmonious community atmosphere.

“The Madani concept is the main foundation in achieving PR1MA’s long-term goal to provide affordable housing for all Malaysians. Bandar PR1MA Teluk Intan is part of the national PR1MA programme to provide 37,526 new housing units by 2029 in support the national housing agenda.”

Meanwhile, at the ceremony on Friday, PR1MA Corp Malaysia also inked a memorandum of understanding (MOU) with Cagamas Bhd to provide home financing solutions, including green financing for all PR1MA homebuyers.

In addition to that, PR1MA Corp Malaysia also signed MOUs with several banks including Bank Muamalat Malaysia Bhd, MBSB Bank Bhd, Bank Simpanan Nasional, Koperasi Co-opbank Pertama Malaysia Bhd and Affin Islamic Bank Bhd to offer financial loans for PR1MA homebuyers and the development of any upcoming PR1MA projects.